BISMARCK, ND (KFGO) – The state-owned Bank of North Dakota will offer loan programs for both small and large businesses, beginning next Wednesday. The industrial commission has authorized the programs.
The “SELF” or small employer loan fund will provide loans of up to $50,000 for businesses with 10 or fewer employees.
Another loan program is designed for larger businesses. It provides up to $5-million with a maximum term of 10 years. Payments would be deferred for six months. It is for companies with less than 500 employees.
Companies with more than 500 workers may qualify for a loan of as much as $10-million. Businesses interested in either program will be directed to work through their local banks.
