All information is based on our current understanding as of the date that it is posted. Please keep in mind this information is changing rapidly – it can and likely will change. Some information becomes outdated the same date it posted. Although we will monitor and update this page as new information becomes available, please do not rely solely on this page. We encourage you to contact your Brady Martz advisor for the latest information.

North Dakota Loan Relief Programs to Assist Business With Recovery from COVID-19 UPDATE

The Bank of North Dakota (BND) provides financing programs to assist North Dakota businesses in obtaining long-term, low-interest loans to assist in the state’s economic recovery from the COVID-19 pandemic. The loan programs will help both small and large businesses to secure working capital and replenish inventory.  The BND recently added the CPR II Program below to assist with payment of interest expense.  See details below and fact sheet links.


The Small Employer Loan Fund (SELF) will provide a loan of up to $50,000 to small businesses with a full-time employee equivalent (FTE) of 10 employees or less. These loans may be used for working capital, recurring expenses and replenishing inventory. Business owners will work with their local lender to access the program. The loan has a maximum term of 10 years and a fixed interest rate of 1%, with deferral of loan payments for up to six months.

COVID-19 PACE Recovery (CPR) Program – Applications accepted through November 30, 2020

The COVID-19 PACE Recovery Program (CPRP) will provide a loan of up to $5 million for businesses of less than 500 employees and a loan of up to $10 million for businesses with more than 500 employees. Loan payments may be deferred for up to six months, at which time the loan will term out with up to a 10-year amortization. The interest rate on the loan will be bought down by BND to 1% for a period of time, with a maximum buydown of $500,000. Business owners will access the program through their local lender. Unlike other PACE program offerings from BND, there is no community match required.

COVID-19 PACE Recovery II (CPR II) Program – Applications accepted through November 30, 2020

The COVID-19 PACE Recovery II (CPR II) Program assists North Dakota businesses impacted by the COVID-19 pandemic. The program will pay your interest expense accrued on eligible existing debt from April 1, 2020 through September 30, 2020. It does not need to be repaid.  

To qualify, North Dakota businesses must have been established before Feb. 15, 2020 and loan applications must be received before Nov. 30, 2020.

See here for further details:

Bank of North Dakota Business Loans

SELF Loan Fact Sheet

CPRP Loan Fact Sheet

CPRP II Loan Fact Sheet