BUSINESS ASSISTANCE PROGRAM OF THE MONTH

The PACE and Flex PACE programs offered through the Bank of North Dakota are two of the most utilized economic development programs in the state.

PACE and Flex PACE are interest buy-down programs by which a project works through a lead bank of their choice and the Bank of North Dakota along with the local community “buy down” the interest rate on the loan.

The programs require participation by a local lender and participation by the local community to reduce the borrower’s interest rate. To learn more about these two effective programs contact Nathan at the Chamber EDC office by calling der@bmcedc.com.