North Dakota PACE Program
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The PACE Program provides interest buydown to assist in the financing of primary sector businesses, such as healthcare facilities in North Dakota, including Critical Access Hospitals and medical facility expansion/improvement projects.
The PACE Fund helps communities expand their economic base. The program has two elements:
- Participation by Bank of North Dakota with a local lender in a community-based loan
- Participation by the PACE Fund with the local community to reduce the borrower's interest rate
Funds may be used for:
- Critical access expansion or improvement projects of healthcare facilities in North Dakota
- Purchase of land
- Purchase, lease, erect, or improve any structure or facility
- Purchase of equipment
- Working capital
Eligible applicants are primary sector businesses certified by the North Dakota Department of Commerce, including individuals, corporations, limited liability companies, partnerships or associations which through the employment of knowledge or labor adds value to a product, process, or service that results in the creation of new wealth.
Buydown amounts are dependent upon a minimum investment or jobs created. Consult the table in the buydown requirements on the program website.
Links to additional guidance and the application process are available on the program website.
For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.