The North Dakota Industrial Commission will allow the Bank of North Dakota to help state businesses get long-term low interest loans during the coronavirus. The Small Employer Loan Fund will provide a loan of up to $50,000 to small businesses with 10 or less full-time employees. These loans can be used for working capital, recurring expenses and replenishing inventory. The COVID-19 PACE Recovery Program will provide a loan of up to $5 million for businesses of less than 500 employees and up to $10 million for businesses with more than 500 employees. The programs take effect on Wednesday. To qualify, North Dakota businesses must have been established before February 15 and loan applications must be received before November 30. Read more.
