Agency / Department: North Dakota Opportunity Fund
Resource: NDOF Disaster Loan
Details: Under the program, small businesses…
– Must show they’ve been adversely affected by the pandemic
– May apply for up to $50,000 in loans
– Will pay zero percent (0%) interest
– Will not make any payments for the first six months; after six months, the loan will be four percent (4%) amortized for up to five years
Typically, businesses may use the North Dakota Opportunity Fund for construction, real estate, equipment purchases, working capital, and for interim SBA 504 loans. However, under the terms of the disaster loan program, impacted businesses can seek loans only for working capital.