During its stakeholder meetings held in 2018, Bank of North Dakota (BND) identified a need for technology industry financing. Technology businesses have a unique set of challenges because their capital is primarily human capital, therefore traditional financing options aren’t available. The Accelerated Growth Loan is already impacting the tech industry in North Dakota as demonstrated in these five-minute videos featuring two, successful Fargo-based businesses, BNG Team and Bushel.
The Accelerated Growth Loan assists North Dakota-based companies entering or anticipating a period of dynamic growth. These companies have a record of proven operations, experienced management and the ability to generate cash flow, but have limited assets for traditional bank financing. Business owners access this loan by working with their local lender. Visit Bank of North Dakota’s website at bnd.nd.gov to learn more about this and other loan programs that assist businesses at all stages of development.