Send application, via email, to your BND Business Banker.

Step 1
Review email.

Step 2
Obtain all required documents and return to BND BB. Documents differ depending on loan type. All required documents must be submitted before underwriting can be started.

Step 1
BND begins underwriting process.

Step 2
Loan approval length is dependent upon exposure amount, approximately 5-7 business days.

Step 3
If loan is approved, loan conditions are set.

Step 4
Credit analyst and/or BND Banker will contact lead bank with questions during this time.

If approved, Lead Lender receives email containing commitment letter, program specific documents, and documentation checklist.  If denied, Lead Lender receives email with denial notification.

• Commitment Letter: Contains terms of participation and conditions of the approval as well as process and contact information.
• Program Specific Documents: Lead Bank is responsible for obtaining all required signatures and returning to BND prior to funding. Originally signed documents are not required.
• Documentation Checklist: Outlines all documentation needed on the loan. The status will indicate if the document is required prior to funding, on-going, or needed after the loan funds.
• Additional requirements: BND doesn’t track these, but requires lead lender to monitor them.

Step 1
Lead lender signs commitment letter and sets estimated funding date. Email to BND. Lead lender doesn’t need to return original. Commitment letter provides expiration date.

Step 2
Lead Lender can begin sending loan documents and supporting documentation needed prior to funding as it is available to bndloanfunding@nd.gov

Step 3
BND sends notification of loan funding date.

Step 1
When funding date is finalized, send all preliminary documents 24 hours before closing/funding for review.

Step 2
Any changes/approvals will be communicated by e-mail.

Step 3
Send the executed documents to bndloanfunding@nd.gov.

Step 4
The cut off time is 3 p.m. CT; however, BND can back date.

Step 1
Review email for accuracy and retain for your records.

Step 2
After the loan is funded, on-going documentation can be sent to bndloandocument@nd.gov.

Prior to completing modification, submit to BND BB. BND BB review request and obtains approval based on borrower’s exposure.

Lead lender receives email from BND.

Lead Lender submits executed modification/CIT to bndloandocument@nd.gov with any additional documentation required to properly document the change.