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Agriculture Diversification and Development Fund

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Home » Loans » Ag Loans » Agriculture Diversification and Development Fund
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The Agriculture Diversification and Development Fund (ADD) was established to support new or expanding value-added-agriculture businesses that demonstrate financial feasibility, enhance profitability for farmers and ranchers, create jobs and grow North Dakota’s economy. The funding opportunities include grants and interest buydowns.

For grant inquires, contact North Dakota Department of Agriculture.

To receive interest buydown from the Agriculture Diversification and Development Fund, a business must first secure a local financial institution to lead the transaction. BND will be a participant in the loan. There is no specified maximum loan amount.

If you have any questions, contact us or call (701) 328-5795.

Value-added agriculture business registered with the North Dakota Secretary of State’s office or North Dakota resident that diversifies a crop or animal industry and provides collateral uses for agriculture resources. Businesses with a majority ownership comprised of North Dakota residents will have priority over majority non-North Dakota-owned applications. Companies outside North Dakota must have an established relationship with a North Dakota partner which includes individual, company or agency to validate the credibility of the proposal and comply with the intent of the Code.  The types of projects may include but are not limited to:

  • Food production and processing facilities
  • Feed or pet food processing facilities
  • Commodity processing facilities
  • Agriculture product manufacturer
  • Animal production facilities

Priority consideration is given to projects most consistent with the mission of the Agriculture Diversification and Development Committee as established in North Dakota Century Code 4.1-01.1. Emphasis will be given to those proposals deemed most likely to generate economic returns and support agricultural-based prosperity of a region or sector of the state.

Proceeds may be used to:

  • Purchase or lease equipment.
  • To establish a value-added agriculture business.
  • To expand an existing value-added agriculture business.

Proceeds may not be used to:

  • Fund salaries or operating expenses normally associated with standard business practices.
  • Refinance an existing loan or debt.

Interest buydown: To receive interest buydown from the Agriculture Diversification and Development Fund, a business must first secure a local financial institution to lead the transaction. BND will be a participant in the loan. There is no specified maximum loan amount.

The program will limit the borrowing rate to 5.00% below the yield rate, but in no event may the interest rate be more than five hundred basis points below the national prime interest rate. (If the prime rate is published as a range, the highest interest rate in that range will be used for purposes of this program.) In no case will the ADD Fund buydown an interest rate below 1.00%.

ADD buydown is based on the total investment of the proposed project and based on the following matrix guideline:

ADD BuydownMinimum investment
Tier One$100,000Up to $1,200,000
Tier Two$200,000$1,200,001-$2,200,000
Tier Three$300,000$2,200,001-$3,500,000
Tier Four$400,000$3,500,001-$4,500,000
Tier Five$500,000$4,500,001-$5,500,000
Tier Six$600,000$5,500,001-$6,500,000
Tier Seven$700,000$6,500,001-$7,500,000
Tier Eight$800,000$7,500,001-$8,500,000
Tier Nine$900,000$8,500,001-$9,500,000
Tier Ten$1,000,000$9,500,001 +

Interest buydown: The security on the loan receiving interest buydown shall consist of a first lien position on real estate or equipment. Personal guarantees will generally be required from the principals with respect to all corporate and partnership borrowings.

Interest buydown: The term of the loan is negotiable between the originating financial institution and BND.

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Bank of North Dakota

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TF:Toll-Free Phone Number: (800) 472-2166 P:Local Phone Number: (701) 328-5600 TTY:TTY: (800) 366-6888

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