BND Infrastructure Loan Fund

The BND Infrastructure Loan Fund provides loans to political subdivisions for repair, replacement and new infrastructure projects. Through June 30, 2017, the project must be implemented by an eligible North Dakota subdivision. Applications for all North Dakota subdivisions will be accepted July 17-28, 2017. See ‘Eligibility’ for all requirements.

In order to qualify for these funds, the community must access other state and federal government funding options first. This loan may be used to provide gap funding if the full project cost cannot be met through other funding sources or if there are no other funding sources available. BND will take into consideration timing and the opportunity to maximize funding sources.

Through June 30, 2017 5:00 p.m. CT: The project must be implemented by an eligible North Dakota subdivision and meet priority raking criteria established by BND. Political subdivisions which received funds distributed by the state treasurer or the Department of Transportation as approved by Senate Bill 2103 will be ineligible to receive a loan until July 1, 2017. Click here to review the list of ineligible communities.

June 30-July 16, 2017: No applications are being accepted.

July 17-July 28, 2017: Any North Dakota city or county may apply to the Infrastructure Revolving Loan Fund. This application period for the 2017 construction season closes July 28, 2017 at 5 p.m. CT.  If you are considering applying for a loan in this period, please contact the Bank soon to discuss the project.  This will also provide BND with an understanding of the anticipated need for funding.

Funds may be used for new construction, repair and replacement of:

  • Water or wastewater treatment plants
  • Sewer, storm sewer and water lines
  • Transportation infrastructure including curb and gutter construction
  • Other infrastructure needs

Ineligible uses of proceeds include:

  • Building construction other than structures integral to the approved use of funds
  • Refinancing of existing debt or other obligations
  • Any type of flood control project or project related to floor control including: modifying diversion channels, tieback levees and internal storm sewers for flood control.
  • Funding for airport infrastructure projects

Cumulative loan amounts may not exceed $15,000,000 per applicant. If you received funds during the first application period but did not meet the $15,000,000 limit, you may apply for the balance in subsequent rounds.

Interest rate: 2.00% fixed rate

Fees: The borrower will be responsible for all closing costs associated with the loan.

BND may take all steps necessary and appropriate to preserve security.

The term of the construction and permanent financing period may not exceed 30 years.

Ineligible Communities (PDF)
New Infrastructure Loan Fund Application
 (PDF) – This form may be used to apply for repair, replacement and new infrastructure projects.
Population Data
Qualifying Project Determination form (PDF)

Two application periods are currently set:

Through June 30, 2017 5 p.m. CT: The project must be implemented by an eligible North Dakota subdivision and meet priority rating criteria established by BND. Political subdivisions which received funds distributed by the state treasurer or the Department of Transportation as approved by Senate Bill 2103 will be ineligible to receive a loan. Click here to review the list of ineligible communities.

July 17-July 28, 2017: Any North Dakota city or county may apply to the Infrastructure Revolving Loan Fund. This application period for the 2017 construction season closes July 28, 2017 at 5 p.m. CT.

A project application must be submitted to BND during an open application period.  The linked application may be used for repair, replacement and new infrastructure projects. Application includes:

  • Projects that can be started or completed in the 2017 construction season will be given first priority.
  • A description of the nature of the proposed infrastructure project with information on the need, the reasons it is in the public interest and the overall economic impact to the state or regions within the state
  • The estimated cost of the project and the amount of the loan sought
  • A listing of other sources of funding for the project intended to leverage the dollars requested of the BND Infrastructure Loan Fund

BND will review and determine project priority ranking based on established parameters. After receiving conditional approval from BND, the applicants will be asked to provide financial and other supporting information to complete the loan underwriting process.

If you have any questions, email or call us at 701.328.5795 or 800.472.2166 ext. 328.5795.