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Home » Loans » Infrastructure Loans » Long-Term Care Facility Infrastructure Loan Fund

The Long-Term Care Facility Infrastructure Loan Fund provides loans to nursing and basic care facilities for renovation projects or construction of new facilities.

Applications will be accepted starting August 1 through September 2, 2025, until 5:00 p.m. CT.

An application by the governing board of the nursing or basic care facility must be made to the Bank of North Dakota.

Applications for Long-Term Care Facility Infrastructure Loans (PDF) will be reviewed and prioritized with the North Dakota Long-Term Care Association.

If an application is selected for a loan, BND will require the following items:

  • All required attachments as detailed in the application
  • Evidence of approval of the building plans from the North Dakota Department of Health
  • Any other data or documentation as deemed necessary

Contact us or call (701) 328-5795 or (800) 472-2166 ext. 328-5795.

Long-Term Care Facility Infrastructure Loans (PDF)

To ensure proper functionality, BND forms MUST be downloaded and then opened with your system’s PDF application. Click here for download instructions.

If you are not able to access a PDF, please contact us for assistance.

Proposed nursing or basic care facility must have an expected utilization of at least 30 years.

Applications will be reviewed and prioritized in coordination with the North Dakota Long-Term Care Association.

Proceeds may be used for:

  • Purchase of land
  • Purchase, lease, erection, or improvement of any structure or facility to the extent that the governing body of the nursing or basic care facility has authority to authorize such activity

The maximum amount of a loan may not exceed 50 percent of the project costs within the following parameters:

  • The maximum loan amount is $10,000,000 per project or borrower
  • The construction period must not exceed 24 months after loan approval by the Bank

Interest rate:

2.00% fixed rate

Fees:

BND may charge an origination fee and charge the borrower for all construction-related loan servicing expenses.

Loan will be secured by all available collateral interests. BND will work with other alternative financing sources in perfecting collateral interests for all parties.

The loan provides permanent financing and requires monthly amortized payments not to exceed twenty years.