Partnership in Assisting Community Expansion (PACE) Program (North Dakota)

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Last modified on February 12, 2015.

EZFeed Policy

Place North Dakota


   

Name Partnership in Assisting Community Expansion (PACE) Program (North Dakota)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Bank of North Dakota
Primary Website http://banknd.nd.gov/lending_services/business_financing_programs/business_incentive_programs.html



Last Review 2014-09-15



Summary

The Partnership in Assisting Community Expansion (PACE) Program is available to finance the purchase of equipment or real estate, as well as term working capital. In conjunction with community support, the program provides an interest buy down that can reduce the borrower's rate of interest by as much as 5%. This buy down can mean an interest savings of approximately $462,000 over the term of the loan. In return, the borrower must create one new job in North Dakota for each $100,000 of total loan proceeds.




      
     
     


















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