North Dakota Beginning Farmer Chattel Loan Program
The Beginning Farmer Chattel Loan Program assists farmers and ranchers purchasing equipment and livestock. The limit is set at not less than 50% nor greater than 80% of the total loan amount with a lifetime cap of $500,000 per borrower. The interest rate is fixed at 1% below BND's current base rate with a maximum of 6% per year for the first five years of the loan. Interest is variable at 1% below BND's then current base rate for the next two years, adjusted annually on the anniversary date. The applicant may not have previously farmed for more than 15 years.
State Beginning Farmer Loan Programs