The Bank of North Dakota is making another loan program to help farmers and ranchers hurt by rising costs and existing debt. The Ag Disaster Relief Program allows up to a 10-year amortization for chattel and up to a 25-year amortization for real estate. Both programs have a five-year balloon payment and the first year may be interest free. Farmers and ranchers can access the program by working with their local lender. The North Dakota Industrial Commission approved this new loan program.
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