How Can I Sign North Dakota Banking Work Order

How to industry sign banking north dakota work order

[Music] [Brett Johnston] A lot of times the revenue comes at different times. It's sporadic especially when you're just starting. Bank of North Dakota in utilizing their programs, they allow us to use interest only for the interim period, as we're working through construction, as we're working through fit up, and getting operations up and running. The Flex PACE and the PACE programs are absolutely critical in these startup ventures as we allow them to come in with a principal and interest payments that are far less than a typical amortization. [Craig Hanson] North Dakota's economy is ever-changing. The Bank of North Dakota's Flex PACE program has worked to address these needs and inspire economic diversification for more than two decades. The key relationships between the entrepreneur their local lender as well as the economic development support from local communities that partnership with Bank of North Dakota and those entities really makes this thing work. [Jawaid Surani] Interest is a big part of the loan, so it helps a new business. First year, you you are, you don't know, means you can make the numbers and everything, but you don't know how the business is going to be. So that gives you a little bit satisfaction that you have some help to take care of that. [Angela Skogen] The amount of resources and changes that have happened in last 10 years has been pretty remarkable. I mean we started with one very small building have expanded and remodeled that, and it's really just kind of fed on itself and I think it has a lot to do with some tenacity and some great owners out in Western North Dakota, but I think the programs like you guys bring with Bank Bank of North Dakota has been vital to allow small business owners and entrepreneurs that want to jump in and either purchase a building or remodel a building or envision something that hasn't been done before a lot of flexibility to get out there and try it and be successful and have the opportunity to kind of really learn as they're going. [Chelsea Bulzomi] For S&S, it really helped us give us the flexibility that we needed. When you're renovating an old building like this, you just don't know how long it's going to take. You have an estimate, but it gave us the flexibility we needed to do right the first time, and then, not rush to fill our other tenant spaces, make sure we got the right fit. That three-year period we have with the loan buydown it really gave us the flexibility to not be worried about those interest payments. [Christie Obenauer] Eventually, you guys should write a book about all the Flex PACE success stories across the state. You could fill a book at least that size with all the stories of what a difference that program has made. [Music]