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there is one simple reason young entrepreneur Kim Holt decided to return to his hometown of Williston North Dakota money a lot of activity a lot of opportunity for for people like myself to get a jumpstart on life that jumpstart occurs behind the counter of three amigos Grill where since he set up shop in 2011 here you go thank you business has boomed I got out here and realized it's on one of the busiest locations and probably the busiest town in in the United States but despite the best circumstances oil boom high demand for restaurants ideal location getting three amigos off the ground and running was not a sure thing banks typically don't like to land on restaurants because there isn't really any hard assets into the loan that they give but this is not a typical part of the country and Holt concedes he's in business today because of one institution we might not have got the loan if it wasn't for the bank in North Dakota the Bank of North Dakota founded in 1919 to help control lending rates for farmers is the only state owned and operated bank in the country and over the years it's morphed and changed into kind of a financier of economic development chief executive officer Eric hard Meyer has overseen part of that metamorphosis which has brought record profits and growth in the last four to five years as Bank has gone from a four billion dollar bank to a seven billion dollar bank Hart Meyer says what makes the bank unique answering to tax payers instead of shareholders is one of the keys to its success we are here to you know serve our mission to to finance agriculture commerce and industry that mission has proven successful and put cam Holt in business he was able to secure a loan for three amigos to a private lender backed by the Bank of North Dakota's small business program bank in North Dakota secures I believe up to eighty percent of the loan that we've got from first Western Bank and trusts so it gives them an opportunity to take on more risk and you know give guys like myself the ability to come into a restaurant and it starts something that doesn't have any collateral to back it up really Holt says most people he knows view the Bank of North Dakota as a benefit that attracts business to the state the bank in North Dakota wants to see this oil boom sustain itself for a long period of time so they want to see businesses like myself and and other small business owners come in and and put businesses into place here in the oil boom that are long-lasting and you know support the community and it's not just communities in the oil fields over the last decade about three hundred million dollars from the Bank of North Dakota's profits were deposited into the state's general fund reducing the overall burden on taxpayers statewide Kane Farabaugh VOA news Williston North Dakota