Last month, we put the spotlight on the Bank of North Dakota's PACE Program. This month, we're focusing on a popular PACE spin-off called Flex PACE.
Like PACE, Flex PACE has two major elements: (1) participation by BND with a local lender in a community based loan, and (2) participation by the PACE Fund with the local community in reducing the borrower's overall interest rate. However, there are two key differences between the two. First, a Flex PACE does NOT need to be a "primary sector" business and second, there is no job creation requirement from the Bank of North Dakota.
Under Flex PACE, the community determines eligibility and accountability standards. Also, Flex PACE allows communities the ability to provide assistance to borrowers with a business focus or need outside of the current requirements of PACE.
For more information on the program, please visit the BND's website HERE or contact Mr. Brad Thompson at 701-328-5687 or email@example.com.
DISCLAIMER: This is intended for informational purposes only. This communication in no way constitutes a guarantee of assistance or incentive from the BMDA or the aforementioned agency