Abstract
BND is a unique institution combining elements of banking, fiduciary, investment management services, and other financial services, and state government with a primary role in financing economic development. The bank offers commercial financing programs for farming, ranching, small business, start-up enterprises, community development, and other areas. The Bank of North Dakota rarely makes direct loans; instead, when a community bank wants to give a sizable loan but lacks the capital, the state bank will partner on the loan and provide a backstop.
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Notes
- 1.
Stacy Mitchell (2015): Public Banks: Bank of North Dakota, Institute for local Self Reliance.
- 2.
Abby Rapoport (2013): The People’s Bank-American Prospect, 24(2): 82–87.
- 3.
This program has been built up to purchase down the interest rates on loans to farmers who are investing into other nontraditional agribusiness exercises to supplement cultivate income.
- 4.
Family Farm Loan Program: The North Dakota governing body has built up a program to help family farms. This program permits BND to take an interest in loans for qualified purposes up to 90% of the loan amount.
- 5.
Abby Rapoport (2013): The People’s Bank-American Prospect, 24(2): 82–87.
- 6.
K. Amadeo (November 9, 2016). The Great Recession of 2008: Explanation with Dates. Retrieved February 14, 2017, from The Great Recession of 2008: Explanation with Dates.
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Lessambo, F.I. (2020). Public Bank—Bank of North Dakota. In: The U.S. Banking System. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-34792-5_10
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DOI: https://doi.org/10.1007/978-3-030-34792-5_10
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