Assistance for the recovery, long term resiliency and growth of ND small businesses

North Dakota District Office - May 6, 2020

u s small business administration

Paycheck Protection Program Loan Money Still Available

The Paycheck Protection Program has money available to help North Dakota businesses that have been negatively impacted by COVID-19. 

The Paycheck Protection Program is a loan designed to help small businesses keep their workforce employed. Loan funds can be used for payroll costs, mortgage interest, rent, and utilities, for the 8 weeks following the first loan disbursement.

For businesses that, due to the uncertainty of current economic conditions, require this support for ongoing operations, the full principal amount of the loan may be forgiven if required conditions are met:

  • At least 75% of proceeds must be used for payroll costs in the 8 weeks following the first loan disbursement
  • Employee and compensation levels must be maintained
  • No more than 25% of proceeds may be used for mortgage interest, rent, and utilities

New guidance is released regularly on SBA's Paycheck Protection Program web page. Keep detailed records and supporting documentation of how you're spending PPP funds. Check the SBA website regularly for additional guidance on loan forgiveness.

SBA Economic Injury Disaster Loan (EIDL) Update

Prior to the evening of March 29, 2020, EIDL applicants received a 10-digit application number that begins with the number 2. If you have not been contacted by an SBA loan officer, and have not yet re-applied, please re-apply today using the online streamlined application at  to request the EIDL Advance. When you re-apply, your original application will be tied to your new loan number (that will begin with a "3"), and your application will be processed based on the original application date.

If you have submitted an application and have a loan number that begins with a “3”, you are in the queue and your patience is appreciated. EIDL applications are processed on a first-come, first-served basis.

SBA’s Economic Injury Disaster Loans can provide support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses and 2.75% for non-profits. All COVID-19 EIDL loans will be for 30 year term with no payments for 12 months.

Visit for more information.

North Dakota SBDC Launches the 4R Project - Recover, Re-open, Re-invent, (be) Resilient

The North Dakota Small Business Development Center (ND SBDC) has launched a statewide effort to help North Dakota small businesses weather the hardships caused by the COVID-19 pandemic.

The 4R Project - Recover, Re-open, Re-invent, (be) Resilient - provides no-cost business advising, training and education resources from the program's team of professional, certified business advisors. Services are available statewide and include assistance with planning and apply for financial assistance and debt relief options; addressing impacts on supply chains, operations, finances, payroll, distribution channels, and sale of products; developing web integration, e-commerce, online sales/distribution and digital marketing; creating and implementing disaster plans and Continuity of Operations plans to help sustain business activities during interruptions; and mitigating the risks of cyber threats.

“Small businesses really are the heart of each of our communities, they make up the majority of business entities in our state, and they are the foundation of our state’s economy,” said Interim State Director Tiffany Ford. “Our communities will not survive and thrive if we do not support the small businesses that have built our main streets and continue to offer necessary products, services and employment to the citizens of North Dakota. Our mission is to serve, and we are happy to be able to provide a vast array of offerings and expertise to small businesses, in order for them to re-open, to rebuild or pivot operations, and to ensure that the business owner has the support they need to be resilient and continue to grow. We encourage our small businesses to reach out and lean on us during this challenging time.”

Additional funding has been provided to the ND SBDC for increased service capacity and expansion efforts through a cooperative agreement with the U.S. Small Business Administration with CARES Act appropriations.

“SBA is pleased to support additional funding to help the ND SBDC increase their efforts to help small businesses come back from the COVID-19 pandemic. The SBDC network is made up of very talented, devoted business advisors that can directly help businesses with strategies to get back to business.” said Al Haut, SBA North Dakota District Director.

Information about the 4R Project can be found on the ND SBDC's website at

ND SBDC is part of the SBA's Resource Partner Network. These local partners extend our reach, offering free or low-cost mentoring, counseling, and training to help you start-up and thrive at all stages of business. Together, we can help you plan your business, conduct market research, analyze your competition, and secure funding.

Bank of North Dakota Loans

The Bank of North Dakota (BND) is offering two financing programs to assist North Dakota businesses in obtaining long-term, low-interest loans to assist in the state's economic recovery from the COVID-19 pandemic. The loan programs will help both small and large businesses secure working capital and replenish inventory.

The Small Employer Loan Fund (SELF) will provide a loan of up to $50,000 to small businesses with a full-time employee equivalent (FTE) of 10 employees or less. These loans may be used for working capital, recurring expenses and replenishing inventory. Business owners will work with their local lender to access the program. The loan has a maximum term of 10 years and a fixed interest rate of 1%, with deferral of loan payments for up to six months.

The COVID-19 PACE Recovery Program (CPRP) will provide a loan of up to $5 million for businesses of less than 500 employees and a loan of up to $10 million for businesses with more than 500 employees. Loan payments may be deferred for up to six months, at which time the loan will term out with up to a 10-year amortization. The interest rate on the loan will be bought down by BND to 1% for a period of time, with a maximum buydown of $500,000. Business owners will access the program through their local lender. Unlike other PACE program offerings from BND, there is no community match required.

To qualify, North Dakota businesses must have been established before Feb.15, 2020 and loan applications must be received before Nov. 30, 2020.

To learn more about loan program specifics, visit

Upcoming Events:

Government Contracting Webinar: SBA Federal Certifications

Tuesday, May 12, 2020

Learn about federal certifications you may be eligible for. SBA will cover the 8(a) Business Development Program; Small Disadvantaged Business (SDB); Woman Owned Small Business (WOSB) and Economically Disadvantaged Woman Owned Small Business (EDWOSB) and the HUBZone certifications. You will learn about the certifications and how PTACs can help you with your application.


Business Builders Live: Using Data to Drive Business Growth

Tuesday, May 12, 2020

Learn best practices and analyze trends about how customers engage with your business online, then turn these insights into well-informed, actionable decisions.

In this session we’ll talk about:

  • Identifying  business goals and how you plan to use your online presence to achieve them
  • Incorporating data into your marketing plan
  • Selecting tools to help you find the answers you need


Dakota Business Lending ACTIVATE Women Webinar: Cutting Edge Marketing

Tuesday, May 12, 2020

Free and open to all women business owners.

Learn More