Forward Devils Lake works with the Bank of North Dakota to offer the Flex Funding Program. This program is intended to assist in projects which benefit the economy of the Lake Region area.
- The applicant must construct the business within the city limits of Devils Lake, ND and it must follow all the of the Bank of North Dakota’s guidelines. Click here for BND guidelines.
- The amount of the incentive is limited to no more than $50,000 as a local share.
- Project must start construction within 6 months of FDL approval for the project.
- The local share would be paid back to FDL after the original loan is paid. FDL will record a second mortgage or lien on the property to protect its interest. Payback of FDL funds will be over 5 years at 0% interest.
- Forward Devils Lake Board of Directors reserves the right to review and change the guidelines as needed.
- FDL would have a second mortgage or lien.
- Project must be at least $400,000.