North Dakota Development Fund Board votes to extend initial payment suspension
17 Apr 2020
The North Dakota Department of Commerce announced that the North Dakota Development Fund (NDDF) Board voted to extend the initial 30-day loan suspension for an additional two months. The extension suspends all payments for both principal and interest for all outstanding NDDF loans for an additional 60 days, effective April 16.
The initial suspension was announced on March 19 in response to the novel coronavirus (COVID-19) pandemic.
During the extension period, regular payments will not be due, and interest will not accrue. The extension will not affect the maturity date of the loan.\
More Topics
The North Dakota Department of Commerce encourages all North Dakota residents to participate in the North Dakota COVID-19 Community Impact Survey.
Led by Commerce’s Main Street Initiative team in partnership with other state agencies, the survey opened to the public this week and already has provided valuable input that will hel...
On Tuesday, March 31, the Treasury Department and Small Business Administration (SBA) released additional information around the CARES Act and specifically the Payroll Protection Program. The CARES coronavirus relief package created a nearly $350 billion program under which businesses with 500 or fewer employees can receive loans to maintain employmen...
