North Dakota Code 6-09.13-03 – Loans to farmers – Purposes – Eligible uses
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The loan moneys received by a farmer under this chapter must be used for a farm business. Eligible uses are:
Terms Used In North Dakota Code 6-09.13-03
- capital: as used in this title embraces the amount of outstanding capital notes and debentures legally issued by any banking institution. See North Dakota Code 6-03-42
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. Purchase of real property and equipment.
2. Expansions.
3. Working capital.
4. Purchase of inventory.
5. Subsurface field tiling projects.
The moneys cannot be used to refinance any existing debt.