(JSDC)  A reminder from the Jamestown/Stutsman Development Corporation (JSDC) that just a few days remain to apply, as the state of North Dakota set aside $50 million of CARES Act funding to help local business owners. Bank of North Dakota (BND) is distributing this through the COVID PACE Recovery II (CPR II) program by reimbursing businesses for interest on business related debt accrued between April 1-September 30, 2020. These funds do not need to be repaid.

 

Applications are being accepted through October 30, 2020 at 5 p.m. CT. The interest expense eligible for these funds includes any debt on which a business owner accrued interest. It covers interest on all existing debt, held by any creditor, not just a local financial institution or BND. Examples include, but are not limited to, loans held by a financial institution, interest paid to a leasing company, working capital loans or credit cards used for business expenses.

 

Business owners can receive up to $50,000.

 

For more information, click here.