Local lenders understand the financial needs of their customers best. In 1919 when BND was voted into law, a pivotal decision was made that they would serve as the delivery channel for BND loan programs. This means that BND does not compete with local lenders but partners with them to benefit local economies.
As of December 31, 2023, there are more than $1.3 billion in business and agriculture loans supporting North Dakota residents and delivered through local lenders. In 2020, the statewide banking associations identified the need for timely, reasonably priced collateral valuation services and approached BND to determine if the Bank could play a role. The 2021 Legislature approved the staffing level required to start the service, and after a pilot conducted in 2021, collateral valuation services were offered to all financial institutions starting in January 2022.
