City of Fargo, Gate City Bank Partner for Neighborhood Revitalization

 

The City of Fargo and Gate City Bank have announced an investment by Gate City Bank in Fargo’s Neighborhood Revitalization Initiative (NRI) Program. The bank has created a two million dollar loan pool for the NRI program. The program offers an interest rate of 3-point-59 percent APR. It is available to homeowners of an owner-occupied residence that is 40 years or older, and the home’s assessed value must be less than $250,000. The maximum amount of the loan through the NRI program is $75,000. The deadline to apply is October 31, 2018. For more information, go to www.fargond.gov/NRI.