North Dakota Expands Low-Interest Farm Loan Program as Applications Approach $300 Million

The state's Industrial Commission authorizes additional funding to meet high demand for the 2026 Farm Financial Stability Loan Program.

Published on Feb. 25, 2026

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The North Dakota Industrial Commission is expanding a low-interest loan program designed to support farmers and ranchers, with applications approaching $300 million. The 2026 Farm Financial Stability Loan Program allows agricultural producers who sustained operating losses in recent years to restructure their debts at lower interest rates. The program has become the largest in the state-owned Bank of North Dakota's history, surpassing the previous record of $190 million.

Why it matters

Farmers and ranchers in North Dakota have faced significant financial difficulties in recent years due to a combination of factors, including low commodity prices, high expenses, the impact of tariffs, and a series of storms. The low-interest loan program is aimed at helping agricultural producers in the state avoid losing their farms or having to sell off land to make ends meet.

The details

The Industrial Commission has given the Bank of North Dakota authority to transfer up to $80 million from another agricultural relief initiative, the 2026 Grain Inventory Loan Program, to bring the funding for low-interest operating loans to $380 million. The CEO of the Bank of North Dakota, Don Morgan, said the Farm Financial Stability Loan Program 'might run tight again' in the coming months and the bank has the resources to further expand it if necessary.

  • The application window for the 2026 Farm Financial Stability Loan Program opened on December 9, 2025.
  • The deadline for farmers and ranchers to apply for low-interest loans through the program is June 9, 2026.

The players

North Dakota Industrial Commission

The state government agency that is expanding the low-interest loan program for farmers and ranchers.

Bank of North Dakota

The state-owned bank that administers the 2026 Farm Financial Stability Loan Program through local banks and credit unions.

Don Morgan

The CEO of the Bank of North Dakota, who said the farm loan program has become the largest in the bank's history.

Doug Goehring

The North Dakota Agriculture Commissioner and a member of the Industrial Commission, who said the terms of the farm stability loan are 'pretty good' and are being 'utilized and tapped' by farmers.

Kelly Armstrong

The Governor of North Dakota and the chair of the Industrial Commission, who said the commission is giving farmers 'optionality' by shifting funds from the Grain Inventory Program to the Farm Financial Stability Loan Program.

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What they’re saying

“The terms on the farm stability loan are pretty good. I can see why that's being utilized and tapped. It buys people some time to put some capital together and put themselves in a better position.”

— Doug Goehring, North Dakota Agriculture Commissioner (North Dakota Monitor)

“We're giving you optionality.”

— Kelly Armstrong, Governor of North Dakota (North Dakota Monitor)

What’s next

The Bank of North Dakota CEO, Don Morgan, said he may return next month and request authorization to increase the funds available for the Farm Financial Stability Loan Program, as it 'might run tight again' in the coming months.

The takeaway

The expansion of the low-interest farm loan program in North Dakota highlights the ongoing financial challenges facing the state's agricultural producers, who have been hit by a combination of factors including low commodity prices, high expenses, and extreme weather events. The program is a crucial lifeline for farmers and ranchers struggling to keep their operations afloat.