Gate City Bank has contributed $ 10 million to a home improvement loan program for six cities in North Dakota and central Minnesota, including Grand Forks.
The goal of the loan program is to revitalize mature neighborhoods and help local homeowners make repairs and improvements with low-interest loans of $ 10,000 to $ 75,000. The application period for the program is now open and ends on October 31.
Creating a better way of life for our clients, communities and other team members is at the heart of who Gate City Bank is, said Jeana Marshall, vice president of personal loan operations. We were very excited to see where these local partnerships can benefit homeowners and communities.
Qualifying improvements for the Home Improvement Program range from patio additions and new garages to security repairs, including replacement of heaters and accessibility improvements. Funds can be used to correct codes and structural fixes, energy upgrades, and general property upgrades. A total of $ 10 million has been allocated in 2021 for programs in the following cities: Grand Forks, Fargo, West Fargo, Wahpeton, Moorhead, Minnesota and Fergus Falls, Minn.
Applications must be received by October 31st and projects must be within city limits. Each project is subject to a credit qualification and a housing assessment. Applications are reviewed on a first come, first served basis, and each location may have varying rates and information available.
For more information on the Home Renovation Program, call 701-293-2400 or visit gatecity.bank/about-us/home-improvement-programs.
Gate City Bank was founded in 1923. The bank employs more than 735 team members at 43 locations in 22 communities in North Dakota and central Minnesota, and was named one of the 50 Best Places to Work for seven years of continued by Prairie Business magazine.
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