The Bank of North Dakota is preparing a new loan program aimed at helping farmers weather tough economic conditions.
Bank president Don Morgan told the state Industrial Commission this week that low crop prices, high interest rates and inflation have created what he calls an “extreme stress situation” for agriculture heading into 2026.
The plan will be modeled after a 2019 program that allowed banks and credit unions to restructure farm debt at below-market rates. Details are still being drafted, but Morgan expects to return to the commission later this fall with a final version in time for the 2026 loan renewal season.
The North Dakota Monitor reported extensively on the plans.
Governor Kelly Armstrong and Ag Commissioner Doug Goehring have said lawmakers could also consider additional relief if needed, especially with a possible special session early next year.
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