Bank of North Dakota / Contributed
The North Dakota Industrial Commission is shifting $80 million into a record-breaking relief program for farmers and ranchers as high expenses and low commodity prices continue to squeeze the state’s agricultural sector, according to Jacob Orledge from the North Dakota Monitor.
The 2026 Farm Financial Stability Loan Program has already seen $270 million in hundreds of applications, nearly exhausting its original $300 million cap in just over two months. These low-interest loans have been quite popular since applications opened in December. Don Morgan, CEO of the state’s Bank of North Dakota, told the North Dakota Monitor that this program has largely escalated, surpassing the previous application record of $190 million.
The surge in applications stems from a “perfect storm” of financial pressures over the last year; a combination of low commodity prices and high input expenses, the lingering impact of trade tariffs, and severe summer storms left many producers at risk of losing their land or entire operations, according to the Monitor.
With two and a half months left in the typical loan renewal season, Morgan anticipates there may be a need for increased funding in the program. He warned the commission that he may return in March to request an additional $100 million to keep the program from running dry.
Producers who sustained operating losses in recent years can apply through local North Dakota banks or credit unions, with the application window closing on June 9, 2026.
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