Coronavirus
Coronavirus Information Center
Severe weather outlook South Dakota

Industrial Commission approves loan recovery program for North Dakota ethanol producers

Local News

The North Dakota Industrial Commission approved a loan recovery program for ethanol producers Thursday.

Agriculture Commissioner Doug Goehring estimates the coronavirus has had anywhere between a $600-million and $800-million impact on the industry.

The program, through the Bank of North Dakota, is similar to their small employer and CPR loans. The request was made by the North Dakota Ethanol Producers Association.

According to BND President and CEO Eric Hardmeyer, our state’s ethanol plants support more than 10,000 jobs. Right now, the industry estimates demand for gas, and subsequently, ethanol has been cut by 50 percent.

“I believe this will provide kind of the lifeline they need to get to the other side of this,” added Kirby Evanger, BND Chief Credit Officer.

The program will provide loans of up to $15-million for big-scale producers, which BND says will last about 18 months for the average company.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Videos

Bismarck Graduates

Thumbnail for the video titled "Bismarck Graduates"

Parents react to graduation

Thumbnail for the video titled "Parents react to graduation"

Robert One Minute 5-24

Thumbnail for the video titled "Robert One Minute 5-24"

State Lab Equipment Malfunction

Thumbnail for the video titled "State Lab Equipment Malfunction"

Bottineau Track

Thumbnail for the video titled "Bottineau Track"

Watford City Summer School

Thumbnail for the video titled "Watford City Summer School"

Minot Gated Community

Thumbnail for the video titled "Minot Gated Community"

Barricaded Subject in Bismarck

Thumbnail for the video titled "Barricaded Subject in Bismarck"

COVID-19 Case Report Update 5-24

Thumbnail for the video titled "COVID-19 Case Report Update 5-24"

Spring golf championship

Thumbnail for the video titled "Spring golf championship"

Bismarck Brewery

Thumbnail for the video titled "Bismarck Brewery"

Robert Suhr KX News 6pm Forecast 5-23-20

Thumbnail for the video titled "Robert Suhr KX News 6pm Forecast 5-23-20"

Robert One Minute 5-23

Thumbnail for the video titled "Robert One Minute 5-23"

XWA Airport

Thumbnail for the video titled "XWA Airport"

Tioga Prom

Thumbnail for the video titled "Tioga Prom"

DCB Baseball

Thumbnail for the video titled "DCB Baseball"

Case Numbers Update 5-23

Thumbnail for the video titled "Case Numbers Update 5-23"

Columbus Zoo Jamani

Thumbnail for the video titled "Columbus Zoo Jamani"

Broadway Circle Details

Thumbnail for the video titled "Broadway Circle Details"
More Video

COVID Symptoms infographic

KX News Trending Stories

North Dakota Resources

North Dakota Resources

More Resources

Don't Miss

Daily Pledge

More Daily Pledge