26 September, 2022

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Home » Gate City Bank announces low-interest home revitalization program

Gate City Bank announces low-interest home revitalization program

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 from $10,000 to $75,000. The application period for the program is now open, and runs through Oct. 31.

“Creating a better way of life for our customers, communities and fellow team members is at the heart of who Gate City Bank is,” said Jeana Marshall, vice president of personal lending operations. “We’re very excited to see where these local partnerships can benefit homeowners and communities alike.”

Qualifying improvements for the Home Improvement Program range from patio additions and new garages, to safety repairs, including furnace replacements and accessibility improvements. Funds may be used to address code and structural corrections, energy improvements and general property enhancements. A total of $10 million has been allocated in 2021 to programs in the following cities: Grand Forks, Fargo, West Fargo, Wahpeton, Moorhead, Minn. and Fergus Falls, Minn.

Applications must be received on or before Oct. 31, and projects must be within city limits. Each project is subject to a credit qualification and a home evaluation. Applications are reviewed on a first-come-first-served basis, and each location may have varied rates and information available.

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More information about the Home Improvement Program can be found by calling 701-293-2400, or visiting 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 across North Dakota and central Minnesota, and has been named one of the “50 Best Places to Work” seven years in a row by Prairie Business magazine.