Loans & Services

Part of being the Cornerstone of the Community means delivering products and services to our primary industry: Agriculture. We are an agricultural-oriented bank. From our well-seasoned lenders to services specifically tailored to our farm & ranch producers; MCB is your one-stop lender for agriculture producers.

Sprinkle in our ability to relate to our consumer and business clients and you have a small town bank ready to serve your needs - now and into the future.

Bank of North Dakota Loan Programs
Farm Service Agency Guarantee Services
We are a Small Business Lender

Paycheck Protection Program (PPP) First and Second Draw Loans

SBA is reopening the Paycheck Protection Program (PPP) the week of January 11, 2021. PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

First time borrowers. “First Draw Loans” In general, borrowers can have no more than 500 employees and their business must have been in operation as of February 15, 2020. The first loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $10 million loan maximum.
Second-time borrowers.” Second Draw Loans” Businesses can apply for a second PPP loan if they’ve spent or expect to spend the full amount of their first PPP loan before they receive funding for the second loan. In general, borrowers can have no more than 300 employees. The second loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum.
- Accommodations and Food Services companies with NAICS code 72 can borrow up to 3.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum.
- All businesses applying for a second PPP loan must show that their business revenue declined by at least 25% in any quarter in 2020 compared to the same quarter in 2019. Ag customers will use annual gross receipts.
- Businesses can apply for a second loan whether or not they have requested Forgiveness.
These highlights will apply to many borrowers, but there are some exceptions. For full program details, visit SBA.gov and Treasury.gov.
Both the First and Second Draw PPP Loans may be fully forgiven if :
- Employee and compensation levels are maintained
- The loan proceeds are spent on payroll costs and other eligible expenses; and
- At least 60 percent of the proceeds are spent on payroll costs.

Call MCB for more information.

Apply for CFAP Additional Assistance

USDA’s Farm Service Agency will accept new or modified CFAP applications from eligible producers January 19 through February 26, 2021. Certain producers will receive updated payments automatically.

Are you eligible for additional assistance through CFAP? Application information related to your operation is detailed below by the specific commodity you grow or raise.

Producers who are modifying their applications should contact their local USDA Service Center for assistance.
Producers who are filing new applications should contact their Service Center or call 877-508-8364 for one-on-one support.

Additional information for those now eligible to apply for CFAP 2 or for eligible producers making CFAP 2 application modifications is available at farmers.gov/cfap2/apply.

Leases