Gate City Bank has once again partnered with The City of Fargo on the Neighborhood Revitalization Initiative (NRI), contributing $2 million to help keep the community’s mature neighborhoods strong. The program provides homeowners with loans at a below-market-interest rate to address qualifying property repairs and improvement projects.
“We sincerely appreciate our longstanding partnership with Gate City Bank, which over the years has helped hundreds of Fargo homeowners renovate and improve their properties,” Mayor Dr. Tim Mahoney stated. “By investing in our neighborhoods, we are strengthening our community and building a strong, vibrant future for our residents.”
Gate City Bank originally made the NRI available to Fargo residents in 2003 and has since contributed over $127 million across its footprint. Qualifying homeowners have used the below-market-interest loans to make updates that range from patio additions and new garages to furnace replacements and accessibility improvements.
“At Gate City Bank, we’re deeply grateful for the trust our communities place in us, and we’re committed to providing solutions that help them thrive,” said Jeana Marshall, Senior Vice President of Personal Lending Operations. “Continuing this partnership with the City of Fargo allows us to make a meaningful difference for local homeowners while helping keep Fargo’s established neighborhoods strong.”
Loans are available to finance new improvement projects not yet under construction and may be used for items such as structural corrections, energy upgrades and general property improvements. Other important details of the initiative include:
• Homes must be 40 years or older.
• Residences must be occupied by their owners.
• The assessed value of homes must be less than $300,000.
• Participating homes must be located within the NRI boundary.
Applications are reviewed on a first-come, first-served basis as funds are available. Applications will be accepted March 16 through October 31, 2026. For more information, visit FargoND.gov/NRI.
Terms and conditions may apply. Loans can range from $10,000 to $100,000 and have repayment options of 10 or 15 years with an annual percentage rate (APR) as low as 4.66%.* Gate City Bank is an Equal Housing Lender. Member FDIC.
*A $50,000 home equity loan at a 4.49% interest rate for 120 monthly payments of $522.09 will have a 4.66% annual percentage rate (APR).