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 are extremely grateful for our partnership with Gate City Bank that has assisted hundreds of Fargo homeowners in renovating and repairing their properties,” Mayor Dr. Tim Mahoney stated. “Through this public-private collaboration, we are investing in Fargo's mature neighborhoods, strengthening our community and helping to shape a promising future for our residents.”
Gate City Bank originally made the NRI available to Fargo residents in 2003 and has since contributed $127 million across its footprint.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 beyond thankful for the communities we call home, and we’re proud to invest in them so they remain beautiful for years to come,” said Jeana Marshall, SVP of Personal Lending Operations. “We’re excited to continue growing this local partnership with The City of Fargo, which is greatly benefiting homeowners and neighborhoods.”
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 Monday, March 17, through Friday, October 31, 2025. For more information, please 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 4.48% interest rate for 120 monthly payments of $521.98 will have a 4.66% annual percentage rate (APR).