Gate City Bank, Fargo invest $2 million into neighborhood revitalization

FARGO — Homeowners in Fargo can now apply for a low-interest loan to fix up older homes.

The city of Fargo has partnered with Gate City Bank for the 18th year running to provide Fargo homeowners with low-interest loans through the Neighborhood Revitalization Initiative (NRI). The program allows residents to address qualifying property repairs and improvement projects, according to a release from the city.

Gate City Bank and Fargo will invest $2 million into the NRI to help preserve some of Fargo’s older neighborhoods.

Loans are available to property owners who reside in homes that were built more than 40 years ago and are assessed at a value of less than $275,000 within the NRI boundary, the release said.

Loans between $10,000 and $100,000 can be used to finance new improvements not yet under construction and include items such as structural corrections, energy upgrades and general property improvements.


Repayment options of 10 or 15 years are available and come with an annual percentage rate (APR) as low as 3.17%, according to the release.

Applications will be reviewed on a first-come, first-serve basis for as long as funds are available. Interested homeowners have until Oct. 31, 2023 to apply.

Those seeking more information can visit

Since the program began in 2003, Fargo homeowners have used the loans to make a wide range of updates to their homes including patio additions, new garages, furnace replacements and accessibility improvements.

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