On October 10th, applications were opened for the Furloughed Federal Employee Relief Program.
It provides low-interest loans for employees who are out of work because of the federal shutdown. It offers loans at a two percent interest rate for those workers.
The Bank of North Dakota has partnered with local lenders to provide the bridge loans.
"So far, we've got right at 33 applications, at about $384,000," said Bank of North Dakota President and CEO Don Morgan.
Morgan said He says he didn’t know what to expect in terms of the demand. He says North Dakota has 9200 federal workers, and the thought was that between 500 and one thousand would be helped by the program.
"We're pretty happy for the slower start," Morgan said. "It's given us a chance to work out the kinks of a brand new program."
And Morgan said the demand may be down because of President Trump’s announcement for pay for the military.
"The good news is, it's working," Morgan said. "It's now just the question of, I think we're wondering just as much as anybody, what will be the volume coming in. I think we stand prepared for any amount coming in. We'll have to wait and see."
The program ends January 9th, 2026, or when the shutdown ends.
