North Dakota SBA lending, from federal loan records
SBA Lenders Actively Funding Businesses in North Dakota
Since FY2020, 101 lenders have funded 1,172 SBA loans worth $638M for businesses in North Dakota. Borrowers reported 10,942 jobs supported by those loans. Below is who actually writes them, how big they run, and which North Dakota businesses get funded.
Most active SBA lenders in North Dakota
Ranked by loans funded for North Dakota projects since FY2020, not by advertising budget. A lender headquartered elsewhere that funds heavily in North Dakota beats a local name that rarely writes SBA loans.
| Lender | Program | ND loans since FY2020 | Since FY2025 | Median loan | Median rate |
|---|---|---|---|---|---|
| Dakota Business Lending | 504 (CDC) | 213 | 38 | $401K | n/a |
| Lake Agassiz Certified Development Company | 504 (CDC) | 89 | 24 | $468K | n/a |
| Lewis & Clark Certified Development Company | 504 (CDC) | 68 | 18 | $522K | n/a |
| Bravera Bank | 7(a) | 67 | 9 | $60K | 5.75% |
| U.S. Bank, National Association | 7(a) | 65 | 20 | $30K | 8.74% |
| First Western Bank & Trust | 7(a) | 58 | 6 | $178K | 4.75% |
| Aspire Bank | 7(a) | 54 | 3 | $139K | 4.62% |
| Old National Bank | 7(a) | 52 | 8 | $297K | 6% |
| Town and Country CU | 7(a) | 39 | 16 | $125K | 7.74% |
| Midwest Business Finance Corporation | 504 (CDC) | 33 | 7 | $557K | n/a |
| Choice Financial Group | 7(a) | 29 | 7 | $232K | 8% |
| Starion Bank | 7(a) | 26 | 1 | $113K | 6% |
| Alerus Financial, National Association | 7(a) | 25 | 8 | $637K | 7.75% |
| Capital Credit Union | 7(a) | 23 | 0 | $70K | 5.25% |
| Bell Bank | 7(a) | 20 | 8 | $233K | 9.25% |
| Red River State Bank | 7(a) | 19 | 0 | $675K | 4.35% |
| Bank Forward | 7(a) | 19 | 0 | $100K | 5% |
| Wells Fargo Bank National Association | 7(a) | 15 | 4 | $35K | 12% |
| Cornerstone Bank | 7(a) | 11 | 7 | $275K | 7.25% |
| First State Bank & Trust | 7(a) | 10 | 2 | $329K | 5.5% |
| Frandsen Bank and Trust | 7(a) | 10 | 3 | $765K | 5.12% |
| Dacotah Bank | 7(a) | 10 | 3 | $190K | 7.5% |
| Readycap Lending, LLC | 7(a) | 10 | 6 | $344K | 11.25% |
| Security First Bank of North Dakota | 7(a) | 9 | 3 | $137K | 7.25% |
| Union State Bank of Hazen | 7(a) | 9 | 5 | $80K | 6.9% |
504 loans are written by Certified Development Companies alongside a bank first mortgage. The 504 file reports no interest rate, so CDC rows show none.
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Start your funding profile →How big North Dakota SBA loans run
Share of North Dakota 7(a) loans by approval size, next to the national split. If your ask sits in a common band, it is the kind of loan lenders here fund every week.
| 7(a) loan size | ND | US |
|---|---|---|
| Under $150K | 42.9% | 40.4% |
| $150K to $500K | 35.5% | 31.9% |
| $500K to $1M | 10.1% | 12.9% |
| $1M and up | 11.4% | 14.9% |
Who gets funded in North Dakota
Business age on North Dakota 7(a) loans. 13.1% funded a change of ownership, against 11.1% nationally. Buying a business? See the acquisition lender shortlist. Starting one? See startup-friendly lenders.
| Business stage | ND | US |
|---|---|---|
| Established, more than 2 years | 48.3% | 55.2% |
| New, 2 years or less | 21% | 16.9% |
| Startup, loan opens the business | 17.6% | 16.8% |
| Change of ownership (buying a business) | 13.1% | 11.1% |
Industries North Dakota SBA lenders fund most
Share of all North Dakota SBA loans by industry, and how that compares with the national mix.
| Industry | ND loans | Share | Compared with US |
|---|---|---|---|
| Construction | 157 | 13.4% | in line with national |
| Restaurants and hotels | 144 | 12.3% | in line with national |
| Retail | 144 | 12.3% | in line with national |
| Personal and repair services | 136 | 11.6% | 1.2x the national share |
| Healthcare | 109 | 9.3% | in line with national |
| Professional services | 86 | 7.3% | 0.8x the national share |
| Manufacturing | 62 | 5.3% | 0.8x the national share |
| Business support services | 62 | 5.3% | in line with national |
The most common specific business types funded in North Dakota: full-service restaurants (44), hotels (except casino hotels) and motels (36), landscaping services (36), limited-service restaurants (30), beauty salons (28), all other specialty trade contractors (26).
Where in North Dakota the loans go
| County | SBA loans since FY2020 | Share of state |
|---|---|---|
| Cass | 517 | 44% |
| Burleigh | 143 | 12% |
| Grand Forks | 83 | 7% |
| Williams | 82 | 7% |
| Ward | 78 | 7% |
| Stark | 43 | 4% |
| Morton | 36 | 3% |
| Mckenzie | 21 | 2% |
7(a) or 504 in North Dakota
34% of North Dakota SBA loans are 504 loans, against 12% nationally. A 504 loan funds owner-occupied real estate or major equipment, with a median of $453K here. A 7(a) loan covers almost anything else, including working capital and buying a business. The busiest 504 lenders in North Dakota:
- Dakota Business Lending: 210 504 loans, median $407K
- Lake Agassiz Certified Development Company: 89 504 loans, median $468K
- Lewis & Clark Certified Development Company: 68 504 loans, median $522K
- Midwest Business Finance Corporation: 33 504 loans, median $557K
North Dakota SBA lending by year
| Fiscal year | 7(a) loans | 504 loans | Dollars |
|---|---|---|---|
| FY2020 | 129 | 71 | $81M |
| FY2021 | 162 | 86 | $134M |
| FY2022 | 108 | 66 | $87M |
| FY2023 | 84 | 44 | $70M |
| FY2024 | 114 | 48 | $74M |
| FY2025 | 109 | 55 | $130M |
| FY2026 (through June 30, 2026) | 63 | 33 | $63M |
The SBA fiscal year runs October through September.
Common questions
Who is the most active SBA lender in North Dakota?
By funded loans since FY2020, Dakota Business Lending leads North Dakota with 213 loans through the 504 program. The most active 7(a) lender is Bravera Bank, with 67.
How big is a typical SBA loan in North Dakota?
The median 7(a) loan in North Dakota is $175K, and the middle half runs from $61K to $420K. The median 504 loan is $453K. Nationally the 7(a) median is $200K.
What interest rate do North Dakota SBA borrowers get?
The median starting rate on North Dakota 7(a) loans since FY2020 is 7%, against 9.25% nationally. 59% of those loans carry a variable rate, which moves with the prime rate.
Can a startup get an SBA loan in North Dakota?
Yes. 39% of North Dakota 7(a) loans with a reported business age went to startups or businesses two years old or younger, against 34% nationally. Lenders still expect a solid plan, owner equity and usually collateral.
Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records, FY2020 through June 30, 2026, for projects located in North Dakota. Cancelled approvals are excluded. Jobs supported are as reported by borrowers. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.