The ABCs of Dakota Business Lending
Oct 1, 2021
While small business financing is our forte, we are so much more than that.
To better showcase who we are and what we do, we're sharing with you the ABCs of Dakota Business Lending. Find out what DBL is really made of!
A is for ACTIVATE
ACTIVATE is a program designed to assist entreprenuers with facing the fears and unknowns that starting/owning a business brings and moving their business forward. There are two ACTIVATE programs available today:
B is for Board of Directors
Dakota Business Lending has established itself as a lending partner for small businesses thanks to the wisdom, leadership, and guidance of our Board of Directors. These nine passionate, impact-driven individuals bring with them centuries worth of expertise in the areas of business, finance, economic development, and public service, and help guide our organization’s long-term direction.
We are grateful to be led by these inspiring professionals!
C is for Calculator
Our online 504 calculator allows users to get financing structure options for 10, 20, and 25-year SBA 504 loans, explore various loan options, and make comparisons. Fully customizable, this widget can help you make better informed financial decisions for your project moving forward.
D is for Debt Refinance
Want to get an even better deal for your business? The SBA 504 Debt Refinance program is a long-term refinancing option for restructure existing debt and cashing out equity for working capital…all at an incredibly below-market interest rate!
E is for Entrepreneurs
The business owners…the pioneers…the risk takers…the entrepreneurs. These daring individuals are what our work is all about and are truly why we love what we do.
Check out their incredible stories.
F is for Fixed-Rate Financing
Our primary financing program, the SBA 504, provides an incredible fixed-rate financing option for new and existing businesses. Borrowers can get up to $5.5M for long-term fixed assets with a minimum 10% down payment, fixed below-market interest rate, and up to a 25-year term.
G is for GrowHub
We strive to become the lead resource for you and your business. That’s why we created the GrowHub – a central place to offer you the practical knowledge needed for your business to thrive for decades to come.
Check out our most articles and resources made available just for you.
H is for Headquarter Building
Located in Fargo, ND, our headquarter building is a state-of-the-art facility with a story to tell. This building was constructed in 2018 using as many of our borrowers and partners as possible. It was designed intentionally to create an atmosphere for creative thinking and problem solving, and has interweaved rich ND/MN history within its walls. We are proud to serve you in it!
I is for Interest Rates
One of the largest benefits to the SBA 504 loan program is its fixed, below-market interest rates. This year, the rates have remained at or below 3% - an all-time low – providing a great opportunity for business owners to start or expand their business at a rate where they can thrive.
J is for Journey
We know that small business ownership is an adventure…and that’s why we set out to join our entrepreneurs on their journey to success. Regardless of what type of loan you need or what that path may look like, our team is excited to get to know you, understand your opportunities and challenges, and provide you with the boost you need to be successful.
K is for Knowledgeable
One of our core values at Dakota Business Lending is “knowledgeable”. As small business financing experts, it is our mission to share our knowledge with you, educate you on your financing options, and help you make a well-informed financial decision for your business. And we’re with you every step of the way!
L is for Long-Term Fixed Assets
Long-term fixed assets are eligible for financing through the SBA 504 loan program. These include things such as real estate, land, equipment, and specialized property.
M is for Montana
In 2019, we began offering our services to small businesses in rural Montana under the SBA 504 Loan Program Rural Initiative Pilot Program (504 Rural Pilot). Later that year, we opened in office in Lewistown and officially become a multi-state CDC, serving the entire state of Montana. Today, we work to bring the 504 to all who are in the 406 and help small businesses grow and thrive.
N is for ND's Top SBA Lender
Dakota Business Lending prides itself in being the top SBA lender in North Dakota for 11 consecutive years. In 2021 alone, we have provided 53 loans under the SBA 504 loan program, totaling over $39M in capital to assist small businesses as they start or expand their ventures.
O is for Ownership
One of the best parts of our job is helping entrepreneurs become business owners and seeing their dreams come to life. Owning a business brings freedom, creativity, and new opportunities, and we are proud to play a small part in the journey for so many inspiring individuals across ND, MN, and MT.
P is for Partnerships
You’ll often hear us say that we are in the business of creating “partnerships that make a difference.” That’s because being solely a lender is not enough for us. We strive to form partnerships with our borrowers and business owners, providing custom financing packages tailored to their specific needs and helping them grow and expand with unique opportunities only they have.
Let’s work together to help you achieve your dreams.
Q is for Questions
The road to small business can be confusing and overwhelming. For all those questions you have floating around in your head, we are here to help.
We’ve answered some most common questions in regard to the SBA 504 loan program.
R is for Resource Partners
It is very common for businesses to, at some point, need assistance with formalizing business plans, forecasting, analyzing business financials, and other business ownerships details. Dakota Business Lending frequently refers our borrowers to our resource partners. These entrepreneurial development resources offer education, training, and technical assistance to business owners across ND, MT, and MN:
S is for Stacking Resources
There are three fundamentals you need to know about financing:
- Financial consists of many building blocks
- There are more financing resources today than ever before
- Financing packages are made to be unique
With those key principles in mind, Dakota Business Lending has the ability to partner with multiple financial entities and resources to create a custom financing package tailored towards your needs. We find unique ways to bring programs together and truly help you and your business thrive.
T is for Team
We would not be where we are today without our team - the dedicated, passionate, and hard-working individuals who work day-in and day-out to serve YOU: our borrowers, partners, lenders, and supporters. Our team consists of knowledgeable people with a wide range of expertise and a common mission to see small businesses succeed. We couldn’t ask for a better group of people!
U is for U.S. Small Business Administration
The SBA is a U.S. government agency that supports small businesses and entrepreneurs. They are our partnering organization that provides the SBA 504 loan program and offer a variety of other free resources and programs that are instrumental to the success of small businesses nationwide.
V is for Value-Driven
Integrity. Dedication. Knowledgeable. Professionalism. Responsiveness.
These are the core values that Dakota Business Lending was founded on and have practiced for 39+ years. They guide our organization’s decisions and help us better serve our borrowers, lenders, and partners each and every day.
W is for Women Business Owners
We have worked with so many incredible and inspiring women business owners over the years, and have made it part of our mission to continue to assist them as they work to start, grow, and expand their businesses.
That’s why we created ACTIVATE Women: a free learning workshop series for that give women business owners a chance to come together and learn from local experts about a variety of topics and build a network of support and growth.
X is for (e)Xpansion
The SBA 504 loan program is a great resource for owners looking to expand their business. Whether you are wanting to purchase real estate, construct a new building, build an addition, purchase new equipment, or renovate/improve your property, the program may be able to provide you the financing necessary for all your expansion needs.
Y is for Yes
One of the most rewarding aspects of our job is seeing entrepreneurs say “yes” and walking with them on the journey towards achieving their dreams. These individuals are brave. They are resilient. They are incredibly hard working. And they make our communities and our economies better because of it.
Small business owners: thank you for saying “yes”.
Z is for Zero Limitations for Growth
The sky is the limit for small business! With the wide variety of resources, other businesses, and opportunities that exist today, there is always something out there to help small business owners with their dream. And we want to be help you find it!
And there you have it! We hope you’ve gained a deeper insight into who we are, what we do, and how much we love small business.
The ABCs of Dakota Business Lending highlight just a few of the many aspects that make up our organization, and we hope we get to one day partner with you and share all that we are made of.