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Nov 15, 2022
As a key resource for business owners, Dakota Business Lending wants to help you find the answers you need to reach your goals and fulfill your dreams. That is why we are answering YOUR questions about all things financing, entrepreneurship, and small business. This issue, let’s talk about the 5 W’s of business financing…
Nov 15, 2022
Small business owners often struggle to find guidance from someone who knows what it’s like to walk in their shoes. SCORE seeks to fill that gap. By providing free and confidential mentoring to entrepreneurs across the nation, SCORE Mentors assist current and aspiring business owners with starting and growing their business…all with firsthand knowledge and experience…
Nov 15, 2022
What makes a superhero? Is it the cape? A cool name? A villain to fight against? We believe the real superheroes are made when they use their powers to better themselves, their families, and their communities. Lucky for us, we have a few right here in North Dakota who are working towards bettering our society…one small business at a time…
Nov 15, 2022
It is very common for small business to, at some point, need assistance with formalizing business plans, forecasting, analyzing business financials, and other business ownership details. Fortunately, there are many FREE resources available to help put those pieces together for you. Here are some more entrepreneurial development resources for education, training, and technical assistance…
Nov 15, 2022
Tonya Holmstrom joined the Dakota Business Lending Board of Directors in July of 2019 and was recently appointed Chair of the Board in August of 2022. In 2019, she became a partner in Schmitz-Holmstrom, an accounting firm in Bismarck, ND, with over 15 years of public accounting experience under her belt and currently serves on several other boards throughout the state…
Aug 23, 2022
You’ve done your research, created a business plan, formulated financial projections, and are on your way to visit with your lender about financing options. You believe this new startup idea or expansion opportunity has the potential for success and are ready to take the next step forward. That’s when it happens: the lender asks you about the one thing you didn’t think about. You walk out of the office feeling defeated…with more work to do….
Jul 11, 2022
Financial statements are some of the most critical aspects of running a successful business, yet they often leave business owners feeling confused and overwhelmed. At our last ACTIVATE Women session, we kicked off our 3-part series on financial statements by hearing from Rhonda Elkin, Kait Nichols, and Chontay Clements with Schmitz-Holmstrom, CPA about the income statement…
Jul 5, 2022
Achieving financial freedom can be done in a variety of ways – strict budgeting, eliminating unnecessary costs, and increasing efficiencies, just to name a few. We’re here to tell you about our personal favorite, the SBA 504 Debt Refinancing program, and how it can give you the cash flow need you to succeed….
Jun 16, 2022
Inflation. Price increases. Rising interest rates. These topics seem to be on everyone’s minds today… especially as small business owners continue to navigate the current economic conditions and stabilize or grow their business. Here is a quick look at what the SBA 504 program looks like in a rising rate environment and how the program can benefit small businesses during this time…
May 27, 2022
The world of digital marketing is constantly evolving, making it a challenging and overwhelming task for many business owners. To be effective, digital marketing requires knowledge of both the places and ways your target audience likes to be interacted with, as well as the ability to measure its effectiveness…and it can feel like a full time job. At our last ACTIVATE Women session, Tiffanie Honeyma shared what you need to know about marketing online and how you can do it efficiently and effectively…
