DBL Mobile Calculator
SBA 504
Interest Rates
March 2019

10 Yr: 4.628%

20 Yr: 4.586%

25 Yr: 4.741%

DBL Calculator
504 Loan

We have the Loan you need.

We know you’re busy. We also know that small business lending programs can be complex and you don’t have time to waste figuring out what kind of financing your small business or clients need for continued growth. That’s why we’re here. We tailor solutions specifically for small businesses. Our hands-on approach to lending helps deliver expertise to borrowers across North Dakota, Western Minnesota, and Rural Montana, and we aim to create jobs that keep our communities thriving.

We have several loan programs to fit almost any business need – but don’t worry about figuring out which program you need, we will do that for you.  Learn more below about what makes Dakota Business Lending a great choice as a small business financing partner for lenders and borrowers.
*Specific project eligibility guidelines apply for all of our loan programs. Talk to a Dakota Business Lending expert for complete details.

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Available Loan Programs

Financing for Start-up Businesses: SBA 7a Community Advantage, Main Street and Kiva loans.
Obtaining financing is often one of the most significant challenges of being a start-up. Dakota Business Lending specializes in partnering with borrowers with limited financial resources and no history to get the financing they need. This helps them launch their new business and build the businesses credit to become bankable in 3-5 years.
Financing for Existing and Growing Businesses: SBA 7a Community Advantage, Rural Development IRP, SBA ILP, and Main Street loans.
Growing businesses have a variety of ways they need financing to keep momentum going and profits growing. Dakota Business Lending offers several programs that provide loans from $1,000-$250,000 with low down-payment, and competitive interest rate options.
Financing for Real Estate & Long Term Fixed Assets: SBA 504 loans.
When your business is ready to take the steps toward expansion, Dakota Business Lending has the proper tools to get you there. Whether purchasing commercial real estate, obtaining major equipment, or consolidating debt, an SBA 504 or SBA 504 Debt Refinance loan program is tough to beat.
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SBA 504 - Long-term, fixed rate options for growth

Why choose an SBA 504: The goal of the SBA 504 program is to create and retain jobs through long-term financing of real estate and equipment at a fixed, below-market interest rate. Businesses often have difficulty qualifying for traditional financing due to required down payments of 20 percent or more. Loans through the 504 Program can finance 90 percent (504 loan plus third party lender loan) of a project’s cost for qualifying businesses, preserving cash flow during a longer repayment term.
Loan amounts:  $25,000 – $5 million (up to $5.5 million in certain cases)
Down payment:  Minimum 10%
Eligible projects:  The SBA portion of these 504 financing packages may be used for the following fixed-asset projects:
Real Estate acquisition, construction, renovation or expansion, including the purchase of land.

Land and site improvements, including grading, streets, parking lots, utilities or landscaping.

Purchase and installation of new or used machinery and equipment.

Interest on interim financing.

Professional fees directly attributable and essential to the project such as surveying, engineering, architectural or legal.

Business acquisition or partner buyout of the above uses may be eligible.

Limited debt refinance with expansion.

 Straight refinance of commercial real estate, eligible fixed assets and cash out for business operating expenses.
Eligible businesses:  For-profit corporations, limited liability companies, partnerships or proprietorships with net worth not more than $15 million and average net income not exceeding $5 million in the past two years. The project being financed must demonstrate economic impact on its community, primarily through job creation or retention or some public policy objective. Ineligible businesses include investment companies, gambling facilities and lending institutions.
Collateral and security:  Mortgage on the land and building being financed; liens on machinery, equipment and fixtures; lease agreements, and personal guarantees from individuals with 20 percent or more ownership in the company (or limited guarantees from those with less than 20 percent ownership). The participating lender receives the first lien on the collateral; SBA holds the second lien.
Terms:  10, 20 and 25 year terms for real estate and long term fixed assets, determined by use of proceeds
Rate:  Fixed rate determined at the time 504 loan is funded, 6-8 weeks after project’s completion
Interim Financing:  Funding of the 504 portion of the loan package usually takes place within two months after the project is completed. This means that interim financing is required, usually by the local financial institution that holds the first mortgage or lien; the participating lender advances capital as the project begins and is repaid from the proceeds of the SBA debenture.
Download 504 Loan Application Packet

SBA ILP (Intermediary Lending Program) - Helping small businesses start and expand

Why choose an SBA ILP: These fixed-rate, 5-15 year term loans up to $200,000 are intended for small businesses who may not be able to obtain conventional funding, or who need gap financing for a conventional loan. ILP loans may be used for working capital, equipment and inventory or real estate. 
Loan amounts:  Up to $200,000
Down payment:  Minimum 10%
Eligible projects:
Working capital, equipment and inventory and real estate
Eligible businesses: 
 Special emphasis on businesses in Fargo, Grand Forks, Bismarck and Minot
 Special emphasis on businesses run by women entrepreneurs
Collateral and security:  All loans shall be secured by the available assets of the borrower and its principals to the extent necessary to protect the interests of the lender as a secondary source of repayment. Lien on assets financed plus additional collateral as necessary.
Terms:  5-15 years
Rate:  Fixed rate at the time the application is reviewed, depending on risk and length.

SBA 7a Community Advantage - Financing for Start-ups and Underserved Communities

Why choose an SBA 7a Community Advantage: The Community Advantage program is designed to provide a financing option for small business start‐ups in underserved communities. The SBA provides a 75 – 85% guarantee, providing participating lenders with more confidence in offering financing to riskier start‐up businesses. Community Advantage can be used to complement other loan programs.
Loan amounts:  Up to $250,000
Down payment:  Minimum 10%
Eligible projects:
Working capital



Real Estate – purchase, renovation, leasehold improvements

Business acquisition

Debt refinancing*
Collateral and security: All loans should be secured by the available assets of the borrower and its principals to the extent necessary to protect the interests of the lender.
Retail, service and agriculture: Annual sales not to exceed range of $750,000 to $33.5 million

Wholesale and manufacturing: Number of employees not to exceed range of 100 to 1,000

Up to 10 years – Working capital/equipment

Up to 25 years – Real Estate

Varies – Debt Refinance
Rate:  Variable, Maximum = Prime + 6%

Rural Development IRP - Spurring development in rural areas

Why choose IRP: Borrowers in rural communities (population under 50,000) may benefit from a fixed-rate, 5-15-year loan up to $250,000 to finance a new or existing business, purchase equipment or real estate or use as working capital. Health-related IRP loans are also available, as Dakota Business Lending has established a partnership with Impact Foundation as well as the U.S. Department of Agriculture to offer the Intermediary Relending Program (IRP).
Loan amounts:  Up to $250,000
Down payment:  Minimum 10%
Eligible projects: IRP loan funds can be used for (but are not limited to) these purposes:
Finance a new or existing business.

Purchase machinery and equipment.

Finance the acquisition of real estate.

Provide working capital.
The proceeds cannot be used for certain kinds of projects:
Tourist, recreation or amusement centers.

Community television services or facilities.

Charitable and educational institutions, churches, or fraternal organization
Eligible businesses:
Any private business, non-profit entity, political subdivision, public body, special purpose district or authority serving

  rural areas with populations below 50,000 is eligible for these IRP funds.

Emphasis will be placed on loans to health and safety related organizations serving rural North Dakota.

Business is unable to obtain the proposed loan elsewhere at a reasonable rate.

 51% of the owners or members must be citizens of the U.S. or individuals admitted for residents.
Collateral and security: Personal guaranties required by all owners over 20% ownership; 1st lien or shared 1st lien position required on all collateral
Terms: 5 – 15 years; generally the term is 7 years or less.
Rate:  Fixed rate at the time the application is reviewed, depending on risk and length.

Dakota Medical Foundation/Impact IRP - Health and Safety-related Financing in Rural Communities

Why choose DMF/IMPACT IRP: Borrowers in rural communities (population under 50,000) may benefit from a fixed‐rate loan with a term of up to 15 years to finance health and safety projects. Projects may include purchase of machinery or equipment, purchase of real estate, working capital and more. In addition to small businesses, any non‐profit entity, political subdivision, public body and special purpose district or authority in rural communities are also eligible.
Loan amounts:  Up to $150,000
Down payment:  Minimum 10%
Eligible projects: Health or safety-related projects including, but not limited to initiatives for medical clinics, veterinary clinics, dental, or vision clinics, health food stores fitness centers, ambulance or first responders, hospitals, and fire departments.
Collateral and security: All loans shall be secured by the available assets of the borrower and its principals to the extent necessary to protect the interests of the lender.
Terms: Up to 15 years, generally matching the use of proceeds.
Rate:  Fixed rate at the time the application is reviewed, depending on risk and length.

Main Street Program - Supporting the entrepreneurial spirit

Why choose Main Street: Start-up and/or growing small businesses including home-based businesses may benefit from these fixed-rate loans to finance working capital, inventory and small equipment. Dakota Business Lending participates with local lenders and also makes direct loans to businesses.

The purpose of Dakota Business Lending Main Street Program is to encourage the creation, stability, and expansion of small businesses in North Dakota. The Main Street Program may provide financing in participation with a local economic development entity to assist emerging businesses as well as support their job retention mission. Dakota Business Lending intends to be an integral part of the economic growth and development of entrepreneurial activity in North Dakota.
Loan amounts:  $1,000 - $35,000
Down payment:  Minimum 10%
Eligible projects: Working capital, inventory, small equipment
Eligible businesses: Small Businesses (new or existing) operating in North Dakota. Talk with Dakota Business Lending for a complete list of eligibility requirements.
Collateral and security: Personal guaranty; 1st lien assets, cosigners, etc.
Terms: Working capital: 1-18 months, Equipment: up to 3 years, Maximum: 5 years
Rate:  Fixed rate (established at time of loan approval)

Kiva - Micro-financing for Emerging Entrepreneurs

Why choose Kiva: Small, start‐up, and home‐based businesses are the engine of economic growth and job creation. Kiva provides small business microloans to inspiring entrepreneurs working to make a positive impact in the community. The no‐interest loans are crowdfunded by hundreds of lenders around the world who lend as little as $25 each. Many lenders become customers, vocal supporters and trusted advisors of the businesses they support on Kiva.
Loan amounts:  Up to $10,000 for the first Kiva; subsequent loans can be larger.
Down payment:  None
Eligible projects: Any business purpose – include working capital, inventory, and equipment.
Eligible businesses: All borrowers must be endorsed by a trustee (like Dakota Business Lending), who can vouch for their character and business. Borrowers must be over 18 years old, have a PayPal account and not currently be in foreclosure or bankruptcy. Annual income must be less than $100,000 with debt to income ratio of less than 35%.
Collateral and security: None
Terms: Up to 36 months
Rate:  0%