News

From company updates to important industry announcements, stay up to date on the latest Dakota Business Lending news.

Dakota Business Lending Welcomes Anjie Martins

Dakota Business Lending is pleased to welcome Anjie Martins to the team as a Credit and Assistant Loan Officer in Montana, working to develop and foster relationships with lenders, small businesses, and economic professionals, promote loan programs, assemble loan information, and assist in the preparation, underwriting, and submission of loan packages. Overall, she will support…
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Gehrtz Elected to Board

Dakota Business Lending is pleased to welcome Steve Gehrtz to their Board of Directors. Gehrtz was elected at the board meeting on August 5, 2020 and will attend his first meeting as an official director on September 2, 2020. Gehrtz currently serves as the President of Gehrtz Construction Services, where he helps develop, design, and…
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Hopfauf Elected to Board

Dakota Business Lending is pleased to welcome Jason Hopfauf to their Board of Directors. Hopfauf elected at the board meeting on March 4, 2020 and attended his first meeting as an official director on April 1, 2020. Hopfauf serves as President of two Dakota Community Bank & Trust branches in the Dickinson market, where he…
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RECENT UPDATES Regarding the 2020 CARES Act

Below are a few updates regarding the “Coronavirus Aid, Relief, & Economic Security”(CARES) Act Key Components of the Act pertaining to funding & financing of businesses include: UPDATED: Debt Relief for SBA borrowers. On Friday, Congress passed & Trump signed the CARES Act which has numerous provisions for helping businesses through this challenging time. One of…
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Important Information Regarding the 2020 CARES Act

On Friday, March 27, Congress passed & Trump signed the historic $2 Trillion economic stimulus package called the “Coronavirus Aid, Relief, and Economic Security (CARES)” Act, which has numerous provisions for helping businesses impacted by the COVID-19 pandemic. We would like to share some preliminary information and a summary of the Act to help keep your…
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SBA Disaster Loans Available to Businesses Impacted by COVID-19 by Friday

As many of you are aware, Dakota Business Lending is a non-profit Certified Development Company authorized by SBA, serving businesses and banks throughout North Dakota, Montana, and western Minnesota by offering SBA 504 loans. The SBA Economic Injury Disaster Loan provides up to $2 million in assistance to help overcome the temporary loss of revenues…
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Financial Solutions Available to Small Businesses Impacted by Weather-Related Disasters

The U.S. Small Business Administration (SBA) has recently announced that they will be offering Economic Injury Disaster Loans for small businesses. This program will be available to small non-farm businesses in North Dakota, South Dakota, and Montana who have been negatively affected by weather related incidences such as excessive rain, snow, or flooding. Established as…
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Dakota Business Lending Now Serving Entire State of Montana

In 2019, Dakota Business Lending began offering their services to small businesses in rural Montana under the SBA 504 Loan Program Rural Initiative Pilot Program (504 Rural Pilot). Since then, the feedback they have received from this program indicated a significant need and opportunity to open up their services to all small business throughout the…
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Dakota Business Lending Welcomes McQuade

Dakota Business Lending is pleased to welcome Paige McQuade to the team as a Credit and Underwriting Specialist, working to ensure compliance with Agency rules and regulations, develop and complete new credit requests, and monitor and review all loans within our Corporate risk rate model. Overall, she will assist our team in maintaining their reputation…
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Kautzman and Holmstrom Elected to Board

Dakota Business Lending is pleased to welcome two new members to their Board of Directors, Kim Kautzman and Tonya Holmstron. Kautzman and Holmstrom were elected at the board meeting on June 5, 2019 and attended their first meeting as official directors on July 10, 2019. Kautzman is a business banker at Bank of North Dakota,…
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Increased Appraisal Threshold for SBA 504 Loans

Nearly one year after the FDIC, the OCC, and the Fed published a joint Final Rule increasing the Threshold from $250,000 to $500,000 for appraisals on financed commercial real estate transactions, the SBA provided notice changing this requirement in the SBA 504 and 7a loan programs as well. What that means for our borrowers and…
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New and Enhanced 504 Calculator Now Available

Dakota Business Lending is excited to launch a new and enhanced 504 loan calculator on our website. This online calculator allows users to get financing structure options for 10, 20, and 25-year SBA 504 loans, explore various loans options, and make comparisons. The enhanced widget can be customized to any project by inputting the project…
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Dakota Business Lending Remains ND’s Top SBA Lender for 9th Consecutive Year

In December, the U.S. Small Business Administration (SBA) North Dakota District Office recognized Dakota Business Lending as North Dakota’s #1 SBA Lender for 2018. This award recognizes lenders throughout the state for their participation with the SBA in providing financing for start-up and existing small businesses in their area. Visiting the Dakota Business Lending headquarters…
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Congress Passes Appraisal Threshold Bill

Before Christmas, House Bill H.R. 6348 was passed by the Senate with bipartisan, unanimous support to increase the loan amount above which an appraisal is required on commercial real estate. The bill amends the Small business ACE Act and ties the amount to the federal banking regulator appraisal threshold which is $500,000. When the bill…
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Rural 504 Pilot Program Allows Dakota Business Lending to Enter Montana Market

Startup and existing businesses often have various financial needs that traditional financing cannot meet, making Small Business Administration (SBA) financing a viable option towards making that project possible. However, market research shows that rural communities throughout the United States, specifically the state of Montana, are often underserved regarding SBA 504 loan delivery to small businesses,…
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Dakota Business Lending Welcomes Lingen

Dakota Business Lending is pleased to welcome Teri Lingen to the team as a Credit and Compliance Specialist, working to ensure compliance with Agency rules and regulations, develop and complete new credit requests, and monitor and review all loans within our Corporate risk rate model. Overall, she will assist our team in maintaining their reputation…
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Dakota Business Lending Welcomes Braathen

Dakota Business Lending is pleased to welcome Preston Braathen to the team as Commercial Loan Officer. He will be in the forefront of lending operations for the Fargo/Moorhead region and beyond, working to develop and foster relationships with lenders, small businesses, economic development professionals, and other partners. After living in Fargo, ND for the first…
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SBA Announces Fee Reduction

The SBA has announced a significant fee reduction and adjustment to the 504 program fees on all SBA-504 approvals starting October 1st. The fee cuts will save the average SBA-504 borrower $118 monthly or slightly less than $13,000 over the life of the loan. While it may appear strange the way SBA is doing it (raising one…
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What’s In A Name?

On January 1, 2018, we changed our name to Dakota Business Lending. Since then, we have strengthened more partnerships, helped more businesses, and continued to grow in our mission to help small businesses in the state of North Dakota achieve their dreams. While we’re still a Certified Development Corporation (CDC), one of the reasons why…
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SBA Announces Major Changes Expanding the SBA 504 Debt Refinance Program Rules

The SBA has announced major changes expanding the ability for businesses to refinance using the SBA-504 program effective on application received starting June 4, 2018. The changes are intended to allow more businesses who are facing balloons or rate adjustments to take advantage of the SBA-504’s current low fixed interest rates. Perhaps the best rule…
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Dakota Business Lending Hosts Open House Event

 Dakota Business Lending was proud to host an open house event at their new headquarters office in South Fargo last week. The event brought together more than 60 lenders, partners, borrowers, Board of Directors, members of the U.S. Small Business Administration, and others from throughout the community and beyond to celebrate the organization’s recent name…
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Dakota Business Lending Promotes 2

Dakota Business Lending announces the promotion of two members of their team. Tamara VanWechel has been promoted to Senior Credit & Portfolio Officer.  VanWechel joined the company in 2016 and has a background in credit.  Her new responsibilities include compliance, managing credit flow & analysis, management of the loan portfolio and leading the loan specialist…
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SBA Announces 25 Year Option for SBA 504 Program

Have you ever heard of a 25-year, fixed interest rate on commercial real estate? Well it’s for real! The SBA just announced the 25-year option is now available under the SBA 504 program for loans approved going forward. This is in addition to the 10- and 20-year loans that are currently available. The interest rate is expected…
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Dakota Business Lending Welcomes Anderson

Dakota Business Lending is pleased to welcome Katie Anderson to the team as Loan Closing Specialist. She will be responsible for closing and funding all loan programs and ensuring loans are closed in compliance with SBA, USDA, Rural Development, and all other program rules and regulations. A native of Moorhead, MN, Erin graduated from Minnesota…
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Dakota CDC is now Dakota Business Lending

Dakota CDC is now Dakota Business Lending We are excited to announce that Dakota Certified Development Corporation (Dakota CDC) is now Dakota Business Lending effective January 1, 2018. Along with the name change, we have also moved to a beautiful, new Fargo location. Dakota Certified Development Corporation (Dakota CDC, DCDC)4133 30th Ave South, Suite 100Fargo,…
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