SBA 504 Interest Rates | February 2024 | 10 Yr:  6.544%, 20 Yr: 6.496%, 25 Yr: 6.385% *rates may vary Learn More »

In 1982, Dakota Business Lending began serving small businesses in North Dakota through the SBA 504 loan program. They added several other special loan programs throughout the next 40 years and receive a NMTC allocation in 2021, leading them to offer over 10 financing programs and a variety of other non-financing resources for small businesses today.

Meet the ND Team

Meet Steve, Roxi, Emily, and Scott – the driving forces of Dakota Business Lending in North Dakota! With a passion for helping small businesses on their entrepreneurial journey, these four are always going the extra mile to set businesses up for success. Collaboration is their strong suit, and they seek to create partnerships that will help you secure the financing you need to start, expand, and truly make an impact.

Whether your in the beginning stages of planning your startup business or are ready to grow and expand your established business, our ND team is here for you.

Steve Dusek

President/CEO

Roxi Pfliiger

Business Development Officer

Scott Schake

Business Development Officer

Tyler Byron

Business Development Officer

SBA 504 Loan Program in North Dakota

Dakota Business Lending in North Dakota offers the SBA 504 loan program – one of the best kept secrets in the small business financing world today. The program can finance long-term fixed assets and offers benefits such as:

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Up to 90% financing

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10, 20, and 25-year term options

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Fixed, below-market interest rates

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Minimum 10% down payment

SBA 504 Structure Examples

Depending on the type of business and what the loan will be used for, there are several ways that your loan may be structured.

The typical SBA 504 loan is structured in a 50-40-10 model:

  • 50% financed by a third party lender
  • 40% financed by Dakota Business Lending and the SBA
  • 10% financed by the borrower in the form of a down payment

View more loan structure examples here -> 

*Loan structure may vary. Please contact us to learn more & get specific details on your project’s structure.

The SBA 504 Loan Program in Action

The real measure of our success and impact is told in the stories of our borrowers: the entrepreneurs and businesses that dared to turn a dream into a plan into a reality.  Check out how the SBA 504 loan program helped this aircraft repair/maintenace station in West Fargo, ND.

Mid-America Aerotech

  • Mid-America Aerotech, a commercial and military aircraft maintenance/repair station, was approached by VRC Metal Systems, a cold spray company located in SD, with an opportunity.
  • The two businesses decided to form a partnership: VRC Metal Systems would acquire Mid-America Aerotech and, together, they would become the #1 cold spray technology company in the nation.
  • VRC Metal Systems used the SBA 504 loan program to purchase Mid-America Aerotech’s location in West Fargo, ND.
  • Today, Mid-America Aerotech has 15 employees (each averaging 20 years’ experience in related industries), works closely with Senator Hoeven’s office to assist military branches with improving and repairing their aircrafts and other weapon components, and sponsors several military non-profits and charities throughout Fargo and ND.

Other Loan Programs

Since inception, Dakota Business Lending has added several more loan programs. Learn more about these additional programs and the financing opportunities they offer for small business owners.

Borrower Resources

There are a variety of FREE resources and programs available for small businesses throughout North Dakota. Here are a few that we commonly refer our borrowers to for entrepreneurial development resources such as education, training, and technical assistance:

ND Women's Business Center

Assists current & potential women business owners with training, technology, & business development

ND Small Business Development Center

Assists small businesses with business plans and financial projections

SCORE Mentors

Retired business owners volunteer to mentor and counsel small business owners

The Small Business Administration (SBA) website also contains a wealth of information on starting and running a business, including:

Small Business Resource Guide

Download this guide that includes various aspects on starting and operating a business

SBA Learning Center

This portal includes many online training courses on almost every aspect of business ownership

Dakota Business Newsletter

Email dedicated to providing valuable information about starting & growing a small business

Lender Resources

Are you wanting to know more about the SBA 504 loan program and if it’s the right fit for your borrower? Download our resources below to get an overview of the SBA 504 / Debt Refinance programs and their requirements.

Dakota Business Lending Headquarters

Our success is largely attributed to our clients, borrowers, and partners who we serve. That is why, in 2018, we designed a brand new, state-of-the-art headquarter facility that not only taps into creativity, innovation, and collaboration, but one that highlights those who have made this success possible.