A Successful Dakota Business Lending Borrower
May 3, 2021
Joseph Edman was born with an entrepreneurial spirit.
While most of his friends were working part-time jobs growing up, he was starting his own lawn mowing company. Between running his small lawn care business and watching his father work construction, it was only fitting that Joseph would eventually put these two passions together.
Finally, in 2008, Joseph continued his lifelong journey of a small business owner and founded Edman Builders.
“In 2008, I was applying for a lot of different positions and was not finding a ton of opportunity. Given my entrepreneurial mindset, it felt natural for me to start my own company. I felt comfortable pursuing that dream, and I’ve never looked back.”
Joseph originally founded Edman Builders in Granite Falls, MN. A few years after starting the company, he found a new avenue for growth and moved the company to Williston, ND, where he spent a decade working alongside his father, Tom Edman.
Joseph has organically grown Edman Builders, with roots in MN and ND, and has recently opened an office in Colorado. The company is an officially recognized HUBZone certified business (SBA program that focuses on small business success in the federal construction realm).
Edman Builders had been renting a small shop to house their operations since they moved to ND in 2013. Joseph and his team knew the best way to grow the business was to eventually purchase a building to call their own, but they lacked the capital needed to take that next step.
In 2018, Joseph was introduced to Dakota Business Lending. By working in conjunction with Dakota Business Lending and First International Bank & Trust, Edman Builders was able to use the SBA 504 loan program to purchase their shop and have a place to call their own. “Although our company was doing well, we weren’t generating large amounts of cash that would allow us to put 30% down on a construction loan that we needed to buy a building,” Joseph explained. “Dakota Business Lending was able to put together a package that would allow us to purchase our building with an interest rate and down payment we could afford.” Joseph also worked with local SBDC office in Williston to produce the necessary paperwork for the project, received a Star Fund Grant from the City of Williston, and used the Flex PACE program through Bank of North Dakota to buy down the interest rate.
“Up until we found Dakota Business Lending and all the resource partners that came together for us, we had been primarily operating out of field trailers on job sites. The SBA 504 loan program gave us a permanent office, a job space, and a landing pad for our base of operations here in Western North Dakota. It gave our business a home.”
Edman Builder’s building and home has cemented their commitment and involvement in their community – a community that they continue to form relationships with and give back to in any way that they can. For six years Joseph served on Williston Community Builders, a non-profit in Williston that seeks to build new and innovative attractions to enhance the quality of life throughout the community. Through this organization, he has been a part of the construction of a veteran’s memorial monument, hospice center, park and splash pad, community garden, motocross track, and other projects that have helped the community of Williston grow. With this and many other service projects, Joseph has built community reinvestment and stewardship into the foundation of the company.
Joseph looks back on Edman Builder’s past decade and a half with a smile and is grateful for this journey he has taken.
“The freedom and opportunity for growth that Edman Builder’s has given me is really rewarding. We’re only limited by our own ability, so having the opportunity to get up every day and create our own opportunities is exciting. I’m excited to see where this company takes me.”