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County3rd of 41 in North Dakota by approvalsFIPS 38035
SBA loans in Grand Forks County, North Dakota
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Grand Forks County, North Dakota, received 65 SBA loan approvals worth $45.9M in FY2021 to FY2025 (48 7(a), 17 504).
That is 34.2 approvals per 1,000 business establishments (1,903 establishments in 2023), close to the North Dakota figure of 37.8 and below the national 41.0.
It ranks 3rd of 41 North Dakota counties with approvals. In FY2025 there were 11, up 10% on FY2024.
20 lenders had approvals here; the most active were Old National Bank (10), Lake Agassiz Certified Development Company (9) and Frandsen Bank and Trust (6). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Grand Forks County
By number of approvals to businesses in the county, FY2021–FY2025; 20 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Old National BankEvansville, IN | 10 | $7.4M | 15.4% | |
| 2 | Lake Agassiz Certified Development CompanyFargo, ND · CDC | 9 | $5.5M | 13.8% | |
| 3 | Frandsen Bank and TrustArden Hills, MN | 6 | $4.2M | 9.2% | |
| 4 | Bank ForwardFargo, ND | 6 | $2.5M | 9.2% | |
| 5 | Alerus Financial, National AssociationGrand Forks, ND | 5 | $12.7M | 7.7% | |
| 6 | Dakota Business LendingFargo, ND · CDC | 4 | $3.6M | 6.2% | |
| 7 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 4 | $1.1M | 6.2% | |
| 8 | First International Bank and TrustWatford City, ND | 2 | — | 3.1% | |
| 9 | Wallis BankWallis, TX | 2 | — | 3.1% | |
| 10 | First Western Bank & TrustMinot, ND | 2 | — | 3.1% | |
| 11 | First State BankBuxton, ND | 2 | — | 3.1% | |
| 12 | Choice Financial GroupFargo, ND | 2 | — | 3.1% | |
| 13 | U.S. Bank, National AssociationCincinnati, OH | 2 | — | 3.1% | |
| 14 | Northeast BankLewiston, ME | 2 | — | 3.1% | |
| 15 | Wells Fargo Bank National AssociationSioux Falls, SD | 2 | — | 3.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 6 | 9.2% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 4.6% | |
| 3 | Sporting Goods, Hobby, and Musical Instrument RetailersNAICS 4591 | 3 | 4.6% | |
| 4 | Offices of PhysiciansNAICS 6211 | 3 | 4.6% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 4.6% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 3 | 4.6% | |
| 7 | Residential Building ConstructionNAICS 2361 | 3 | 4.6% | |
| 8 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 2 | 3.1% | |
| 9 | Lumber and Other Construction Materials Merchant WholesalersNAICS 4233 | 2 | 3.1% | |
| 10 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 2 | 3.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 12 | 18.5% | |
| 2 | Retail Trade | 11 | 16.9% | |
| 3 | Other Services (except Public Administration) | 9 | 13.8% | |
| 4 | Accommodation and Food Services | 9 | 13.8% | |
| 5 | Wholesale Trade | 5 | 7.7% | |
| 6 | Professional, Scientific, and Technical Services | 5 | 7.7% | |
| 7 | Health Care and Social Assistance | 5 | 7.7% | |
| 8 | Manufacturing | 3 | 4.6% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 4 | $1.8M | $241K | 2 | — | 6 | 62 |
| FY2025 | 11 | $12.2M | $713K | 0 | — | 11 | 181 |
| FY2024 | 8 | $4.4M | $299K | 2 | — | 10 | 61 |
| FY2023 | 7 | $8.0M | $895K | 4 | $1.4M | 11 | 113 |
| FY2022 | 8 | $3.1M | $263K | 1 | — | 9 | 77 |
| FY2021 | 14 | $8.0M | $391K | 10 | $7.6M | 24 | 257 |
| FY2020 | 15 | $2.8M | $96K | 5 | $4.2M | 20 | 111 |
| FY2019 | 14 | $7.6M | $362K | 3 | $2.4M | 17 | 122 |
| FY2018 | 14 | $2.7M | $114K | 3 | $1.9M | 17 | 242 |
| FY2017 | 26 | $5.7M | $100K | 4 | $2.8M | 30 | 406 |
| FY2016 | 11 | $893K | $75K | 1 | — | 12 | 87 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 96 approvals.
Against North Dakota and the country
| FY2021–FY2025 | Grand Forks County | North Dakota | United States |
|---|---|---|---|
| Approvals | 65 | 960 | 342,825 |
| Approvals per 1,000 establishments | 34.2 | 37.8 | 41.0 |
| Median 7(a) approval | $455K | $195K | $190K |
| Median 504 approval | $534K | $478K | $657K |
| Average approval | $707K | $568K | $573K |
| 504 share of approvals | 26.2% | 33.9% | 11.0% |
| Jobs supported per approval, as reported | 10.6 | 9.7 | 10.5 |
| Share of state approvals | 6.8% | 100.0% | — |
Approval sizes
- $50,000 or less4.6%3
- $50,001 to $150,00020.0%13
- $150,001 to $350,00021.5%14
- $350,001 to $1 million35.4%23
- $1 million to $2 million12.3%8
- Over $2 million6.2%4
Age of the businesses
- Existing, more than 2 years old61.5%40
- New business, 2 years or less10.8%7
- Startup, loan funds will open the business9.2%6
- Change of ownership18.5%12
Questions and answers
Which lenders make the most SBA loans in Grand Forks County?
By approvals in FY2021 to FY2025: Old National Bank (10), Lake Agassiz Certified Development Company (9), Frandsen Bank and Trust (6), Bank Forward (6), Alerus Financial, National Association (5). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Grand Forks County?
The median 7(a) approval was $455K and the median 504 approval $534K; the North Dakota 7(a) median was $195K.
Which industries get the most SBA loans in Grand Forks County?
Restaurants and Other Eating Places (6); Automotive Repair and Maintenance (3); Sporting Goods, Hobby, and Musical Instrument Retailers (3); Offices of Physicians (3); Other Specialty Trade Contractors (3).
Is SBA lending in Grand Forks County rising?
Approvals in the three latest complete fiscal years total 32, against 53 in the three before: falling (-40%).
How does Grand Forks County compare with the rest of North Dakota?
34.2 approvals per 1,000 establishments against 37.8 statewide, and 65 of the state's 960 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error