Lenders › Dakota Business Lending
504 CDCFargo, North Dakotacertified development company36th of 182 by approvals
Dakota Business Lending
SBA 504 loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
In FY2021 to FY2025 SBA approved 266 504 loans, worth $198M, through Dakota Business Lending of Fargo, North Dakota, a certified development company (CDC) that makes SBA 504 loans. By number of approvals that is 36th among 182 active CDCs.
In FY2025, the latest complete fiscal year, it had 48 approvals totalling $42.4M, about level with FY2024 (45). FY2026 to 30 Jun 2026 adds 29 more.
The median approval was $458K, against $657K for the 504 program as a whole; 10.9% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 4 states and territories and 58 counties, led by North Dakota (63.9%), Montana (23.7%) and Minnesota (12.0%). The largest industry group was other services (except public administration) at 13.9% of approvals, and 8.6% of approvals were to franchise businesses.
Of 442 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (1.6%), 192 as paid in full and 243 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 29 | $21.4M | $362K | $737K | 240 |
| FY2025 | 48 | $42.4M | $513K | $884K | 269 |
| FY2024 | 45 | $28.1M | $373K | $626K | 218 |
| FY2023 | 39 | $29.2M | $534K | $748K | 333 |
| FY2022 | 66 | $49.0M | $428K | $743K | 452 |
| FY2021 | 68 | $49.6M | $479K | $729K | 418 |
| FY2020 | 50 | $24.4M | $287K | $489K | 350 |
| FY2019 | 39 | $25.6M | $375K | $655K | 347 |
| FY2018 | 34 | $15.1M | $265K | $444K | 384 |
| FY2017 | 27 | $19.2M | $306K | $713K | 380 |
| FY2016 | 27 | $14.7M | $401K | $544K | 273 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 177 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | North Dakota | 504 program |
|---|---|---|---|
| Approvals in these years | 491 | 659 | 85,591 |
| Cancelled or never disbursed | 49 | 73 | 12,514 |
| Disbursed loans | 442 | 586 | 73,077 |
| Paid in full | 192 | 243 | 35,491 |
| Charged off | 7 | 13 | 905 |
| Still outstanding (status exempt from disclosure) | 243 | 330 | 36,681 |
| Charged off, share of disbursed loans | 1.6% | 2.2% | 1.2% |
| Dollars charged off, share of disbursed dollars | 2.5% | 2.7% | 0.9% |
| Dollars charged off | $7.0M | $10.7M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 60 | 6 | 0 | 0.0% | 0.1% |
| FY2020 | 46 | 9 | 1 | 2.2% | 0.1% |
| FY2019 | 39 | 12 | 0 | 0.0% | 0.3% |
| FY2018 | 34 | 8 | 0 | 0.0% | 0.4% |
| FY2017 | 22 | 5 | 0 | — | 0.8% |
| FY2016 | 27 | 10 | 0 | — | 1.0% |
| FY2015 | 25 | 14 | 1 | — | 1.2% |
| FY2014 | 19 | 14 | 1 | — | 1.3% |
| FY2013 | 40 | 22 | 0 | 0.0% | 1.4% |
| FY2012 | 44 | 26 | 4 | 9.1% | 2.0% |
| FY2011 | 48 | 35 | 0 | 0.0% | 2.1% |
| FY2010 | 38 | 31 | 0 | 0.0% | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $458K | $657K |
| Average approval | $746K | $1.0M |
| Approvals of $150,000 or less | 10.9% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 25.9% | 14.4% |
| Approvals to franchise businesses | 8.6% | 9.0% |
| Jobs supported per approval, as reported | 6.4 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 1.6% | 1.2% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | North Dakota | 170 | $120M | 63.9% | |
| 2 | Montana | 63 | $50.5M | 23.7% | |
| 3 | Minnesota | 32 | $27.6M | 12.0% | |
| 4 | South Dakota | 1 | — | 0.4% |
In North Dakota the lender accounts for 52.3% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (58 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Cass County, ND | 60 | $55.9M | 22.6% | |
| 2 | Burleigh County, ND | 26 | $23.9M | 9.8% | |
| 3 | Gallatin County, MT | 25 | $22.9M | 9.4% | |
| 4 | Ward County, ND | 22 | $9.2M | 8.3% | |
| 5 | Stark County, ND | 13 | $5.0M | 4.9% | |
| 6 | Williams County, ND | 12 | $5.7M | 4.5% | |
| 7 | Yellowstone County, MT | 11 | $10.9M | 4.1% | |
| 8 | Clay County, MN | 10 | $9.0M | 3.8% | |
| 9 | Otter Tail County, MN | 7 | $6.1M | 2.6% | |
| 10 | Morton County, ND | 5 | $3.4M | 1.9% | |
| 11 | Grand Forks County, ND | 4 | $3.6M | 1.5% | |
| 12 | Fergus County, MT | 4 | $893K | 1.5% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 37 | 13.9% | |
| 2 | Retail Trade | 36 | 13.5% | |
| 3 | Accommodation and Food Services | 34 | 12.8% | |
| 4 | Health Care and Social Assistance | 30 | 11.3% | |
| 5 | Construction | 30 | 11.3% | |
| 6 | Manufacturing | 26 | 9.8% | |
| 7 | Professional, Scientific, and Technical Services | 18 | 6.8% | |
| 8 | Wholesale Trade | 9 | 3.4% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 23 | 8.6% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 23 | 8.6% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 15 | 5.6% | |
| 4 | Other Personal ServicesNAICS 8129 | 9 | 3.4% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 8 | 3.0% | |
| 6 | Offices of DentistsNAICS 6212 | 7 | 2.6% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 7 | 2.6% | |
| 8 | Lessors of Real EstateNAICS 5311 | 6 | 2.3% | |
| 9 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 6 | 2.3% | |
| 10 | Traveler AccommodationNAICS 7211 | 5 | 1.9% |
Approval sizes
- $50,000 or less0.4%1
- $50,001 to $150,00010.5%28
- $150,001 to $350,00029.3%78
- $350,001 to $1 million39.5%105
- $1 million to $2 million14.3%38
- Over $2 million6.0%16
Loan terms
- Over 5 to 10 years2.3%6
- Over 10 to 20 years21.8%58
- Over 20 years75.9%202
Age of the businesses
- Existing, more than 2 years old72.9%194
- New business, 2 years or less1.5%4
- Startup, loan funds will open the business24.4%65
- Change of ownership1.1%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 231 | 86.8% | |
| 2 | 504 Basic | 18 | 6.8% | |
| 3 | 504 Refinancing Program | 12 | 4.5% | |
| 4 | ALP Express | 5 | 1.9% |
Franchise share
23 of 266 approvals in FY2021–FY2025 (8.6%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | DQ Grill & Chill Operating Agreement | 2 | 0.8% | |
| 2 | Anytime Fitness | 2 | 0.8% | |
| 3 | Vision Source | 2 | 0.8% | |
| 4 | Big O Tires | 2 | 0.8% | |
| 5 | Budget Blinds | 2 | 0.8% | |
| 6 | Honda Automobile Division | 1 | 0.4% | |
| 7 | La Quinta by Wyndham | 1 | 0.4% | |
| 8 | Cobblestone Inn & Suites | 1 | 0.4% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | First International Bank and Trust | 24 | 9.0% | |
| 2 | Cornerstone Bank | 23 | 8.6% | |
| 3 | Dakota Community Bank & Trust, National Association | 16 | 6.0% | |
| 4 | BNC National Bank | 15 | 5.6% | |
| 5 | Stockman Bank of Montana | 15 | 5.6% | |
| 6 | Opportunity Bank of Montana | 12 | 4.5% | |
| 7 | Gate City Bank | 9 | 3.4% | |
| 8 | Glacier Bank | 8 | 3.0% | |
| 9 | Western State Bank | 7 | 2.6% | |
| 10 | Bravera Bank | 6 | 2.3% |
Questions and answers
How many SBA loans does Dakota Business Lending make?
SBA approved 48 504 loans through Dakota Business Lending in FY2025, worth $42.4M, and 266 over FY2021 to FY2025. That ranks 36th of 182 active CDCs by number of approvals.
How large are Dakota Business Lending's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $458K and the average $746K. The program-wide median was $657K.
What is Dakota Business Lending's charge-off rate?
Of 442 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (1.6%), 192 as paid in full and 243 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Dakota Business Lending lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (23); automotive repair and maintenance (23); offices of other health practitioners (15); other personal services (9).
Where does Dakota Business Lending make SBA loans?
In 4 states and territories. North Dakota 170, Montana 63, Minnesota 32, South Dakota 1. In North Dakota it accounts for 52.3% of all 504 approvals.
Is Dakota Business Lending's SBA lending rising?
Approvals in the three latest complete fiscal years total 132, against 184 in the three before: falling (-28%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error