States › North Dakota › FY2023
FY20231 Oct 2022 – 30 Sep 2023
SBA loans in North Dakota, FY2023
That fiscal year's approvals by lender and by county.
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 FY2023 (1 October 2022 to 30 September 2023) SBA approved 138 loans in North Dakota: 89 under 7(a) and 49 under 504, worth $73.2M.
That is down 27% on FY2022, when there were 190 approvals worth $99.4M.
North Dakota accounted for 0.2% of the 63,286 approvals nationwide that year. 36 lenders had at least one approval in the state; Dakota Business Lending had the most, 26.
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.
Approvals by lender
The 36 lenders with the most approvals to North Dakota businesses in FY2023, of 36 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Dakota Business Lending | 504 | 26 | $15.2M | 18.8% | 41 | -15 |
| 2 | Midwest Business Finance Corporation | 504 | 9 | $8.5M | 6.5% | 8 | +1 |
| 3 | Choice Financial Group | 7(a) | 9 | $3.3M | 6.5% | 5 | +4 |
| 4 | Bravera Bank | 7(a) | 9 | $1.0M | 6.5% | 17 | -8 |
| 5 | Lake Agassiz Certified Development Company | 504 | 8 | $9.1M | 5.8% | 11 | -3 |
| 6 | First Western Bank & Trust | 7(a) | 7 | $1.4M | 5.1% | 7 | 0 |
| 7 | Lewis & Clark Certified Development Company | 504 | 6 | $6.2M | 4.3% | 14 | -8 |
| 8 | U.S. Bank, National Association | 7(a) | 6 | $125K | 4.3% | 11 | -5 |
| 9 | Aspire Bank | 7(a) | 5 | $4.8M | 3.6% | 3 | +2 |
| 10 | Alerus Financial, National Association | 7(a) | 4 | $4.1M | 2.9% | 3 | +1 |
| 11 | Town and Country CU | 7(a) | 4 | $875K | 2.9% | 3 | +1 |
| 12 | The Huntington National Bank | 7(a) | 4 | $873K | 2.9% | 2 | +2 |
| 13 | Capital Credit Union | 7(a) | 4 | $518K | 2.9% | 6 | -2 |
| 14 | Starion Bank | 7(a) | 4 | $481K | 2.9% | 9 | -5 |
| 15 | First International Bank and Trust | 7(a) | 3 | $3.0M | 2.2% | 1 | +2 |
| 16 | Old National Bank | 7(a) | 3 | $1.9M | 2.2% | 13 | -10 |
| 17 | Bell Bank | 7(a) | 3 | $699K | 2.2% | 2 | +1 |
| 18 | Cornerstone Bank | 7(a) | 2 | — | 1.4% | 0 | new |
| 19 | Dacotah Bank | 7(a) | 2 | — | 1.4% | 2 | 0 |
| 20 | Dakota Business Lending | 7(a) | 2 | — | 1.4% | 0 | new |
| 21 | Wells Fargo Bank National Association | 7(a) | 2 | — | 1.4% | 1 | +1 |
| 22 | Northeast Bank | 7(a) | 2 | — | 1.4% | 0 | new |
| 23 | Shoreham Bank | 7(a) | 1 | — | 0.7% | 0 | new |
| 24 | GBank | 7(a) | 1 | — | 0.7% | 0 | new |
| 25 | First Western SBLC, LLC | 7(a) | 1 | — | 0.7% | 0 | new |
| 26 | Frandsen Bank and Trust | 7(a) | 1 | — | 0.7% | 0 | new |
| 27 | Equity Bank | 7(a) | 1 | — | 0.7% | 0 | new |
| 28 | Live Oak Banking Company | 7(a) | 1 | — | 0.7% | 1 | 0 |
| 29 | Readycap Lending, LLC | 7(a) | 1 | — | 0.7% | 0 | new |
| 30 | The Bancorp Bank National Association | 7(a) | 1 | — | 0.7% | 0 | new |
| 31 | Border Bank | 7(a) | 1 | — | 0.7% | 2 | -1 |
| 32 | Commercial Bank of Mott | 7(a) | 1 | — | 0.7% | 0 | new |
| 33 | First State Bank & Trust | 7(a) | 1 | — | 0.7% | 1 | 0 |
| 34 | Celtic Bank Corporation | 7(a) | 1 | — | 0.7% | 1 | 0 |
| 35 | First State Bank | 7(a) | 1 | — | 0.7% | 0 | new |
| 36 | First Community CU | 7(a) | 1 | — | 0.7% | 1 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2022 | Change |
|---|---|---|---|---|---|---|
| 1 | Cass County | 67 | $30.7M | 48.6% | 101 | -34 |
| 2 | Burleigh County | 15 | $7.6M | 10.9% | 23 | -8 |
| 3 | Grand Forks County | 11 | $9.4M | 8.0% | 9 | +2 |
| 4 | Ward County | 11 | $3.8M | 8.0% | 7 | +4 |
| 5 | Williams County | 6 | $4.7M | 4.3% | 13 | -7 |
| 6 | Morton County | 5 | $2.5M | 3.6% | 7 | -2 |
| 7 | Stark County | 5 | $1.0M | 3.6% | 7 | -2 |
| 8 | Ramsey County | 2 | — | 1.4% | 0 | new |
| 9 | McKenzie County | 2 | — | 1.4% | 3 | -1 |
| 10 | Oliver County | 2 | — | 1.4% | 0 | new |
| 11 | Barnes County | 2 | — | 1.4% | 2 | 0 |
| 12 | Kidder County | 2 | — | 1.4% | 0 | new |
| 13 | Ransom County | 1 | — | 0.7% | 1 | 0 |
| 14 | Griggs County | 1 | — | 0.7% | 0 | new |
| 15 | Steele County | 1 | — | 0.7% | 1 | 0 |
| 16 | Dickey County | 1 | — | 0.7% | 0 | new |
| 17 | Divide County | 1 | — | 0.7% | 0 | new |
| 18 | Sargent County | 1 | — | 0.7% | 0 | new |
| 19 | Mountrail County | 1 | — | 0.7% | 0 | new |
| 20 | Hettinger County | 1 | — | 0.7% | 0 | new |
FY2023 against FY2022
| North Dakota | FY2023 | FY2022 |
|---|---|---|
| 7(a) approvals | 89 | 115 |
| 7(a) dollars | $34.3M | $43.9M |
| Median 7(a) approval | $205K | $164K |
| 504 approvals | 49 | 75 |
| 504 dollars | $38.9M | $55.5M |
| Jobs supported, as reported | 1,582 | 1,751 |
Questions and answers
Which lenders made the most SBA loans in North Dakota in FY2023?
Dakota Business Lending (26), Midwest Business Finance Corporation (9), Choice Financial Group (9), Bravera Bank (9), Lake Agassiz Certified Development Company (8). 36 lenders had at least one approval.
How many SBA loans were approved in North Dakota in FY2023?
138: 89 under 7(a) worth $34.3M and 49 under 504 worth $38.9M.
Which North Dakota counties had the most SBA approvals in FY2023?
Cass County (67), Burleigh County (15), Grand Forks County (11), Ward County (11), Williams County (6).
When does FY2023 start and end?
The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.
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