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North Dakota Lenders Recognized for Small Business Loans

Release Date: 
Thursday, October 10, 2013
Release Number: 
Advisory Number: 
Sheri Weston 701-239-5131

FARGO - Six North Dakota lenders have been selected for the 2013 Director's Award from the U.S. Small Business Administration (SBA) North Dakota District Office. Receiving the award are Dakota Certified Development Corporation, Starion Financial, Alerus Financial, Bremer Bank, VISIONBank, and Wells Fargo Bank.

Each year, SBA's North Dakota District Director recognizes top North Dakota lenders for their participation with SBA in providing financing for start-up and existing small businesses. This past Fiscal Year 2013, ending September 30, 2013, Dakota Certified Development Corporation approved 41 loans and $36.3 million in small business financing under SBA's 504 Loan Program, which is used to finance fixed assets. Starion Financial approved 13 loans and $1.4 million; Alerus Financial approved 11 loans and $1.5 million; Bremer Bank approved 11 loans and $2 million; VISIONBank approved 10 loans and $1.5 million; and Wells Fargo Bank approved 10 loans and $1 million in small business financing under SBA's 7(a) General Business Loan Program.

"We are truly grateful for the commitment these lenders made in providing needed financing to small businesses," offered Michael Gallagher, district director of the SBA's North Dakota District Office. "In Fiscal Year 2013, SBA was able to help small businesses in North Dakota through 210 loans valued at over $95.6 million. These loans were made by 47 different lenders in 44 different communities."

For additional information on SBA programs and services, contact the North Dakota District Office at north.dakota@sba.gov or in Fargo at 701-239-5131, in Bismarck at 701-250-4303, or in Grand Forks at 701-746-5160.

Related State: 
North Dakota