North Dakota Lenders Recognized for Small Business Loans

Release Date: 
Thursday, October 26, 2017
Release Number: 
ND-17-11
Contact: 
Sheri.Weston@sba.gov

Fargo, ND – Alan Haut, district director for the North Dakota District Office of the U.S. Small Business Administration (SBA) announced today that seven North Dakota lenders have been selected for the 2017 District Director’s Award. Each year, top SBA lenders in North Dakota are recognized for their participation with SBA in providing financing for start-up and existing small businesses. Receiving the award are Choice Financial Group; VISONBank; Bremer Bank, N.A.; Capital Credit Union; Wells Fargo Bank, N.A.; BlackRidgeBANK; and Dakota Certified Development Company.

“SBA is proud of our relationship with North Dakota lenders giving us the ability to serve many small businesses throughout the State,” says Haut. “In Fiscal Year 2017, SBA provided financing through 39 different lenders in 43 different communities in North Dakota.”

$57.8 million and 231 loans were approved in North Dakota in Fiscal Year 2017, ending September 30, 2017. This amount includes $36.1 million and 193 loans under the agency’s largest loan program, the 7(a) General Business Loan Program, which can be used for a variety of general business purposes. $21.7 million and 38 loans were approved under the 504 Certified Development Company Loan Program, which is used to finance fixed assets such as real estate and improvements or heavy machinery and equipment.

SBA provides financing to for-profit small businesses by offering guarantees to lenders, reducing the risk to lenders and increasing the availability of financing for small businesses. In addition to guaranteed loans and disaster assistance, SBA provides counseling and training opportunities through a network of resource providers including SCORE, the Small Business Development Center (SBDC), and the Women’s Business Center. Through SBA staff and resource partners, assistance is provided in all aspects of managing and starting a small business.

For additional information on SBA programs and services, visit our website at www.sba.gov/nd, contact us at north.dakota@sba.gov, or in Fargo at 701-239-5131, or in Grand Forks at 701-746-5160, and follow us on Twitter @SBA_NorthDakota.

 

VISIONBank Award Photo 11-22-2017 from left, VISIONBank representatives Miranda Muscha, Bill Kuzas, ND SBA District Director Al Haut, Michelle Kappes, Lisa Pavek, and ND SBA Lender Relations Specialist Deb Kantrud; back row, David Ystebo, Blake Trenbeath, Kari Rutten, Theresa Reitan; and in the bottom front Piper and Scout.

Dakota Business Lending Award Photo 01-29-2018 from left, Dakota Business Lending President & CEO Steve Dusek, ND SBA District Director Al Haut.

BlackRidgeBANK Award Photo 01-30-2018 from left, ND SBA District Director Al Haut and Bismarck BlackRidgeBANK President John Jessen

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