Program areas at Dakota Business Lending
Sba 504 program, 43 loans funded in 2023, 1,201 funded program to date. Dakota Business Lending is the number 1 sba 504 lender in the state of north Dakota. The sba 504 program provides long-term, fixed rate financing to america's small businesses. The purpose of the 504 loan program is to create and retain jobs by providing a stable, quality source of capital to small businesses which often times have difficulty qualifying for traditional financing.
Intermediary relending program 2&3, 0 loans funded in 2023, 66 loans funded to date. Borrowers in rural communities (population under 50,000) may benefit from a fixed-rate, 5-15-year loan up to $250,000 to finance a new or existing Business, purchase equipment or real estate or use as working capital. Health-related irp loans are also available, as Dakota Business Lending has established a partnership with areas lenders and small businesses as well as the u.s. department of agriculture to offer the intermediary relending program (irp).
Intermediary Lending program, 2 loans funded in 2023, these fixed-rate, 5-15 year term loans up to $200,000 are intended for small businesses who may not be able to obtain conventional funding, or who need gap financing for a conventional loan. Ilp loans may be used for working capital, equipment, and inventory or real estate.
Other program services include intermediary relending program 1, intermediary relending program 4 the microloan Lending program, the rural Business enterprises program, the main street loan program, 10k sb rural initative and the community advantage loan program.