Top North Dakota SBA Lenders | SBA Loans in ND

Last annual update: May 8, 2024

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A number of  North Dakota-based banks were among the largest lenders to “The Peace Garden State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in North Dakota:

Top SBA lenders in North Dakota

RankBankBank HQs# of LoansAvg Interest Avg Loan
1VISIONBankFARGO, ND99.6% $113,922
2Choice Financial GroupFARGO, ND89.3% $411,000
3U.S. BankCINCINNATI, OH610.1% $10,033
4Northeast BankLEWISTON, ME511.3% $137,300
5First Western Bank & TrustMINOT, ND58.3% $203,800
6United Midwest Savings BankDE GRAFF, OH411.3% $135,000
7BayFirst National BankSaint Petersburg, FL413.3% $138,400
8Capital CUBISMARCK, ND38.8% $157,333
9Aspire BankFARGO, ND39.7% $166,667
10Huntington BankCOLUMBUS, OH310.9% $235,667
11Starion BankBISMARCK, ND38.2% $76,867

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Top industries receiving SBA loans in North Dakota

RankIndustry (NAICS Description)# of LoansAvg Interest Avg Loan
1Landscaping Services79.7% $90,457
2Fitness and Recreational Sports Centers49.6% $274,750
3Residential Remodelers410.8% $122,500
4Beauty Salons38.7% $71,667

SBA loans – North Dakota

A note about these North Dakota SBA lenders – People frequently ask us if one of the banks above is 1) on the North Dakota preferred lender list 2) an approved lender in North Dakota, or 3) participating in the North Dakota SBA Express lending program. All these questions revolve around whether a given SBA bank makes small business SBA loans in North Dakota and can they process SBA loans quickly. The answer is yes, of course. These are not the small banks that only make a few SBA loans a year and do not understand the SBA 7(a) loan program. These are the banks that have made the most SBA loans in North Dakota. We analyze thousands of SBA loans each year and rank lenders based on recent activity. We would be remiss if we did not mention that although many banks will only lend in certain geographies, there are a handful of extremely aggressive nationwide SBA lenders who will lend anywhere. These lenders understand the SBA program as well as anyone and move very quickly, so we recommend not limiting your search to your home state. If you utilize our lender match tool, we can find you suitable SBA banks based on your geography, industry, and company and size at no cost or obligation to you to save you valuable time.

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