ND Small Business Lending: The SBA 504 Program & More
SBA 504 Program
The SBA 504 Loan provides businesses with fixed-rate financing for the purchase of long-term assets. Proceeds can be used for the purchase of land, building, and equipment as well as to finance eligible closing costs. The 504 loan is made in conjunction with the borrowers’ local financial institution, which provides a first mortgage for up to 50% of the project cost.
For more information on getting a small business loan in ND, contact Ashley Hruby at 701.667.7607 or at ashley@lcdgroup.org.
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SBA 504 10 Year Rate
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SBA 504 20 Year Rate
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SBA 504 25 Year Rate
North Dakota Opportunity Fund
The North Dakota Opportunity Fund leverages private financing to help small businesses and manufacturers attain the loans and investments need to expand and create jobs. A consortium of 38 municipalities across North Dakota has received funding for operating the loan participation program.
North Dakota Opportunity Fund Communities
For more information on the North Dakota Opportunity Fund contact Matt Burthold at 701.667.7601 or at matt@lcdgroup.org.
Regional Loan Programs
The Lewis & Clark Regional Development Council has a variety of loan programs to fit the needs of businesses in a ten-county region. Businesses located in Burleigh, Emmons, Grant, Kidder, McLean, Mercer, Morton, Oliver, Sheridan, and Sioux counties are eligible for a variety of loan programs.
For more information on the Regional Loan Programs Fund, contact Matt Burthold at 701.667.7601 or at matt@lcdgroup.org.
LCD Group Success Stories
Mostly recovered from pandemic’s economic fallout, communities now confronting new challenges
Rural communities have largely recovered from the initial shock of the COVID-19 pandemic but find themselves struggling in...
“This is a ripple effect project”
A collaborative effort, partly financed by the North Dakota Opportunity Fund, has provided a new home for a long-time...
LCD Group has processed more than $4.2 million in SBA 504 loans so far this year
When he looks back on the last four months, Derrick Becker says: "It's been kind of a blur." As Lewis & Clark...