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
With North Dakota Opportunity Fund financing, Bud’s R&R will soon open its doors
Dustin Buth had been in the cleaning and restoration business in Williston for 16 years. While the work was satisfying, he...
SBA 504 Loan helped transform prairie land into unique wedding and events venue
Right off Highway 52, four miles west of Minot, sits a picturesque hillside surrounded by trees. For those who appreciate...
CARES Act Revolving Loan Fund helps Gratitude Spa & Salon open its doors
One of Bismarck's newest small businesses, Gratitude Spa & Salon, opened its doors in early May. Located across from...