State lending data
SBA lending in North Dakota
370 SBA 7(a) loans went to businesses in North Dakota recently, at a median of $166,900. The lenders that made them, what they charged, and how the state is trending.
370 SBA 7(a) loans went to businesses in North Dakota in the most recent fiscal years, at a median of $166,900. The most active lender in the state was U.S. Bank, with 35 loans. Approvals are down 20.3% on the year.
SBA lending in North Dakota, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in North Dakota, not advertised ranges.
| Measure | North Dakota | National |
|---|---|---|
| Loans approved | 370 | 214,102 |
| Total approved | $195.0 million | $104.1 billion |
| Median loan | $166,900 | $150,000 |
| 25th – 75th percentile | $60,000 – $499,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.00% | 10.25% |
| Share to startups | 40.0% | 33.6% |
| Charge-off rate, FY2010–19 | 3.8% | 7.1% |
| Jobs supported | 4,193 | 2,142,602 |
| Counties with recorded lending | 29 | — |
| Lenders active in the state | 68 | — |
Is SBA lending in North Dakota growing or shrinking?
Shrinking, along with almost every other state. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in North Dakota went from 74 to 59 loans, down 20.3% — while the dollars approved went from $54.9 million to $38.0 million, down 30.7%. The average approval fell from $741,659 to $644,786, so the change is weighted toward smaller loans.
That puts North Dakota mid-table — 31st of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in North Dakota | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 84 | 51,747 | 0.2% |
| FY2024 | 114 | 62,618 | 0.2% |
| FY2025 | 109 | 64,096 | 0.2% |
| FY2026 (part year) | 63 | 35,641 | 0.2% |
Which lenders actually fund businesses in North Dakota
Ranked by loans approved inside North Dakota. The median, startup share and rate columns describe each lender's own North Dakota loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| U.S. Bank | 35 | $30,000 | 49% | 10.49% |
| Town and Country CU | 29 | $150,000 | 52% | 7.75% |
| Bravera Bank | 28 | $55,000 | 43% | 9.50% |
| Choice Financial Group | 21 | $350,000 | 57% | 9.00% |
| Old National Bank | 17 | $550,400 | 41% | 8.50% |
| First Western Bank & Trust | 16 | $207,500 | 50% | 8.00% |
| Alerus Financial | 15 | $994,000 | 7% | 8.25% |
| Bell Bank | 15 | $200,000 | 47% | 9.50% |
What stands out about North Dakota
Reading the state's own figures against the national picture:
- Loan sizes are typical. The median of $166,900 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- New businesses do well here. 40.0% of these loans went to startups or businesses no more than two years old, against 33.6% nationally — an unusually open market if you have no trading history.
- Rates run lower here. The median initial rate of 9.00% is 1.25 points below the 10.25% national median. Most 7(a) lending is variable-rate, so treat this as a comparison between markets, not a quote.
- Past loss rates here are below average. The FY2010–2019 charge-off rate for this market was 3.8%, against 7.1% overall. That is a record of an older cohort, not a forecast.
Who borrows in North Dakota
The industry mix of SBA borrowers here, led by restaurants and hotels.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Restaurants and Hotels | 57 | 15.4% | $350,000 | 49% |
| Retail | 48 | 13.0% | $201,700 | 38% |
| Construction | 47 | 12.7% | $100,000 | 28% |
| Personal Services | 39 | 10.5% | $213,500 | 46% |
| Healthcare | 31 | 8.4% | $121,400 | 42% |
| Professional Services | 27 | 7.3% | $200,000 | 22% |
| Admin Services | 26 | 7.0% | $145,150 | 38% |
Where the money goes in North Dakota
SBA lending is more concentrated than state totals suggest, and Cass County alone accounts for 47% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Cass County | 175 | $200,000 | $68.4 million |
| Burleigh County | 35 | $300,000 | $30.3 million |
| Ward County | 35 | $150,000 | $17.5 million |
| Grand Forks County | 27 | $499,000 | $25.5 million |
SBA 504 in North Dakota
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | North Dakota 504 | National 504 |
|---|---|---|
| Projects approved | 180 | 22,192 |
| Median CDC share | $521,500 | $730,000 |
| Median total project | $1,175,151 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in North Dakota
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in North Dakota is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: District of Columbia, Alaska, South Dakota, Wyoming, Vermont, Hawaii, California, Florida
Questions people actually ask
How many SBA loans are approved in North Dakota each year?
370 SBA 7(a) loans were approved to businesses in North Dakota across fiscal years 2023 to 2026, using data released June 2026, worth $195.0 million in total. Over the most recent comparable months the number of approvals ran down 20.3% year on year, while the dollars approved ran down 30.7%.
Which bank approves the most SBA loans in North Dakota?
U.S. Bank, with 35 loans approved to businesses in the state and a median loan of $30,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in North Dakota?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.