Lending data
Who actually lends to restaurants, bars, and hotels in North Dakota?
57 SBA 7(a) loans went to restaurants, bars, and hotels in North Dakota recently, at a median of $350,000. Here are the lenders that made them, ranked.
57 SBA 7(a) loans went to restaurants, bars, and hotels in North Dakota in the most recent fiscal years. The median was $350,000 over 126 months. The most active lender was Town and Country CU, with 7 loans.
What lending to restaurants, bars, and hotels in North Dakota actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Restaurants, bars, and hotels, North Dakota | All 7(a) borrowers |
|---|---|---|
| Loans approved | 57 | 214,102 |
| Median loan | $350,000 | $150,000 |
| 25th - 75th percentile | $95,000 - $1,893,500 | $50,000 - $500,000 |
| Median term | 126 months | 10 years |
| Median initial rate | 8.50% | 10.25% |
| Share to startups | 49.1% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 2.6% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to restaurants, bars, and hotels in North Dakota. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Town and Country CU | 7 | $100,000 | 71% | 7.75% |
| First Western Bank & Trust | 4 | $302,000 | 50% | 7.50% |
| First Western SBLC, LLC | 4 | $1,002,000 | 0% | 9.62% |
| Bell Bank | 4 | $50,000 | 100% | 9.62% |
| Choice Financial Group | 3 | $350,000 | 67% | 9.95% |
| Readycap Lending, LLC | 3 | $2,995,000 | 100% | 9.50% |
| Shoreham Bank | 2 | $2,182,500 | 50% | 8.00% |
| Old National Bank | 2 | $653,700 | 50% | 8.88% |
| Union State Bank of Hazen | 2 | $70,000 | 100% | 7.62% |
| Dakota Western Bank | 2 | $140,000 | 0% | 8.75% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $350,000 is 133% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- New businesses do well here. 49% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- No single lender dominates, but the top three made 26% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 8.50% is 1.75 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- This market has performed well. Its FY2010-2019 charge-off rate of 2.6% is below the 7.1% overall figure, which is part of why lenders compete for it.
Which of them lend to new businesses
Of those loans, 49.1% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Town and Country CU | 5 | $100,000 | 71% | 7.75% |
| Bell Bank | 4 | $50,000 | 100% | 9.62% |
| Readycap Lending, LLC | 3 | $2,995,000 | 100% | 9.50% |
| First Western Bank & Trust | 2 | $302,000 | 50% | 7.50% |
| Choice Financial Group | 2 | $350,000 | 67% | 9.95% |
| Union State Bank of Hazen | 2 | $70,000 | 100% | 7.62% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in North Dakota: retail, construction, personal services, healthcare, professional services, admin services
- Restaurants and Hotels in comparable states: Alaska, Vermont, West Virginia, Wyoming, South Dakota, Delaware