Lending data
Who actually lends to retail businesses in North Dakota?
48 SBA 7(a) loans went to retail businesses in North Dakota recently, at a median of $201,700. Here are the lenders that made them, ranked.
48 SBA 7(a) loans went to retail businesses in North Dakota in the most recent fiscal years. The median was $201,700 over 10 years. The most active lender was Wallis Bank, with 7 loans.
What lending to retail businesses 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 | Retail, North Dakota | All 7(a) borrowers |
|---|---|---|
| Loans approved | 48 | 214,102 |
| Median loan | $201,700 | $150,000 |
| 25th - 75th percentile | $66,200 - $481,225 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.38% | 10.25% |
| Share to startups | 37.5% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 7.3% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to retail businesses 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 |
|---|---|---|---|---|
| Wallis Bank | 7 | $713,000 | 0% | 9.75% |
| Aspire Bank | 5 | $300,000 | 40% | 6.75% |
| Town and Country CU | 4 | $130,000 | 50% | 7.00% |
| Bravera Bank | 4 | $221,700 | 25% | 9.50% |
| Old National Bank | 4 | $226,000 | 25% | 9.12% |
| U.S. Bank | 3 | $25,000 | 67% | 10.74% |
| Union State Bank of Hazen | 3 | $30,000 | 33% | 6.90% |
| Choice Financial Group | 2 | $100,000 | 100% | 8.85% |
| The Huntington National Bank | 2 | $147,000 | 100% | 11.25% |
| First Bank of the Lake | 2 | $3,149,000 | 50% | 9.88% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $201,700 is 34% 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.
- Startup share is about average, at 38% against 34% nationally.
- No single lender dominates, but the top three made 33% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.38% is 0.87 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 37.5% 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 |
|---|---|---|---|---|
| Choice Financial Group | 2 | $100,000 | 100% | 8.85% |
| Town and Country CU | 2 | $130,000 | 50% | 7.00% |
| U.S. Bank | 2 | $25,000 | 67% | 10.74% |
| The Huntington National Bank | 2 | $147,000 | 100% | 11.25% |
| Aspire Bank | 2 | $300,000 | 40% | 6.75% |
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: restaurants and hotels, construction, personal services, healthcare, professional services, admin services
- Retail in comparable states: Wyoming, South Dakota, Alaska, West Virginia, Hawaii, Vermont