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Small Business Loans in North Dakota

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Loan Overview

Loan Amount Up to $500,000
Estimated Repayment Terms 1-5 Years
Interest Rate Starting at 7%
Speed of Funding As fast as 1 day
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Is your North Dakota business having a rough ride or are you doing so great you’re looking to expand? In either case, sometimes a boost of capital is what you need to get where you want to be as an entrepreneur.

With so many lenders, however, it can be overwhelming to know where to turn. That’s why we’re letting you in on a few top financing providers for small business loans in North Dakota as well as resources you can turn to for help with your venture.

North Dakota’s Small Business Landscape

U.S. New & World Report has ranked North Dakota as the 14th-best state in the country. It’s where more than 74,000 small businesses operate. 

When it comes to jobs and the economy, agriculture plays an important role. In fact, according to the North Dakota Department of Agriculture, nearly 25% of the jobs in the state are in the agricultural sector. Major crops include lentils, canola, sunflowers and soybeans, among others. Additionally, many businesses are in the livestock industry. 

Other industries that contribute to small business employment include: 

  • Food services
  • Accommodations
  • Retail
  • Construction
  • Wholesale trade
  • Manufacturing

5 Banks for North Dakota Business Loans

1. Bell Bank

Bell Bank made WalletHub’s list of best banks in the state, and reviewers on the site gave the institution a 4.5-star rating. Additionally, the Better Business Bureau (BBB) has given it an A+ rating, while Facebook users gave it a 4.6-star rating.

In addition to offering SBA loans to North Dakota businesses, this bank provides the following:

  • Farm loans
  • Agribusiness loans
  • Cash-flow loans
  • Equipment financing 
  • Commercial loans
  • Commercial real estate loans

2. Gate City Bank

Gate City Bank has an A+ rating with the BBB as well as a 4.5-star Facebook rating. Additionally, it’s earned a spot on WalletHub’s 2021 Best Bank in North Dakota list, where users gave the bank a 4.3-star rating. 

Head to 1 of more than 30 branches in the state and speak to a representative about these funding options:

3. Bank Forward

Bank Forward has earned a 4.8-star WalletHub rating and has been awarded 4.2-stars on SmartAsset. This SBA North Dakota lender offers Express, 7(a) and 504 loans. Additional financing options include these: 

  • U.S. Department of Agriculture (USDA) loans
  • Agricultural loans
  • Commercial loans 
  • Business credit cards 
  • Real estate development loans


VISIONBank has a 4.9-star Facebook rating and a 4.9-star WalletHub rating. It’s also A+ rated with BBB.

Available business loans include these:

  • SBA loans
  • Business line of credit
  • Business term loans
  • Commercial real estate loans
  • Bureau of Indian Affairs loans

5. Choice Bank

Whether you’re in search of an SBA loan for your North Dakota business or another type of commercial loan, consider this bank, which has earned a 4.3-star WalletHub rating and a 4.5-star Facebook rating.

Visit 1 of 15 branches in North Dakota, where you’ll find the following:

  • Equipment financing
  • Commercial real estate loans
  • Construction loans
  • Expansion loans
  • Business development loans
  • Working capital loans
  • Inventory loans
  • Letters of credit
  • Business credit cards

Alternative Financing Options in North Dakota

Looking beyond conventional banks, you might consider online lenders and lending marketplaces for your business funding needs.

While banks and credit unions can often offer competitive rates and terms, their application and funding process can take time and require a lot of paperwork. 

Alternative online lenders, in contrast, offer streamlined applications and quick funding times, thanks in part to technology-driven underwriting. Often, borrowers can expect shorter repayment terms, more frequent payment installments and higher interest rates in return for that speed.

  • Applying for North Dakota Business Financing Through Fast Capital 360

    If you’d like to apply for business financing or an SBA loan for your North Dakota venture, we can assist in supporting your funding needs. 

    Here’s what sets us apart:


    Our online application takes just a few minutes to complete. Once approved, you could receive your funding within 1 day.

    Multiple Offers

    We partner with a network of reputable lenders throughout the country. That means your single application could produce several financing offers.

    Expert Guidance

    Review the details of your funding offers with a Fast Capital 360 Business Advisor. Choose the best option for your business. 

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Additional Resources for Small Business Owners in North Dakota

Here are a few organizations in the state that can help you on your entrepreneurial journey, whether through access to capital, educational resources or other tools.

Innovate North Dakota

Innovate North Dakota offers financial assistance to entrepreneurs through a 4-phase grant and voucher program with a match requirement. 

Funding is limited and available on a first-come, first-served basis. That said, not all eligible businesses will necessarily qualify for all 4 phases of funding. For those that do, the complete program length is designed to be 27 months. A total dollar award of up to $40,000 is available for businesses able to go through all phases.

North Dakota Women’s Business Center

At this North Dakota business center, you can take part in free on-demand training or consult with an advisor at no cost. While the office is in Bismarck, live special events, such as women’s leadership training, are offered throughout the state over the course of each year. Virtual events also are available.

North Dakota Small Business Development Centers

Whether you’re a startup or seasoned business owner, head to your local Small Business Development Center, which is sponsored in part by the SBA. Get help writing your business plan, developing a budget, learning about business finance and more.

Locations are available in these North Dakota cities:

  • Bismarck
  • Bowman
  • Devils Lake
  • Dickinson
  • Fargo
  • Grand Forks
  • Minot 
  • Williston

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