Dakota Heritage Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Dakota Heritage Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 212321 | Construction Sand and Gravel Mining | 11 | $1.6M | $149K | 22.9% |
| 311211 | Flour Milling | 5 | $2.4M | $473K | 10.4% |
| 115112 | Soil Preparation, Planting, and Cultivating | 3 | $953K | $318K | 6.3% |
| 541940 | Veterinary Services | 2 | $104K | $52K | 4.2% |
| 541110 | Offices of Lawyers | 1 | $18K | $18K | 2.1% |
| 423120 | Motor Vehicle Supplies and New Parts Merchant Wholesalers | 1 | $100K | $100K | 2.1% |
| 621310 | Offices of Chiropractors | 1 | $125K | $125K | 2.1% |
| 327320 | Ready-Mix Concrete Manufacturing | 1 | $150K | $150K | 2.1% |
| 811111 | General Automotive Repair | 1 | $150K | $150K | 2.1% |
| 112990 | All Other Animal Production | 1 | $95K | $95K | 2.1% |
Geographic Distribution
SBA lending activity for Dakota Heritage Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| North Dakota (ND) | 48 | $9.9M | 100.0% |
Why Choose Dakota Heritage Bank?
Based on SBA 7(a) lending track record from 1991-2012
- ✓Proven Track Record: 48 SBA loans approved, totaling $9.9M in financing
- ✓Industry Expertise: Specialized focus on Construction Sand and Gravel Mining, Flour Milling, Soil Preparation, Planting, and Cultivating
- ✓Competitive Terms: Average interest rate of 4.50% with flexible term lengths averaging 88 months
- ✓Loan Range: Loan sizes from $18K to $833K, with an average of $205K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in ND
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Dakota Heritage Bank SBA lending
What types of businesses does Dakota Heritage Bank typically finance?
Dakota Heritage Bank specializes in SBA 7(a) lending to specific industries including construction sand and gravel mining, flour milling, soil preparation, planting, and cultivating, veterinary services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Dakota Heritage Bank's typical SBA loan terms?
Dakota Heritage Bank's SBA 7(a) loans typically feature an average interest rate of 4.50% and average term length of 88 months (approximately 7 years). Loan sizes range from $18K to $833K, with an average loan size of $205K.
Do I need a business valuation for a Dakota Heritage Bank SBA loan?
Yes, Dakota Heritage Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Dakota Heritage Bank compare to other SBA lenders?
Dakota Heritage Bank has originated 48 SBA loans totaling $9.9M since 1991. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Dakota Heritage Bank lend in?
Dakota Heritage Bank provides SBA 7(a) financing with particularly strong presence in ND. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.