SBA loans by state
SBA loans in North Dakota: 89 approvals in FY 2026, median $180,000
The state used 504 loans heavily: 43 approvals for $31.5 million. Only 5% of variable loans sat at the SBA maximum.
Independent site, not a lender and not affiliated with the U.S. Small Business Administration. Loans are applied for only with an SBA lender.
Your loan against approvals in your state
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North Dakota: 7(a) loans approved last year
89
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| North Dakota: median rate at approval, $50,001 to $250,000 | 8.75% |
| North Dakota: median 7(a) loan last year | $180,000 |
| Payment over 10 years, SBA fee added to the loan | $2,432/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
North Dakota, FY 2026: 89 SBA 7(a) approvals for $65.4 million (51st of the 50 states and DC, SBA file of September 30, 2026). The state used 504 loans heavily: 43 approvals for $31.5 million. Only 5% of variable loans sat at the SBA maximum. 20% of loans financed the purchase of a business. Mid-size loans had a median rate of 8.75%, below the national 9.75%. Home-state lenders made 46% of the loans, against 26% nationwide. 35% of loans had a fixed rate, against 13% nationally. 36 lenders were active, a wide field for the volume. Credit unions made 13% of loans. Start-ups took only 11% of approvals. Borrowers reported 17.7 jobs per loan. Few approvals were cancelled, 7%. Today’s cap on a $180,000 variable loan: 13.00%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| U.S. Bank | 12 | $43,600 | n/a | Ohio |
| Town and Country CU | 8 | $142,500 | n/a | North Dakota (in-state) |
| Alerus Financial | 6 | $770,500 | n/a | North Dakota (in-state) |
| Cornerstone Bank | 5 | $165,000 | n/a | North Dakota (in-state) |
| Bell Bank | 4 | $350,000 | n/a | North Dakota (in-state) |
A leading 504 state
Relative to its 7(a) volume, North Dakota uses 504 debentures more than almost anywhere: 43 of them for $31.5 million, a ratio to 7(a) loans 2nd highest among the 50 states and DC. Dakota Business Lending arranged 18 on its own. Building owners here can count on a CDC that knows the local market.
Almost nobody pays the maximum
Just 5% of North Dakota’s variable loans were at the SBA ceiling, 7th lowest among the 50 states and DC. Lenders here compete below the cap, so the median for your loan size, in the table above, is the better benchmark.
A market for business buyers
Acquisitions took 20% of North Dakota’s SBA loans, 2nd highest among the 50 states and DC. Each followed SBA’s rules for buying a business, with their own requirements on the buyer’s equity, the valuation and any seller note.
Mid-size loans priced below average
On loans of $50,001 to $250,000, the median variable rate in North Dakota was 8.75%, against 9.75% nationally. A North Dakota quote above the national median for that size has room to come down.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 15 | too few | 13.50% |
| $50,001 to $250,000 | 36 | 8.75% | 13.00% |
| $250,001 to $350,000 | 10 | too few | 11.50% |
| over $350,000 | 28 | 8.25% | 10.00% |
One of the most home-grown SBA markets
Few states rely on their own banks the way North Dakota does: 46% of its loans came from a lender headquartered there, 6th highest among the 50 states and DC. Town and Country CU, Alerus Financial and Cornerstone Bank carry most of that. Margins: 1.00 point over prime at the median for in-state lenders, 2.75 points for the others.
A fixed-rate market
North Dakota lenders wrote 35% of their SBA loans at a fixed rate, 2nd highest among the 50 states and DC, at a median of 7.25%. The fixed cap, prime plus 5 to 8 points, is set in the Federal Register notice of August 1, 2022.
More lenders per loan than most states
36 lenders made North Dakota’s 89 loans. For that many loans, its number of lenders is the highest among the 50 states and DC. Shopping the same project to three or four of them is realistic here.
Credit unions take part
Credit unions made 13% of North Dakota’s SBA loans, against 3% nationally. A member business can ask its credit union first; the SBA rules and caps are the same.
Counties with the most approvals: Cass (37), Ward (14) and Burleigh (8). Trades: hotels and motels (9), limited-service restaurants (5), beauty salons (5), offices of chiropractors (5) and support activities for oil and gas operations (5).
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