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Dakota Business Lending Now Serving the Entire State of Minnesota

Jun 5, 2023

Since 2004, Dakota Business Lending has been offering the SBA 504 loan program to small businesses located in five counties in western Minnesota – Otter Tail, Polk, Becker, Clay, and Wilkin. In 2022, they expanded all their special loan programs to be available across these five counties, bringing even more financing solutions to small businesses. Today, Dakota Business Lending is excited to announce that they are a multi-state certified development corporation (CDC) now providing their SBA 504 and all other loan programs across the entire state of Minnesota.

“Due to our relationships and strong reputation for delivering financial solutions through the 504 program, we frequently receive requests from other areas in Minnesota outside of the five counties we serve,” shared Steve Dusek, President & CEO. “This expansion is part of our efforts to better meet the needs of small businesses throughout the region, ensure they have a talented partner that cares about them, and give them access to the financing they need to succeed. We are excited to take this next step and further our mission into all of Minnesota.” 

Behind this expansion was Dakota Business Lending’s desire to serve small businesses in Minnesota with an even greater capacity and continue to help bridge the gap between entrepreneurs and their unique loan programs. Their knowledge, experience, and network in Minnesota has grown significantly since they first began serving selected counties in 2004, and this expansion allows them to take their mission one step further and assist even more entrepreneurs in pursuing their dreams of starting or expanding their own small businesses.

Dakota Business Lending’s Minnesota office is under the direction of Commercial Loan Officers Jason Gerdes, Scott Schake, Steve Dusek, and Ann Peterson, who all have extensive SBA and commercial lending experience serving small businesses in Minnesota. Gerdes is a lifelong resident of Minnesota and joined the Dakota Business Lending team in 2021 after 16 years at another 504 CDC like Dakota Business Lending. Schake is originally from western Minnesota and joined the team in 2022 with over 18 years of experience at a 504 CDC, 10 years in commercial banking, and 8 years as a small business owner. Dusek has worked in SBA/business lending for over 25 years and currently serves as Dakota Business Lending’s President & CEO since 2010. Ann Peterson joined the team in 2021 after 22 years at another 504 CDC, including 12 years as President/CEO. Together, these four are working tirelessly to reach out to lenders, economic developers, and other partners to share information about Dakota Business Lending, their programs, and how they can meet the financing needs of small businesses.

A separate loan committee for Dakota Business Lending’s Minnesota 504 lending has also been created, comprised of representatives from various sectors in business, lending, and economic development throughout the state. A Minnesota office has been set up in Worthington, MN.

For more information on Dakota Business Lending’s programs or to get connected with one of their commercial loan officers in Minnesota, visit