Dakota Business Lending (DBL) is excited to announce a new partnership with South Dakota Development Corporation (SDDC). This collaboration will bring DBL’s 40+ years of small business lending expertise to help support business development and loan operations for SDDC and their borrowers, lenders, and partners throughout South Dakota.
SDDC is a 40+-year-old non-profit Certified Development Corporation (CDC) that provides the SBA 504 loan program – a program designed to promote economic development and retain quality jobs through the financing of long-term fixed assets at a fixed, below-market interest rate – to small businesses across South Dakota.
DBL is the largest, oldest, and leading CDC in the state of North Dakota. Headquartered in Fargo, ND, the organization provides SBA financing across their footprint of ND, MT, and MN, as well as several other financing programs and resources to start, grow, and expand their businesses.
SDDC’s partnership with DBL will help them continue to support the small businesses, lenders, and partners throughout their SD market and ensure that local entrepreneurs are getting access to the SBA 504 loan program as they navigate leadership transitions.
In the near future, SDDC borrowers may be able to utilize additional financing resources throughout DBL’s Community Impact Loan program – a gap financing that offers $1,000 – $250,000 for entrepreneurs to set them on the Path to Bankability, either independently or in partnership with other lending institutions.
DBL is dedicated to offering financing solutions and resources to small businesses throughout their footprint and beyond. Business Development and Commercial Loan Officer, Jason Gerdes, has over 19 years of small business lending experience and will be working directly with SDDC and their lending partners to bring both SBA 504 and Community Impact Loan opportunities to businesses across the state. DBL’s Loan Operations team brings over 100 years of combined banking, lending, and credit experience and will help support SDDC’s borrowers and lenders throughout the entire loan process.
“Our mission has always been to support small businesses and entrepreneurs,” shared Steve Dusek, President & CEO at DBL. “Dakota means ‘friend or ally,’ and we view our partnership with SDDC in this spirit. We want to support SDDC in their ability to continue to assist businesses in South Dakota to start, grow, and make a significant impact on their local economies.”
SDDC is excited to collaborate with DBL and continue to provide personalized, high-quality service and products to their clients. Business owners or lenders can reach out to Jennifer Oberg, President & CEO of SDDC, at jennifer@thinksddc.com or 605-391-5660 to learn more.
