Dakota Business Lending in
South Dakota
Dakota Business Lending is now serving South Dakota, bringing more than 43 years of experience, deep regional knowledge, and several valuable small business financing options to small businesses across the state. From SBA 504 loans to flexible gap financing, our mission is to be the premier small business resource in our footprint by providing tailored lending solutions and trusted relationships.
The word “Dakota” means “friend” or “ally”, and that spirit is at the heart of who we are: a committed partner in helping South Dakota businesses start, grow, and thrive.
Meet the SD Team
Meet Jason, Ann, and Shelby – the driving forces of Dakota Business Lending in South Dakota! Passionate about helping small businesses succeed, this team goes the extra mile to support entrepreneurs at every stage. Known for their collaboration and commitment, they focus on building strong partnerships to help you secure the financing you need to start, grow, and succeed.
Whether you’re just getting started or ready to take your business to the next level, our South Dakota team is here to help you move forward with confidence.
Jason Gerdes
Business Development Officer
Ann Peterson
VP / Loan Operations
Shelby Kraemer
Underwriter
Frequently Asked Questions
Is Dakota Business Lending new to South Dakota?
While we’re newly expanded into South Dakota, Dakota Business lending has more than 43 years of experience serving small businesses across the region. Our team includes South Dakota-based staff who know and care about the communities we serve.
Is Dakota Business Lending new to South Dakota?
While we’re newly expanded into South Dakota, Dakota Business lending has more than 43 years of experience serving small businesses across the region. Our team includes South Dakota-based staff who know and care about the communities we serve.
What loan programs are available through Dakota Business Lending?
Dakota Business Lending specializes in the SBA 504 loan program, and also offers a variety of flexible gap financing options that can be used alongside the 504 or for projects where traditional financing doesn’t quite fit the mold. Our programs support businesses at every stage.
Do you work with banks and lenders?
Absolutely! Dakota Business Lending does not compete with banks, but partners with them to bring SBA 504 and other financing tools to their clients.
Who should I contact about getting started?
Business owners or lenders can reach out to Jason Gerdes at [email protected]. He will learn more about your project, talk to you about next steps, and connect you with others on our team if needed.
Where is your South Dakota office located?
Our office is located at 101 S Reid St. #307, Sioux Falls, SD 57103. You’re welcome to stop in or reach out to our team at any time.
SBA 504 Loan Program in South Dakota
Dakota Business Lending in South Dakota offers the SBA 504 loan program – one of the best kept secrets in the small business financing world today. The program can finance long-term fixed assets and offers benefits such as:
Up to 90% financing
10, 20, and 25-year term options
Fixed, below-market interest rates
Minimum 10% down payment
SBA 504 Structure Examples
Depending on the type of business and what the loan will be used for, there are several ways that your loan may be structured.
The typical SBA 504 loan is structured in a 50-40-10 model:
- 50% financed by a third party lender
- 40% financed by Dakota Business Lending and the SBA
- 10% financed by the borrower in the form of a down payment
*Loan structure may vary. Please contact us to learn more & get specific details on your project’s structure.
The SBA 504 Loan Program in Action
The real measure of our success and impact is told in the stories of our borrowers: the entrepreneurs and businesses that dared to turn a dream into a plan into a reality. Check out how the SBA 504 loan program helped this authentic Irish pub in Sioux Falls, SD.
Blarney Stone - Authentic Irish Pub
Matt Geiger, Jim Poolman, and Russell Wanner wanted to share their love for authentic Irish foods and drinks with their community. The trio utilized the SBA 504 loan program through Dakota Business Lending to open their first location in downtown Bismarck, ND in 2009 and expand to West Fargo, ND in 2014.
- In 2018, the three owners saw an opportunity to bring their successful business to South Dakota.
- Their third SBA 504 loan helped them purchase a prime location in Sioux Falls and transform it with their signature charm.
- Today, the business continues to thrive under the leadership of its current partners, Chad Wachter and Dustin Hollevoet.
Additional Loan Programs
Dakota Business Lending offers additional gap financing options when projects don’t fit the traditional lending mold.
These loans range from $1,000-$75,000, are available for all stages of business, and can help businesses on their Path to Bankability.
Borrower Resources
There are a variety of FREE resources and programs available for small businesses throughout Montana. Here are a few that we commonly refer our borrowers to for entrepreneurial development resources such as education, training, and technical assistance:
SD Women's Business Center
Assists current & potential women business owners with training, technology, & business development
SD Small Business Development Center
Assists small businesses with business plans and financial projections
SCORE Mentors
Retired business owners volunteer to mentor and counsel small business owners
The Small Business Administration (SBA) website also contains a wealth of information on starting and running a business, including:
Small Business Resource Guide
Download this guide that includes various aspects on starting and operating a business
SBA Learning Center
This portal includes many online training courses on almost every aspect of business ownership
Dakota Business Newsletter
Email dedicated to providing valuable information about starting & growing a small business
Lender Resources
Are you wanting to know more about the SBA 504 loan program and if it’s the right fit for your borrower? Download our resources below to get an overview of the SBA 504 / Debt Refinance programs and their requirements.
