Small Business Loans in North Dakota
73,847 small businesses. 198 SBA 7(a) loans approved in FY2024. Here's what the North Dakota financing landscape looks like — and how to navigate it.
Small businesses
73,847
SBA Office of Advocacy, 2024 Profile
SBA 7(a) loans — FY2024
198
$78.4M total approved
Avg SBA loan size
$396K
FY2024 · SBA FOIA dataset
Population
780,588
U.S. Census Bureau, 2025 estimate
North Dakota has 74,000 small businesses employing 156,000 workers — 51.1 percent of the state's private workforce. In FY2024, North Dakota small businesses received 198 SBA 7(a) loans totaling $78 million, with an average loan size of approximately $396,000. North Dakota's SMB economy is defined by agriculture (the nation's largest wheat, sunflower, canola, and dry bean producer) and energy (the Bakken Formation makes North Dakota one of the top oil-producing states), alongside a growing service economy in Fargo and Bismarck.
North Dakota's Bakken oil patch in the western part of the state creates energy services SMBs with cyclical financing needs — equipment for drilling operations, working capital for contract services, and SBA 7(a) for business acquisition when oil prices support investment. The agricultural sector — particularly wheat, sunflowers, and soybeans — creates seasonal working capital and equipment financing demand across a large geographic area. Fargo has a growing technology and professional services economy, disproportionate to North Dakota's overall size.
North Dakota has no statewide commercial financing disclosure law. The state's unique combination of agriculture and energy creates SMB financing needs that span equipment loans, seasonal working capital, and cyclical business capital — all well served by the ClearValue Lending partner network. Data sourced from the SBA Office of Advocacy (advocacy.sba.gov), SBA FOIA loan dataset (data.sba.gov), U.S. Census Bureau (census.gov), and the Federal Reserve Small Business Credit Survey (fedsmallbusiness.org).
Top SMB industries in North Dakota
#1
Agriculture & Crop Production
North Dakota leads the nation in wheat, sunflower, canola, and dry beans. Farm operators access equipment financing for agricultural machinery and seasonal working capital for crop cycles. Grain elevators and agricultural cooperatives also access SBA 7(a).
#2
Oil, Gas & Energy Services
The Bakken Formation in western North Dakota is one of the nation's largest oil-producing regions. Energy services SMBs access equipment financing for oilfield machinery and working capital for contract operations — both cyclical with oil prices.
#3
Construction
North Dakota's energy boom and agricultural economy sustain construction SMB demand. Equipment financing and SBA 7(a) serve construction firms in both urban (Fargo, Bismarck) and rural oil patch markets.
#4
Health Care & Social Assistance
North Dakota's healthcare SMB sector serves a rural and small-city population. SBA 7(a) and equipment financing support primary care and behavioral health practices across the state.
#5
Transportation & Warehousing
North Dakota's agricultural export logistics and oil patch transportation create a trucking and logistics SMB sector. Equipment financing and working capital serve small fleet operators.
North Dakota commercial financing disclosure
StatuteNorth Dakota — no statewide CFDL enacted as of 2026-05-20
What this means for borrowersNorth Dakota does not currently have a statewide commercial financing disclosure law. Commercial lending in North Dakota is governed primarily by federal law and lender-specific agreements.
CVL operating note: ClearValue Lending routes North Dakota SMB applicants to lender partners operating across all North Dakota markets.
SBA 7(a) lending in North Dakota — FY2024
Computed from SBA FOIA loan-level dataset (data.sba.gov). Aggregate of all FY2024 approved 7(a) loans with project state = ND.
| Metric | Value |
|---|---|
| Total 7(a) loans approved — FY2024 | 198 |
| Total dollar volume — FY2024 | $78.4M |
| Average loan size — FY2024 | $396K |
Source: SBA FOIA 7(a) loan dataset — data.sba.gov, as of March 31, 2026. Reflects FY2024, the most recent full fiscal year aggregated here. SBA 7(a) is one program; lenders also deploy conventional, SBA 504, USDA B&I, and private-market products.
National SBA program context (FY2025)
Nationwide, the SBA guaranteed $44.8 billion across roughly 84,400 loans in FY2025 (Oct 2024–Sept 2025), one of the program's highest-volume years. Effective May 2026, the SBA also doubled the cumulative 7(a)/504 loan limit to $10 million per borrower — expanding access for established businesses seeking repeat or larger-scale financing.
Sources: SBA FY2025 press release · SBA May 2026 loan-limit rule.
North Dakota small business financing — common questions
How many small businesses are in North Dakota? +
North Dakota has approximately 74,000 small businesses, representing 99.2 percent of all businesses in the state. They employ 156,000 workers — 51.1 percent of North Dakota's private workforce. Source: SBA Office of Advocacy, 2024 Small Business Profile.
How active is SBA 7(a) lending in North Dakota? +
North Dakota received 198 SBA 7(a) loan approvals in FY2024, totaling $78 million. The average loan size was approximately $396,000. Source: SBA FOIA loan dataset, FY2024 aggregate.
Does North Dakota have a commercial financing disclosure law? +
No. North Dakota has not enacted a statewide commercial financing disclosure law as of 2026.
What financing products work best for North Dakota small businesses? +
Agricultural businesses use equipment financing and seasonal working capital. Energy services businesses use equipment financing and working capital. Healthcare practices access SBA 7(a). The right product depends on your industry and revenue.
Is ClearValue Lending available in North Dakota? +
Yes. ClearValue Lending routes North Dakota SMB applicants to lender partners operating across Fargo, Bismarck, Grand Forks, Minot, and statewide. We are a funding platform, not a lender or broker.
What are typical eligibility minimums for North Dakota SMB financing? +
SBA 7(a) typically requires 2+ years in business, 650+ FICO, and $150,000+ annual revenue. Revenue-based financing may be available with 500+ FICO, 6+ months in business, and $10,000+ monthly revenue. All financing is subject to lender underwriting.
Sources & methodology
- SBA Office of Advocacy — 2024 Small Business Profile: North Dakota — SMB count, top industries, employment data. Underlying: Census 2021 data.
- SBA FOIA 7(a) Loan Dataset — FY2024 North Dakota Aggregate — FY2024 approval count and dollar volume, projectstate=ND, approvalfy=2024.
- U.S. Census Bureau — State Population Estimates (2025) — North Dakota population: 780,588 (July 1, 2025 estimate).
- Federal Reserve Small Business Credit Survey — 2026 Report on Employer Firms (2025 survey data) — Small business credit conditions, lender relationships, and financing outcomes. Federal Reserve System.
Editorial disclaimer: Data on this page reflects the sources cited above as of May 22, 2026. SBA 7(a) loan counts and dollar volumes are computed from the public SBA FOIA dataset. Small business counts use Census 2021 data as published by SBA Office of Advocacy in November 2024. Population figures are July 1, 2025 Census Bureau estimates. All financing is subject to lender partner approval. Not legal, tax, or financial advice.
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