Small business loans in Fargo, ND
Short answer
The most active SBA lenders in Fargo, ND since FY2024 are Bravera Bank (17 loans) and Bell Bank (10). The median loan was $200,000, and half fell between $65,500 and $460,950. For free help, see the North Dakota Small Business Development Centers. Source: SBA 7(a) loan data.
- SBA loans since FY2024
- 103
- approved since FY2024
- $40.43M
- median loan
- $200,000
- through SBA Express
- 52.4%
Lenders making SBA loans in Fargo
No lender made more than 17% of the loans in Fargo, and Bravera Bank made the most. The five largest lenders together made 51%.
| Lender | Loans | Share |
|---|---|---|
| Bravera Bank | 17 | 16.5% |
| Bell Bank | 10 | 9.7% |
| Town and Country CUCredit union | 10 | 9.7% |
| Aspire Bank | 8 | 7.8% |
| Old National Bank | 8 | 7.8% |
Share is the percent of all Fargo loans in that period. Each name links to that lender's page for North Dakota where one exists.
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Local help near Fargo
Fargo borrowers can start with SBA's district office for North Dakota, an SBDC or SCORE.
41% of Fargo borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.
SBA has one district office for North Dakota. Its page points to state and federal resources and to lenders in the area. The North Dakota Small Business Development Centers gives free counseling across North Dakota.
- SBA North Dakota District Office (Fargo)SBA district office
- North Dakota Small Business Development CentersSmall Business Development Center
- SCORE mentors in North DakotaBusiness mentoring
Alongside SBA loans, North Dakota runs four loan programs. The North Dakota page describes each, and the official pages are linked here.
Loan counts and sizes in Fargo
Fargo is the only North Dakota city with 100 or more SBA loans since FY2020. Nationally it is the 205th busiest of the 580 cities that reach 100 loans.
The 103 loans, 36.0% of the 286 in North Dakota, were approved for $40.4 million in all. The medianThe middle figure. Half the loans were larger and half were smaller. loan was $200,000, 33% above the national median of $150,300. Half of the loans fell between $65,500 and $460,950. The Fargo median is 31% above the North Dakota median of $152,500.
| Measure | Fargo | North Dakota | U.S. |
|---|---|---|---|
| Loans | 103 | 286 | 162,355 |
| Median loan | $200,000 | $152,500 | $150,300 |
| 25th percentile | $65,500 | $60,000 | $50,000 |
| 75th percentile | $460,950 | $500,000 | $500,000 |
| Via SBA Express | 52.4% | 46.9% | 35.8% |
| Lines of credit | 42.7% | 28.3% | 28.1% |
| Startups | 21.4% | 15.7% | 16.1% |
| Ownership changes | 17.5% | 17.5% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 1.5 | 2.0 | 2.75 |
| Charged off | Fewer than 5 | Fewer than 5 | 3.6% |
A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.
78% of the loans were $500,000 or less, the size SBA Express covers. 52.4% of all loans went through SBA Express, above the national 35.8%. Lines of credit were 42.7% of loans, above the national 28.1%.
Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.
By business age, 41.7% of loans went to businesses more than two years old and 19.4% to businesses two years old or younger. Startups received 21.4% and changes of ownership 17.5%. The national startup share is 16.1%.
Fiscal years run October to September. The last bar covers nine of its twelve months.
Volume held steady from FY2024 (43 loans) to FY2025 (41), the two latest full years. The busiest full year in the file was FY2021, with 47 loans. FY2026 already shows 19 loans through June 30.
Of the 130 loans Fargo borrowers received in FY2020 to FY2022, fewer than 5 were charged offThe lender wrote the loan off as a loss because it was not being repaid. by June 30, 2026, against 3.6% nationally. Lenders reported 1,257 jobs supported across the 103 loans since FY2024, about 12.2 per loan. SBA does not audit these estimates.
What businesses in Fargo borrow for
Beauty Salons was the largest borrower group in Fargo, with 8 loans or 7.8% of the total.
| Industry | Loans | Share | U.S. share |
|---|---|---|---|
| Beauty Salons | 8 | 7.8% | 1.5% |
Share is the percent of all Fargo loans in that period. Industry is the NAICS code on each loan. A name links to the North Dakota page for that industry where one exists.
A typical loan payment in Fargo
The median Fargo loan was $200,000 with a median term of 10 years.
The median variable-rate loan in Fargo was priced at Prime plus 1.5 percentage points at approval. At today's Prime that spread works out to 8.50%. On $200,000 over 10 years, principal and interest would come to about $2,480 a month. That is arithmetic on past loans, not a rate a lender is offering.
| Loan | Amount | Monthly payment |
|---|---|---|
| 25th percentile loan | $65,500 | $812 |
| Median loan | $200,000 | $2,480 |
| 75th percentile loan | $460,950 | $5,715 |
Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.
SBA's rate ceiling for this loan size
SBA's maximum for a loan of $200,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 4.5 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).
Fargo loans approved since FY2024 had a median starting rate of 9.5% at approval, against 10.25% nationally. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.
Run your own numbers: payments on a $200,000 loan and SBA Express payment calculator.
SBA 504 loans near Fargo
Fargo has 34 SBA 504 loans since FY2024, with $32.4 million in SBA and CDC dollars.
The median 504 loan in Fargo was $583,000 in SBA and CDC dollars, 12% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.
Lake Agassiz Certified Development Company is the Certified Development CompanyA nonprofit that SBA certifies and regulates to arrange 504 loans together with a bank. (CDC) named on the most loans since FY2024, with 16. Dakota Business Lending follows with 13. The two CDCs listed are named on 29 loans between them.
| Certified Development Company | 504 loans |
|---|---|
| Lake Agassiz Certified Development Company | 16 |
| Dakota Business Lending | 13 |
How a 504 loan is split
A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capitalMoney for day-to-day costs such as payroll, rent and inventory. Full definition or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a list of Certified Development Companies.
Fargo in North Dakota
Fargo made up 36.0% of North Dakota's SBA loans since FY2024.
Fargo is the only North Dakota city with 100 or more SBA loans since FY2020. The North Dakota page covers all 286 loans in North Dakota.
Common questions about SBA loans in Fargo
Which lenders make the most SBA loans in Fargo?
Bravera Bank leads with 17 loans in Fargo since FY2024. Bell Bank (10) and Town and Country CU (10) follow. Only lenders with five or more Fargo loans are counted.
Which industries get SBA loans in Fargo?
Beauty Salons leads with 8 loans in Fargo since FY2024.
How to read this
Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. How we build these pages.
Sources
- SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026
- SBA, 504 loans
- SBA, resource partners: SBDCs and SCORE
- SBA North Dakota District Office (Fargo)
- North Dakota Small Business Development Centers
- SCORE, North Dakota
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)
- sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)
- SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)
- 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)
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Cite this page: Small business loans in Fargo, ND. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/north-dakota-small-business-loans/fargo/
Ask lending partners about a loan in Fargo
Tell us what you need and we refer your request to lending partners.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.