Organizations Filed Purposes:
TO BRING A VARIETY OF FINANCE TOOLS TO NORTH DAKOTA BUSINESSES, WORKING IN CONJUNCTION WITH FINANCIAL INSTITUTIONS AND ECONOMIC DEVELOPMENT ORGANIZATIONS ACROSS THE STATE AND TO SUPPORT THOSE ACTIVITIES WHICH ENHANCE ECONOMIC DEVELOPMENT IN NORTH DAKOTA.
SBA 504 PROGRAM, 35 LOANS FUNDED IN 2019, 1,005 FUNDED PROGRAM TO DATE. DAKOTA BUSINESS LENDING IS THE NUMBER 1 SBA 504 LENDER IN THE STATE OF NORTH DAKOTA. THE SBA 504 PROGRAM PROVIDES LONG-TERM, FIXED RATE FINANCING TO AMERICA'S SMALL BUSINESSES. THE PURPOSE OF THE 504 LOAN PROGRAM IS TO CREATE AND RETAIN JOBS BY PROVIDING A STABLE, QUALITY SOURCE OF CAPITAL TO SMALL BUSINESSES WHICH OFTEN TIMES HAVE DIFFICULTY QUALIFYING FOR TRADITIONAL FINANCING.
INTERMEDIARY LENDING PROGRAM, 5 LOANS FUNDED IN 2019. THESE FIXED-RATE, 5-15 YEAR TERM LOANS UP TO $200,000 ARE INTENDED FOR SMALL BUSINESSES WHO MAY NOT BE ABLE TO OBTAIN CONVENTIONAL FUNDING, OR WHO NEED GAP FINANCING FOR A CONVENTIONAL LOAN. ILP LOANS MAY BE USED FOR WORKING CAPITAL, EQUIPMENT, AND INVENTORY OR REAL ESTATE.
INTERMEDIARY RELENDING PROGRAM 2 & 3, 1 LOAN FUNDED IN 2019, 56 LOANS FUNDED TO DATE. BORROWERS IN RURAL COMMUNITIES (POPULATION UNDER 50,000) MAY BENEFIT FROM A FIXED-RATE, 5-15-YEAR LOAN UP TO $250,000 TO FINANCE A NEW OR EXISTING BUSINESS, PURCHASE EQUIPMENT OR REAL ESTATE OR USE AS WORKING CAPITAL. HEALTH-RELATED IRP LOANS ARE ALSO AVAILABLE, AS DAKOTA BUSINESS LENDING HAS ESTABLISHED A PARTNERSHIP WITH AREAS LENDERS AND SMALL BUSINESSES AS WELL AS THE U.S. DEPARTMENT OF AGRICULTURE TO OFFER THE INTERMEDIARY RELENDING PROGRAM (IRP).
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Steve M Dusek | PRESIDENT & CEO | 40 | $143,250 |
| Michael Connor | DIRECTOR | 1 | $2,750 |
| John Phillips | DIRECTOR | 1 | $2,750 |
| Andrew Maragos | PAST CHAIRMAN | 1 | $2,750 |
| Richard Becker | SECRETARY/TREASURER | 1 | $2,750 |
| Jim Hambrick | VICE-CHAIRMAN | 1 | $2,750 |
| Dan Jacobson | CHAIRMAN | 1 | $2,750 |
| Lori Gabriel | DIRECTOR | 1 | $1,750 |
| Marlowe Johnson | DIRECTOR | 1 | $1,750 |
| Tonya Holmstrom | DIRECTOR | 1 | $1,250 |
| Kim Kautzman | DIRECTOR | 1 | $1,250 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202013189349306801_public.xml