What Lake Agassiz Development Group does

Lake Agassiz Development Group (LADG) is a Fargo, North Dakota-based non-profit economic development organization operating since 1974 that delivers community development, small business lending, planning, and senior housing services across North Dakota and seven adjacent Minnesota counties. The organization is structured as four affiliated entities: Lake Agassiz Regional Council (LARC), which holds the federal Economic Development District designation; Lake Agassiz Regional Development Corporation (LARDC), which operates the Regional Small Business Center incubator; Lake Agassiz Certified Development Company (LACDC), which originates SBA 504 loans; and Lake Agassiz Housing Corporation (LAHC), which owns four rural senior housing facilities.

LADG's core products are a portfolio of seven lending programs (SBA 504, SBA Microloan, USDA Intermediary Relending Program, USDA Rural Microentrepreneur Assistance Program, EDA Revolving Loan, Energy Efficiency Revolving Loan Fund, and LADGrow), fee-for-service community and economic development planning for townships, cities, and counties, the Regional Small Business Center in downtown Fargo (incubator capacity for approximately 23 businesses), virtual "Office Without an Office" services, and senior housing facilities in Wahpeton, Lisbon, Hope, and Page. There is no proprietary technology platform; operations rely on federal program infrastructure (SBA, USDA, EDA, HUD, DOE) and bank partnership networks for the 50/40/10 SBA 504 loan structure.

The revenue model combines loan servicing and origination fees across multiple federal programs, below-market interest spread on grant-capitalized revolving loan funds, fee-for-service planning engagements with local governments, and rental income from the four owned senior housing facilities. The customer base spans entrepreneurs and small businesses, local government clients, commercial and multi-family property owners undertaking energy retrofits, and senior residents, with a sales-led, relationship-based go-to-market motion anchored in direct outreach and referrals from partner organizations such as SCORE, ND SBDC, Bank of North Dakota, and the ND Department of Commerce.

Name

Lake Agassiz Development Group

Legal name

Lake Agassiz Development Group

Website

https://lakeagassiz.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

1–10 employees

Short description

Lake Agassiz Development Group is a Fargo, North Dakota non-profit economic development organization offering SBA 504 and micro lending, community planning, business incubation, and senior housing across North Dakota and seven Minnesota counties.

Ownership category

akta.pro rank

Product category

Community Development Lending and Economic Development Services

NAICS

Administration of Urban Planning and Community and Rural Development (92512)

SIC

Short-Term Business Credit Institutions (6153), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI)

Keywords

• Small business lending
• Economic development services
• Community planning
• SBA 504 loans
• Microloan programs

Headquarters

HQ city

Fargo

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. SBA 504 Loan Origination: As a certified development company, LADG originates SBA 504 loans for small businesses across North Dakota. Provides long-term, fixed-rate financing (50% qualified lender, 40% SBA 504, 10% equity injection). Revenue generated through loan servicing and origination fees associated with the 504 program.
2. Microloan Programs: Offers SBA Microloan Program (since 1993) and Rural Microentrepreneur Assistance Program providing fixed-rate financing up to $50,000 for working capital, inventory, and equipment needs. Revenue from interest and loan servicing.
3. Planning Services: Provides community development and planning services to local governments including economic development, diversification strategies, multi-hazard mitigation planning, main street revitalization, housing, tourism and recreation planning. Services provided on a fee-for-service basis.
4. Energy Efficiency Revolving Loan Fund: Loan program for upgrades and retrofits to increase efficiency of commercial and multi-family housing buildings in North Dakota. Administered on behalf of the State of North Dakota, capitalized through US Department of Energy grant.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Lake Agassiz Development Group originates and services small business loans (SBA 504, SBA Microloan, USDA IRP, EDA Revolving Loan, Energy Efficiency RLF, Rural Microentrepreneur Assistance, LADGrow) and delivers fee-for-service community and economic development planning, grant writing, and fiscal agent services to townships, cities, and counties across North Dakota. It also operates the Regional Small Business Center incubator in downtown Fargo and develops/owns senior housing facilities in rural North Dakota.

Product overview

Lake Agassiz Development Group (LADG) is a non-profit economic development organization composed of four entities: Lake Agassiz Regional Council (LARC), Lake Agassiz Regional Development Corporation (LARDC), Lake Agassiz Certified Development Company (LACDC), and Lake Agassiz Housing Corporation (LAHC). The organization offers a portfolio of lending programs including the SBA 504 Loan Program, SBA Microloan Program, Energy Efficiency Revolving Loan Fund, Rural Microentrepreneur Assistance Program, USDA Intermediary Relending Program, EDA Revolving Loan, and LADGrow. Beyond lending, LADG provides the Regional Small Business Center for entrepreneur incubation, virtual 'Office Without an Office' services, community planning services, and develops senior housing facilities across North Dakota communities.

Differentiator

Problem solved

Functional benefit

Products and services

• SBA 504 Loan Program Long-term, fixed-rate financing program for small businesses in conjunction with qualified lenders for owner-occupied real estate or equipment purchases. Provides up to 40% of project costs with terms of 10, 20, or 25 years under the standard SBA 504 structure (50% qualified lender / 40% SBA 504 / 10% equity injection). Available effective rates (June): 10-year at 6.06%, 20-year at 5.918%, 25-year at 5.874%.
• SBA Microloan Program Fixed-rate financing program offering up to $50,000 for working capital, inventory, and equipment needs for new and existing small businesses in North Dakota and seven counties in Minnesota.
• Energy Efficiency Revolving Loan Fund

Quantifiable outcome

• Created and manages comprehensive SBA 504 loan program since 2004
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered minor and core.

• SCOREminorGTM or Marketing PartnerResource partner offering business tools, templates, tips, and free confidential business counseling and mentorship. LADG refers entrepreneurs to SCORE services.
• North Dakota Small Business Development Center (SBDC)minorGTM or Marketing PartnerCatalyst for business development serving small business owners and entrepreneurs across North Dakota. LADG refers entrepreneurs to ND SBDC services.
• NDSU Research and Technology ParkminorGTM or Marketing PartnerND certified Entrepreneurial Center helping small businesses access the Innovate ND program. Located in Fargo for university researchers and private industry collaboration.
• University of North Dakota Center for InnovationminorGTM or Marketing PartnerND certified Entrepreneurial Center helping innovators and entrepreneurs launch new ventures, commercialize technologies, and secure capital. Located in Grand Forks.
• The Idea Center (Bismarck)minorGTM or Marketing PartnerND certified Entrepreneurial Center serving early-stage startups and businesses looking to expand, with access to Innovate ND program.
• Strom Center for Entrepreneurship & InnovationminorGTM or Marketing PartnerND certified Entrepreneurial Center located in Dickinson providing confidential professional services to entrepreneurs and community groups.
• MiSU Severson Entrepreneurship AcademyminorGTM or Marketing PartnerND certified Entrepreneurial Center at Minot State University helping small businesses access Innovate ND program and start-up ventures.
• North Dakota Department of CommercecoreStrategic or Co-development PartnerState agency leading efforts to attract, retain and expand wealth in North Dakota. Strategic alignment on economic development initiatives.
• Greater Fargo Moorhead EDC (GFMEDC)minorStrategic or Co-development PartnerRegional economic development organization building Greater Fargo Moorhead through workforce development, business retention/expansion, and infrastructure initiatives.
• Emerging PrairieminorStrategic or Co-development PartnerOrganization committed to informing, connecting and activating the entrepreneurial ecosystem in Fargo and upper Great Plains.

Scale indicators8 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• National Development Council (NDC): National nonprofit that finances small businesses and affordable housing through SBA 504, EDA, USDA, and HUD programs, often partnering with local CDCs. Closely mirrors LADG's federal-program intermediary model at national scale.
• Dakota Business Lending: Fargo-based Certified Development Company providing SBA 504 loans and conventional financing to small businesses across North Dakota and western Minnesota. Directly comparable in lending focus, CDC designation, and regional service territory.
• Capital Impact Partners: National nonprofit CDFI originating SBA 504 and community development loans, with focus on underserved markets and cooperative enterprises. Comparable CDC/CDFI operating model and federal program intermediation.
• Fahe: Nonprofit CDFI serving Appalachia and rural communities with affordable housing, small-business lending, and community development programs. Comparable mix of mission-driven lending, housing development, and regional economic focus.
• Rural Community Assistance Corporation (RCAC): Regional nonprofit providing loans, training, and technical assistance to rural communities across the western US for housing, infrastructure, and economic development. Strong comparability in rural lending + planning model.

Broad incumbents

• NeighborWorks America: National network of 250+ community development nonprofits providing affordable housing, financial counseling, and community revitalization. Overlaps with LADG's housing development and community planning activities at a national scale.
• LISC (Local Initiatives Support Corporation): Major national CDFI deploying capital and technical assistance for affordable housing, small businesses, and community development. Overlaps with LADG in SBA 504 intermediation and place-based economic development, but at much larger scale.
• U.S. Small Business Administration (SBA) — North Dakota District Office: Federal agency overseeing SBA 504, Microloan, and 7(a) programs in North Dakota, of which LADG is a sub-intermediary. Comparable program area and customer base; SBA sets policy that LADG executes at ground level.

Regional players

• North Dakota Small Business Development Center (ND SBDC): Statewide resource partner offering no-cost business advising, training, and capital access support to North Dakota entrepreneurs. Comparable in serving the same small-business customer base with complementary (not duplicative) services.
• Greater Fargo Moorhead Economic Development Corporation: Regional economic development organization building Greater Fargo-Moorhead through workforce, retention, and infrastructure initiatives. Overlaps with LADG's community planning and business attraction services in the same metro market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/lakeagassiz
• LinkedInlinkedin.com/company/lake-agassiz-development-group
• Xx.com/LakeAgassiz

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lake Agassiz Development Group