Dakota BUSINESS Finance
Dakota Business Finance is a non-profit SBA Certified Development Company providing SBA 504 loans (10- to 25-year fixed-rate financing up to $5M) for small businesses in South Dakota, Minnesota, Iowa, and three Nebraska counties, partnering with 60+ banks and 12+ commercial brokers.
- Company typePrivate
- Founded2006
- HeadquartersSioux Falls, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Dakota BUSINESS Finance does
Dakota Business Finance is a non-profit Certified Development Company (CDC) designated by the U.S. Small Business Administration in 2006 to administer SBA 504 loans across South Dakota, Minnesota, Iowa, and three counties in Nebraska (Cedar, Dakota, and Dixon). The organization is headquartered in Sioux Falls, South Dakota, and operates with a small staff of approximately 10 employees led by President & CEO Lynne Keller Forbes. It functions as a federal economic development intermediary, partnering with 60+ private-sector banks and lenders that provide 50% of project financing, while DBF packages the SBA's 40% debenture portion and the borrower contributes 10% equity.
The company's core product is the SBA 504 loan program, which offers long-term fixed-rate financing (10, 20, or 25-year terms) for small businesses to construct, purchase, or renovate owner-occupied commercial real estate, purchase long-life equipment, or refinance existing debt on fixed assets. Loan sizes range from $25,000 to $5 million ($5.5 million for manufacturers and energy-efficiency projects). The 504 debenture is sold to investors on a monthly basis, and DBF earns a CDC fee of approximately 1.5% of the debenture plus closing and underwriting fees, totaling roughly 3% of the debenture amount, all financed through the loan. A secondary revenue stream comes from ongoing loan servicing for the full portfolio lifecycle, with payments processed through Wells Fargo Corporate Trust Services as the Central Servicing Agent.
DBF's go-to-market motion combines direct outreach by its three loan officers with a strong referral channel through partner banks and 12+ commercial real estate brokerages. The organization is governed by a 27-member Membership Board and is a sibling entity to the South Eastern Development Foundation (SEDF), both created by the parent South Eastern Council of Governments (SECOG). In 2025, DBF received the SBA 504 Lender of the Year award and launched the Rural Initiative Awards program, distributing $33,000 to six cities across its four-state region to incentivize SBA 504 loan activity in rural communities. The company does not develop proprietary technology — its platform is the SBA 504 program structure itself, with operational support from a standard CMS website and traditional back-office lending workflows.
Dakota BUSINESS Finance firmographics
Firmographics- Name
- Dakota BUSINESS Finance
- Legal name
- Dakota Business Finance
- Website
- https://dakotabusinessfinance.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Dakota Business Finance is a non-profit SBA Certified Development Company providing SBA 504 loans (10- to 25-year fixed-rate financing up to $5M) for small businesses in South Dakota, Minnesota, Iowa, and three Nebraska counties, partnering with 60+ banks and 12+ commercial brokers.
- Ownership category
- akta.pro rank
Dakota BUSINESS Finance industry classification
Industry- Product category
- Small Business Commercial Lending (SBA 504)
- NAICS
- Real Estate Credit (522292)
- SIC
- Miscellaneous Business Credit Institution (6159), Loan Brokers (6163)
- akta.pro primary industry
- SBA/Government-Backed & Development Finance Loans (FSAKAGAI)
- akta.pro secondary industry
- SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI)
Keywords
Where Dakota BUSINESS Finance is headquartered
LocationHeadquarters
- HQ city
- Sioux Falls
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Dakota BUSINESS Finance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- CDC Fee Income: Dakota Business Finance charges a CDC fee of 1.5% of the debenture amount, plus closing costs and an underwriting fee. These fees are financed through the SBA loan and built into the 504 debenture, financed 100% by SBA over the 10-, 20-, or 25-year loan period. Total fees approximately 3% of the debenture.
- Loan Servicing: Ongoing loan servicing for SBA 504 loans throughout the loan lifecycle. Servicing activities include processing loan payments via ACH through the Central Servicing Agent (Wells Fargo Corporate Trust Services), managing loan balances, payoffs, deferments, and annual requirements including tax statements and site visits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard SBA 504 Loan Rates (July 2026) |
| Subscription | Monthly | Manufacturer SBA 504 Loan Rates (July 2026) |
| One time/ perpetual license | Multi-year contract | SBA 504 Loan Limits |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Dakota BUSINESS Finance product offering
Product offeringCore offering
Dakota Business Finance operates as a non-profit SBA Certified Development Company (CDC) that originates and services SBA 504 loans for small businesses. The SBA 504 Loan Program provides long-term fixed-rate financing (10, 20, or 25 years) for commercial real estate construction, purchase, or renovation; equipment and machinery purchases; and refinancing of existing debt on long-term fixed assets. The program is structured as a partnership where private-sector lenders provide 50% financing, SBA/DBF provides 40%, and the borrower contributes 10% equity, with a maximum SBA loan amount of $5 million ($5.5 million for manufacturers or energy efficiency projects).
Product overview
Dakota BUSINESS Finance operates as a single product company offering the SBA 504 Loan Program. This program provides long-term fixed-rate financing through three sub-products: Building Construction/Purchase/Renovation Loans (10, 20, or 25-year terms), Equipment Purchase Loans (10-year term), and Refinance Existing Debt products. All loans follow a structure where private-sector lenders provide 50% financing, SBA provides 40%, and borrowers contribute 10% equity. The company also provides ancillary loan servicing for existing borrowers, but does not offer a technology platform, API, or SaaS product.
Differentiator
Problem solved
Functional benefit
Products and services
- SBA 504 Loan Program A U.S. Small Business Administration Certified Development Company (CDC) loan program that provides long-term fixed-rate financing for small businesses to construct, purchase, or renovate commercial buildings, install leasehold improvements, or purchase long-term machinery and equipment. Structured as a partnership where private-sector lenders provide 50% financing, SBA/DBF provides 40%, and the borrower contributes 10% equity.
- Building Construction, Purchase, or Renovation Loans SBA 504 loan product offering 10, 20, or 25-year fixed-rate financing for commercial property with a minimum 10% down payment. Suitable for constructing new buildings, purchasing existing buildings, or renovating commercial properties. The borrower's business must occupy at least 51% of the building.
- Equipment Purchase Loans SBA 504 loan product providing 10-year fixed-rate financing for equipment and machinery with a minimum 10% down payment. Designed for equipment with a useful life of 10 years or more, including manufacturing and specialty surgical equipment. Reduced rates available for manufacturers or energy efficiency projects.
- Refinance Existing Debt Loans SBA 504 loan product that helps businesses refinance existing debt with long-term, fixed interest rates. Can lend up to 90% loan-to-value on projects, with options for cash-out refinancing. Refinancing must be part of an eligible expansion project.
- Loan Servicing Ongoing SBA 504 loan servicing including balance inquiries, payoff processing, payment changes, subordination requests, deferments, insurance updates, and year-end statements for existing borrowers. Loan payments are processed via ACH through Wells Fargo Corporate Trust Services as the Central Servicing Agent.
Quantifiable outcome
- 2025 SBA 504 Lender of the Year award recipient
- +2 more outcomes
Companies that use Dakota BUSINESS Finance
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles3 records
Dakota BUSINESS Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Dakota BUSINESS Finance partnerships and signals
Strategic signalPartnerships
76 partnerships are on record, tiered core, primary and secondary.
- South Eastern Development Foundation (SEDF)coreSEDF is the sister organization of Dakota Business Finance, created by the same parent organization SECOG. SEDF serves as a regional revolving loan fund for southeastern South Dakota, providing loans in conjunction with bank financing. Together, DBF and SEDF offer complementary financing programs for businesses in the region.
- South Eastern Council of Governments (SECOG)coreSECOG is the parent organization that created both Dakota Business Finance and SEDF. It serves municipalities in the six southeastern counties of South Dakota and provides staffing for both DBF and SEDF.
- First Dakota National BankprimaryFirst Dakota National Bank is a primary lending partner, providing 50% financing for SBA 504 projects. Won 2025 Lender of the Year award from DBF.
- Wells Fargo Corporate Trust ServicescoreWells Fargo serves as the Central Servicing Agent (CSA) for all SBA 504 loans. Processes all SBA Loan Payments through their corporate trust services.
- Bank MidwestprimaryBank Midwest is a participating lender in the SBA 504 program, providing 50% of project financing. Has multiple locations across Iowa participating in the program.
- First Interstate BankprimaryFirst Interstate Bank is a participating lender in the SBA 504 program, providing 50% of project financing.
- Dacotah BankprimaryDacotah Bank is a participating lender in the SBA 504 program, providing 50% of project financing.
- First National Bank of OmahaprimaryFirst National Bank of Omaha is a participating lender in the SBA 504 program, providing 50% of project financing.
- 1st Financialsecondary1st Financial is a participating lender in the SBA 504 program.
- American Bank & TrustsecondaryAmerican Bank & Trust is a participating lender in the SBA 504 program.
- American State BanksecondaryAmerican State Bank is a participating lender in the SBA 504 program.
- Availa BanksecondaryAvaila Bank is a participating lender in the SBA 504 program.
- BankStar FinancialsecondaryBankStar Financial is a participating lender in the SBA 504 program.
- BankWestsecondaryBankWest is a participating lender in the SBA 504 program.
- Black Hills Community BanksecondaryBlack Hills Community Bank is a participating lender in the SBA 504 program.
- Black Hills FCUsecondaryBlack Hills Federal Credit Union is a participating lender in the SBA 504 program.
- Bremer BanksecondaryBremer Bank is a participating lender in the SBA 504 program.
- Central BanksecondaryCentral Bank is a participating lender in the SBA 504 program.
- Central MN Credit UnionsecondaryCentral MN Credit Union is a participating lender in the SBA 504 program.
- Clear Lake Bank & TrustsecondaryClear Lake Bank & Trust is a participating lender in the SBA 504 program.
- Compeer FinancialsecondaryCompeer Financial is a participating lender in the SBA 504 program.
- Cornerstone BanksecondaryCornerstone Bank is a participating lender in the SBA 504 program.
- CorTrust BanksecondaryCorTrust Bank is a participating lender in the SBA 504 program.
- Dakota Prairie BanksecondaryDakota Prairie Bank is a participating lender in the SBA 504 program.
- EastWest BanksecondaryEastWest Bank is a participating lender in the SBA 504 program.
- First Bank & TrustsecondaryFirst Bank & Trust is a participating lender in the SBA 504 program.
- First Independent BanksecondaryFirst Independent Bank is a participating lender in the SBA 504 program.
- First International BanksecondaryFirst International Bank is a participating lender in the SBA 504 program.
- First Premier BanksecondaryFirst Premier Bank is a participating lender in the SBA 504 program.
- First State Bank SouthwestsecondaryFirst State Bank Southwest is a participating lender in the SBA 504 program.
- First Western BanksecondaryFirst Western Bank is a participating lender in the SBA 504 program.
- Frontier BanksecondaryFrontier Bank is a participating lender in the SBA 504 program.
- Great Southern BanksecondaryGreat Southern Bank is a participating lender in the SBA 504 program.
- Heritage BanksecondaryHeritage Bank is a participating lender in the SBA 504 program.
- Hills BanksecondaryHills Bank is a participating lender in the SBA 504 program.
- Iowa Savings BanksecondaryIowa Savings Bank is a participating lender in the SBA 504 program.
- Iowa State BanksecondaryIowa State Bank is a participating lender in the SBA 504 program.
- Levo Credit UnionsecondaryLevo Credit Union is a participating lender in the SBA 504 program.
- Liberty National BanksecondaryLiberty National Bank is a participating lender in the SBA 504 program.
- Loft AdvisorssecondaryLoft Advisors is a participating lender in the SBA 504 program.
- Merchants State BanksecondaryMerchants State Bank is a participating lender in the SBA 504 program.
- MetaBanksecondaryMetaBank is a participating lender in the SBA 504 program.
- Minnwest BanksecondaryMinnwest Bank is a participating lender in the SBA 504 program.
- Northwest BanksecondaryNorthwest Bank is a participating lender in the SBA 504 program.
- One American BanksecondaryOne American Bank is a participating lender in the SBA 504 program.
- Peoples BanksecondaryPeoples Bank is a participating lender in the SBA 504 program.
- Pinnacle BanksecondaryPinnacle Bank is a participating lender in the SBA 504 program.
- Pioneer Bank & TrustsecondaryPioneer Bank & Trust is a participating lender in the SBA 504 program.
- Plains Commerce BanksecondaryPlains Commerce Bank is a participating lender in the SBA 504 program.
- Premier BanksecondaryPremier Bank is a participating lender in the SBA 504 program.
- Quoin FinancialsecondaryQuoin Financial is a participating lender in the SBA 504 program.
- ReliabanksecondaryReliabank is a participating lender in the SBA 504 program.
- Security BanksecondarySecurity Bank is a participating lender in the SBA 504 program.
- Security First BanksecondarySecurity First Bank is a participating lender in the SBA 504 program.
- Security National BanksecondarySecurity National Bank is a participating lender in the SBA 504 program.
- Security Savings BanksecondarySecurity Savings Bank is a participating lender in the SBA 504 program.
- Security State BanksecondarySecurity State Bank is a participating lender in the SBA 504 program.
- Sentinel Federal Credit UnionsecondarySentinel Federal Credit Union is a participating lender in the SBA 504 program.
- Service First FCUsecondaryService First Federal Credit Union is a participating lender in the SBA 504 program.
- State Bank of ChandlersecondaryState Bank of Chandler is a participating lender in the SBA 504 program.
- State Bank of LismoresecondaryState Bank of Lismore is a participating lender in the SBA 504 program.
- The First National Bank in Sioux FallssecondaryThe First National Bank in Sioux Falls is a participating lender in the SBA 504 program.
- Union Bank & TrustsecondaryUnion Bank & Trust is a participating lender in the SBA 504 program.
- Voyage FCUsecondaryVoyage Federal Credit Union is a participating lender in the SBA 504 program.
- The Accord TeamsecondaryThe Accord Team is a commercial real estate brokerage that refers clients seeking SBA 504 financing.
- Legacy DevelopmentsecondaryLegacy Development is a commercial real estate brokerage that refers clients seeking SBA 504 financing.
- Bender Commercial Real EstatesecondaryBender Commercial Real Estate is a commercial brokerage that refers clients seeking SBA 504 financing. Bradyn Neises, Principal, serves on DBF's Board of Directors.
- Lloyd CompaniessecondaryLloyd Companies is a commercial real estate firm that refers clients seeking SBA 504 financing. Jordan Rieffenberger, Director of Commercial Real Estate, serves on DBF's Board of Directors.
- Dunham CompaniessecondaryDunham Company is a commercial real estate brokerage that refers clients seeking SBA 504 financing.
- NAI Sioux FallssecondaryNAI Sioux Falls is a commercial real estate firm that refers clients seeking SBA 504 financing.
- Harr & Lemme CommercialsecondaryHarr & Lemme Commercial is a commercial real estate brokerage that refers clients seeking SBA 504 financing.
- Nelson Commercial Real EstatesecondaryNelson Commercial Real Estate is a commercial brokerage that refers clients seeking SBA 504 financing.
- Hegg CompaniessecondaryHegg Companies is a commercial real estate firm that refers clients seeking SBA 504 financing.
- VanBuskirk CompaniessecondaryVanBuskirk Companies is a commercial real estate firm that refers clients seeking SBA 504 financing.
- Jim Dunham & AssociatessecondaryJim Dunham & Associates is a commercial real estate brokerage that refers clients seeking SBA 504 financing.
- Vantis Real EstatesecondaryVantis Real Estate (VANTIS Commercial) is a commercial real estate firm that refers clients seeking SBA 504 financing. Amy Ibis received the 2025 Friend of DBF award.
Scale indicators3 records
Recent moves6 records
Expansion highlights3 records
Dakota BUSINESS Finance competitors and assessment
Company assessmentBroad incumbents
- National Association of Development Companies (NADCO): Industry trade association for all SBA 504 Certified Development Companies, including Dakota Business Finance. Directly comparable as the umbrella organization representing CDCs nationwide and setting program standards.
Others
- National Development Council: National economic and housing development organization that certifies CDC professionals (including DBF's CEO). Adjacent enabling organization shaping the SBA 504 ecosystem DBF operates in.
- South Eastern Council of Governments (SECOG): Parent organization of Dakota Business Finance and SEDF, providing staffing and governance. Relevant as the shared entity that anchors DBF's operational capacity.
- U.S. Small Business Administration (SBA): Federal agency that designates DBF as a Certified Development Company and guarantees the 504 debenture program. The enabling authority and counterparty for DBF's entire lending operation.
- South Eastern Development Foundation (SEDF): Sister organization of Dakota Business Finance, created by the same parent SECOG. Provides revolving loan funds for southeastern South Dakota — adjacent capital provider with complementary product and shared staffing.
Direct peers
- California Statewide CDC: California-based SBA 504 Certified Development Company offering 504 loans for small businesses. Direct CDC peer operating the same SBA program as Dakota Business Finance but at larger scale.
- Empire State Certified Development Corporation: New York-based SBA 504 Certified Development Company providing long-term fixed-rate financing for small business real estate and equipment. Direct peer operating the same SBA 504 program with a similar bank referral and CDC fee model.
- Florida First Capital Finance Corporation: Florida's largest CDC, providing SBA 504 loans for owner-occupied commercial real estate and equipment. Direct peer in the same SBA 504 program with similar fee structure and bank partnership model.
- Granite State Development Corp: New Hampshire-based SBA 504 Certified Development Company originating 504 loans for small businesses. Direct functional peer to Dakota Business Finance — same product, similar non-profit CDC structure, similar bank partnership model.
- Indiana Statewide CDC: Indiana-based SBA 504 Certified Development Company providing long-term fixed-rate financing through the same SBA program. Direct peer with comparable non-profit CDC structure and bank partnership model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights7 records
Customer concentration
Dakota BUSINESS Finance social profiles
Digital presenceDakota BUSINESS Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dakota BUSINESS Finance leadership team
Management profileNumber of profiles
Profiles12 records
Dakota BUSINESS Finance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dakota BUSINESS Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dakota BUSINESS Finance
What does Dakota BUSINESS Finance do?
Dakota Business Finance operates as a non-profit SBA Certified Development Company (CDC) that originates and services SBA 504 loans for small businesses. The SBA 504 Loan Program provides long-term fixed-rate financing (10, 20, or 25 years) for commercial real estate construction, purchase, or renovation; equipment and machinery purchases; and refinancing of existing debt on long-term fixed assets. The program is structured as a partnership where private-sector lenders provide 50% financing, SBA/DBF provides 40%, and the borrower contributes 10% equity, with a maximum SBA loan amount of $5 million ($5.5 million for manufacturers or energy efficiency projects).
Is Dakota BUSINESS Finance a public or private company?
Dakota BUSINESS Finance is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Dakota BUSINESS Finance founded?
Dakota BUSINESS Finance was founded in 2006. It employs 1 to 10 people.
Where is Dakota BUSINESS Finance based?
Dakota BUSINESS Finance is headquartered in Sioux Falls, United States, in the North America region.
How does Dakota BUSINESS Finance make money?
Two revenue lines are on record. CDC Fee Income is the primary driver. The others are loan Servicing.
Who are Dakota BUSINESS Finance's main competitors?
National Association of Development Companies (NADCO) is listed as a broad incumbent. Others are National Development Council, South Eastern Council of Governments (SECOG), U.S. Small Business Administration (SBA) and South Eastern Development Foundation (SEDF). Direct peers are California Statewide CDC, Empire State Certified Development Corporation, Florida First Capital Finance Corporation, Granite State Development Corp and Indiana Statewide CDC.
Does Dakota BUSINESS Finance have an API?
No public API is recorded for Dakota BUSINESS Finance.
What industry is Dakota BUSINESS Finance in?
Dakota BUSINESS Finance's product category is Small Business Commercial Lending (SBA 504). Its primary akta.pro industry code is FSAKAGAI, SBA/Government-Backed & Development Finance Loans, with a secondary code of FSAEAEAI, SBA/USDA Government-Backed Loan Intermediation. Its NAICS code is 522292 and its SIC code is 6159.