Slatemont Capital Group, a small-business funding broker in Bismarck, North Dakota, lays out a readiness plan for North Dakota business loans: choose the structure, assemble records, check the state record and liens, then approach a bank or other partner. State-program details come only from official pages. Lenders decide and set every rate and term.
Start with the structure, not the lender
A loan for a machine, a loan for payroll and a loan for a fit-out are different products with different reviewers. Decide first which of the six funding options matches the purpose, because that decides which banks or partners are worth approaching.
Step 1: assemble the records
- Two to three years of business tax returns, and personal returns for each owner
- This year's profit and loss with a matching balance sheet
- Three to twelve months of business bank statements
- A debt schedule: every loan, lease and advance, with balances and payments
- Written quotes for each thing the loan buys
- For a larger request, a written business plan with projections
Our post on preparing a business plan for a bank loan covers the plan in detail.
Step 2: check your own state record
Lenders confirm that the business exists, is in good standing and uses the same legal name as its bank account. The FirstStop and annual report guide explains what they look for. A lien search of your own business, covered in the UCC guide in our guide library, shows what a lender will see.
Step 3: know your credit
Pull your personal credit reports and correct errors before applying. For small businesses, lenders usually review the owner's personal credit alongside the business record, and many ask for a personal guarantee.
Step 4: the bank conversation
Owners in North Dakota often search for 'bank of north dakota small business loans' and 'bank of north dakota loans'. Those searches usually reflect interest in state-supported lending. How any state program works, who applies and whether a local bank participates must be confirmed from the program's official pages and with the local lender itself; Slatemont does not arrange those programs and is not affiliated with them.
When you meet a lender, bring the records above, a one-page summary of the request, and the answer to three questions: what the money is for, how it will be repaid, and what happens if revenue dips.
Step 5: free advice before you apply
Small Business Development Centers offer free advising on plans, projections and loan packages. The Bismarck-Mandan resource list gathers the local options.
Where a Burleigh County, ND borrower stands
Lenders see many small borrowers here. 51.3% of Burleigh County's 3,218 employer establishments had fewer than five employees in 2023 (County Business Patterns), and 9.6% (+/- 1.1) of employed county residents were self-employed in 2020-2024, below the statewide 11.3% (+/- 0.4) (American Community Survey). A small business with clean, separate records stands out in that crowd.
Where a broker fits
Slatemont Capital Group is a broker, not a lender. When a bank or state program is not the right route, or not available in time, we can explain the other structures and introduce lending partners. Our process shows what that looks like.
Slatemont Capital Group is not affiliated with any government office, bank or advisory organization named or searched for on this page.
By Slatemont Capital Group · Updated