Overview
What is Dakota Business Lending?
Dakota Business Lending is a small business resource situated in Fargo, North Dakota. Acting as the leading SBA 504 lender in the state, they offer long-term, fixed-rate financing to small businesses, often struggling to secure traditional financing. Their mission is multifaceted, encompassing economic growth through unique financing opportunities, positively impacting communities, educating and guiding small businesses, and fostering a nurturing work environment for their team members. By providing stable capital to small businesses, Dakota Business Lending plays a crucial role in creating and retaining jobs, thereby contributing to the overall economic growth of the community.
Official website here: www.dakotabusinesslending.com
Is Dakota Business Lending legitimate?
Dakota Business Lending is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dakota Business Lending submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $270,934
Professional Fundraising Fees: $0
Other Salaries and Wages: $986,125
For more financial information, click here
Official website here: www.dakotabusinesslending.com
What is the mission statement of Dakota Business Lending?
Dakota Business Lending serves as a resource for small businesses, driving economic growth by offering unique financing opportunities, positively impacting the communities they serve, educating and guiding small businesses, and building partnerships that add value. They strive to create an environment where their team members thrive. Through the SBA 504 Program, they provide long-term, fixed-rate financing to small businesses, often those who struggle with traditional financing, aiming to create and retain jobs. Dakota Business Lending is recognized as the number one SBA 504 Lender in North Dakota, contributing significantly to the local economy.
Official website here: www.dakotabusinesslending.com
Who is the CEO of Dakota Business Lending?
Steve M Dusek is the Past Chairman of Dakota Business Lending. The CEO's salary of Dakota Business Lending is $206,642 and their total compensation is $242,046.
Official website here: www.dakotabusinesslending.com
What is the revenue of Dakota Business Lending?
Dakota Business Lending's revenue in 2022 was $2,699,017.
Official website here: www.dakotabusinesslending.com
Who are the executives of Dakota Business Lending and what are their salaries?
The average compensation at Dakota Business Lending during 2022 was $83,804. There are 15 employees at Dakota Business Lending.
Here are 11 key members and their salaries (Dakota Business Lending's CEO's salary is $206,642 and their total compensation is $242,046):
- Steve M Dusek (President & Ceo)
- Jim Hambrick (Chairman) [Trustee/Director]
- Jason Hopfauf (Director)
- Tonya Holmstrom (Vice-Chairman) [Trustee/Director]
- John Phillips (Director)
- Michael Connor (Director)
- Cole Keney (Director)
- Steve Gehrtz (Director)
- Kim Kautzman (Director)
- Dan Jacobson (Past Chairman) [Trustee/Director]
- Heather Ranck (Director)
Official website here: www.dakotabusinesslending.com
Where can I find the form 990 for Dakota Business Lending?
The Dakota Business Lending’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.dakotabusinesslending.com
Learn more at the official website: www.dakotabusinesslending.com
Mission Statement of Dakota Business Lending
Dakota Business Lending, as a small business resource, is committed to driving economic growth in various communities. They accomplish this through several key strategies. Firstly, Dakota Business Lending provides unique financing opportunities to small businesses, which can often struggle to secure traditional financing. This financial support is essential in fueling business growth and creating job opportunities.
Secondly, Dakota Business Lending strives to positively impact the communities they serve. By doing so, they contribute to the overall economic development and well-being of these communities.
Thirdly, Dakota Business Lending is dedicated to educating and guiding small businesses. They provide valuable expertise and resources, helping businesses navigate the complexities of financing and business operations.
Lastly, Dakota Business Lending values building partnerships that add value. They create an environment where their team members thrive, fostering a culture of collaboration and growth. This approach ensures that Dakota Business Lending is not just a financial institution, but a supportive resource for small businesses.
In summary, Dakota Business Lending's mission is to promote economic growth by offering unique financing opportunities, positively impacting communities, educating and guiding small businesses, and building valuable partnerships. Their commitment to these strategies allows them to support small businesses and contribute to the prosperity of the communities they serve.
Impact
This information is meant to be a general summary of Dakota Business Lending. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Dakota Business Lending is a driving force behind economic growth in the communities it serves. By providing unique financing opportunities, positively impacting local businesses, educating and guiding small businesses, and building valuable partnerships, Dakota Business Lending is making a significant impact. Through its SBA 504 Program, the organization has funded 61 loans in 2022 and a total of 1,158 loans to date, establishing itself as the number 1 SBA 504 lender in North Dakota. This program offers long-term, fixed-rate financing to small businesses, aiming to create and retain jobs by providing a stable capital source to those who may struggle to qualify for traditional financing. Dakota Business Lending's dedication to supporting small businesses and fostering economic growth is evident in its mission and ongoing efforts to strengthen the local community.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERVICING & PROCE
Revenue
$1,642,530
MANAGEMENT FEES
Revenue
$655,730
Organization Details
Founding Year
1996
Phone
(701) 293-8892
Principal Officer
Steve M Dusek
Main Address
5630 36TH AVE S, FARGO, ND, 58104
NTEE Category
Code: S30 - Community improvement
If you are a representative of Dakota Business Lending and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.