Business financing in Morton County.

Business financing is money you borrow — or sometimes receive as a grant — to start, grow, or stabilize a business. It can cover equipment, inventory, a commercial building, working capital between jobs, or a rental property you want to improve.

Financing comes in several forms:

- **Term loans:** You borrow a fixed amount and repay it in regular installments over months or years.

- **Lines of credit:** A revolving pool of money you draw from as needed and repay on a flexible schedule — useful for contractors who have gaps between project payments.

- **SBA-backed loans:** Loans made by local lenders but partially guaranteed by the U.S. Small Business Administration, which lets lenders approve borrowers who might not qualify for a conventional loan alone.

- **Microloans:** Smaller loans (often under $50,000) designed for newer or smaller businesses, frequently offered by nonprofit lenders called CDFIs.

- **Grants:** Money you do not repay, usually tied to a specific purpose such as rural development, agriculture-adjacent business, or energy efficiency.

For most small business owners in Morton County, the starting point is a relationship with a local lender who understands the regional economy — not a large national bank or an online lender you found in an advertisement.

Morton County sits just west of Bismarck, the state capital, along the Missouri River. The county's economy is shaped by a mix of agriculture, energy (oil and gas services, pipeline-related work), government contracting, construction, and small retail and service businesses that serve the Mandan–Bismarck metro area.

That mix matters when you apply for financing because lenders look at your industry, your revenue stability, and local market conditions.

**You may be a strong candidate for a business loan if you:**

- Have been operating for at least one to two years with verifiable income (tax returns, bank statements)

- Work in construction, ag-services, energy services, trucking, or a trade that has consistent demand in the Bismarck–Mandan corridor

- Have a business bank account separate from your personal account

- Have a credit score of 620 or above (though CDFI and microloan programs can go lower)

- Can show a clear purpose for the funds — equipment purchase, property improvement, working capital

**You may still qualify even if:**

- You do not have a Social Security Number — many local lenders and CDFIs accept an ITIN (Individual Taxpayer Identification Number)

- Your business is newer (under two years) — microloan programs and CDFIs are built for this

- Your credit is imperfect — some programs focus on your cash flow and business plan rather than credit score alone

- You are a sole proprietor or an LLC with just one or two people

Seasonal businesses (farming-support services, outdoor contractors) should be prepared to explain their revenue cycle to a lender — this is normal and not a disqualifier.

Every lender has its own checklist, but the following documents come up almost every time. Gathering these before you apply will save you significant time.

**For the business:**

- Last two to three years of business tax returns (or one year if you are newer)

- Recent profit-and-loss statement and balance sheet (your accountant or bookkeeping software can produce these)

- Three to six months of business bank statements

- Business license or registration from the North Dakota Secretary of State

- Any existing lease agreements or contracts that show ongoing revenue

- A brief written description of how you will use the loan and how you plan to repay it (often called a loan purpose statement or simple business plan)

**For you personally:**

- Two years of personal tax returns

- Government-issued photo ID

- If you use an ITIN instead of an SSN, bring your ITIN letter from the IRS and any supporting ID (consular ID, passport)

- Personal financial statement (a one-page list of what you own and owe)

**For real-estate or property loans, add:**

- Most recent property tax statement

- Lease agreements if the property has tenants

- Appraisal or comparable sales (some lenders order this themselves)

Tip: If your records are not organized yet, a local CDFI or Small Business Development Center (SBDC) can sit with you and help you prepare — at no charge.