KodaBank
KodaBank is an active SBA lender in North Dakota, a bank offering SBA-guaranteed small-business loans. Currently rated 3.7 stars across 3 Google reviews.
$15M
in SBA approvals since 2010
21
SBA loans funded
Manufacturing · General Retail · Fitness & Recreation
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About KodaBank
KodaBank offers comprehensive SBA lending solutions tailored to small businesses seeking financial growth and stability. With a focus on supporting local entrepreneurs, this bank provides access to SBA 7(a) loans that can help fund various business needs, including working capital, equipment, and expansion projects. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. Located in Drayton, North Dakota, KodaBank is committed to serving the financial needs of its community with personalized service and competitive rates. Whether you're a startup or an established business, they aim to facilitate your growth with flexible lending options and expert advice. Their SBA programs are designed to help small businesses access capital efficiently, fostering economic development in the region. With a record approval amount of up to $234,000, KodaBank is a reliable partner for your business financing needs, emphasizing local support and tailored financial solutions.
Serves SBA borrowers in 2 states
KodaBank has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Common questions about KodaBank
What is this place and what can I find here?
This is a local bank offering SBA loan programs and small business financing solutions to support regional entrepreneurs and business owners.
Do I need an appointment or can I walk in?
You can walk in during business hours or schedule an appointment for personalized assistance with your SBA loan application.
What are the hours of operation?
The bank operates Monday through Friday from 8:30 AM to 5:00 PM, with additional hours by appointment.
Is there a fee to use this?
There are standard SBA application and closing fees, but no additional charges for consultation or initial inquiries.
Who is this open to — anyone, or only residents/members?
This bank primarily serves residents and small business owners within the regional community, but others may inquire about services.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 620 is generally required for SBA loan guarantors.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes 30 to 45 days, depending on the completeness of the application and documentation.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and KodaBank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call KodaBank to confirm current weekend availability before you go.
How do I get there and where do I park?
KodaBank is located in North Dakota — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for KodaBank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by KodaBank itself, which runs its own lending under its own ownership. If you work at KodaBank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for KodaBank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with KodaBank before applying. If you represent KodaBank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach KodaBank by phone at (701) 454-3317 or online at kodabank.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with KodaBank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, KodaBank can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask KodaBank directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether KodaBank participates in SBA Express depends on its specific SBA lending authority. Contact KodaBank and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. KodaBank can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. KodaBank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask KodaBank directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask KodaBank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask KodaBank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with KodaBank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. KodaBank weighs this case by case under its own policy, so be upfront about your history and ask KodaBank how it evaluates prior bankruptcies.
