Dakota West CARES

2020 will certainly be remembered as a year of news updates and constantly changing headlines, so when we can grab on to the aspects of everyday life that remain consistent and calming, we steady ourselves and keep focused on what matters most.  For Dakota West, we find stability in serving our members with quality loans regardless of the financial climate.

In fact, updates about small business loans made through the CARES Act, and specifically the SBA Paycheck Protection Program (PPP), may stir up news nationally, but in our communities, Dakota West is proud to have helped dozens of small businesses through the economic impacts of COVID-19.  The headlines won’t boast of the entrepreneurs throughout western North Dakota who are keeping employees paid, businesses humming, and lights on for their customers, but we thank our members, both new and long-time, who know they can find a partnership with Dakota West.

If you are experiencing lingering questions about how the ever-changing scenarios in our region are impacting your family, your business, or your finances, reach out to one of our loan officers.  Let us continue to strengthen the relationship we’ve developed with you as a member of Dakota West.  We are committed to your success in good times, in uncertain times, and whenever you need us.

Meet Todd Erickson

“I remember as a kid, they always had cookies.  Getting to town was a big deal.”

Todd Erickson, our newest Loan Officer, recalled his first visits to his parents’ financial institution when they lived out in the country between Medora and Amidon in southwestern North Dakota.  Now Todd is creating new memories for our members in our Washburn branch.

Todd attended Minot State University, studying Finance, Accounting, Economics, and Real Estate Finance and interning with a credit union before graduating with his Bachelors of Science in Business Administration.  He attended high school in New England, giving him a nearly full-circle tour of the Dakota West region.

As a Loan Officer supporting agriculture and commercial accounts, Todd is already making the introductions throughout McLean County, as best as he can while keeping social distancing in mind.  Nonetheless, his office door is already open and he is looking forward to the day when he can visit our members at their farms, or share a cup of coffee at Café 77.

For now, you can reach Todd at 701.444.7347 to schedule time to talk about your business, review your family’s financial plan, discuss a new boat loan, or even welcome him to the neighborhood – cookies optional.

Relief Programs For Our Business Members

In support of our small business members, Dakota West is working with the Small Business Administration (SBA) to assist you in navigating the SBA Paycheck Protection Program (PPP) as part of the CARES Act during this economic impact of the COVID-19 virus.

For many businesses, the first step is reaching out to your Dakota West Loan Officer.  To find out more about the various financial resources available to businesses, you may link directly to the North Dakota Business and Employer Resources page.

Determining which loan process would best fit your business’ or non-profit organization’s needs may depend on what expenses you need to cover.  In addition to the PPP, many small businesses are also eligible for the Small Business Disaster Relief Program/Economic Injury Disaster Loan (EIDL).

The state of North Dakota developed a useful, side-by-side comparison of the PPP and EIDL programs to help determine which program best fits your needs.  Businesses may be eligible for both programs.

Here in North Dakota, the ND Response website offers useful information for businesses and individuals who want to learn more about issues from insurance to day care, from tribal resources to ways you can help others.  Our members may also find answers to many Frequently Asked Questions through the North Dakota resource website.

To begin the loan application process, visit the Small Business Administration website.  Please explore these resources at all phases of the application process as more information continues to become available, and to help you in gathering all the materials you and your loan officer will need.  We value the trust you place in us, especially during these new and unusual circumstances.

We've Got A Loan For That

Dakota West offers a wide range of loans designed to meet the needs of individuals, families, and businesses.

Ag and Ranch Loans

Business Loans

Home Mortgages

Personal Loans

Vehicle Loans

Click on the type of loan you're considering to discover more, or call 800.411.7590 to speak to a loan officer today.

We are an equal housing lender.

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