Ready to take your business to the next level? Apply for an SBA 504 loan or Revolving Loan Fund today! Our team is here to take the guesswork out of the application process by providing help and support every step of the way.
Start Your Application
Get started on the road to reaching your business goals by starting the application process today!
Initial Interview Meet with a member of the Ally Dakota team to review the details of your project and explore your financing options.
Application Submission Your Ally Dakota representative will guide you through the application process, including which forms and documentation are required to be submitted with your application.
Approval After your application is received, it will be submitted for approval to the Ally Dakota Board of Directors for their review. After approval from the Ally Dakota Board, you application will be reviewed by the SBA’s central processing center for final approval.
Closing Closing will be scheduled following the purchase of all assets or the completion of all project construction, which will include both the SBA 504 loan and the participating lender loan.
Funding Funding occurs after the loan closing. Funds are wire transferred directly to the participating lender, reducing the interim loan amount to the agreed lender portion. The rate on the SBA 504 loan is established at the time of funding.
Revolving Loan Fund Application Process
Initial Interview The approval process begins with a meeting between the borrower and/or lender, as well as an Ally Dakota representative, to review the details of the project.
Application Submission Based on the project parameters, Ally Dakota will outline the required documentation and forms the borrower needs to complete.
Ally Dakota Board Approval Once all application components are received, Ally Dakota will perform a review and present the loan request to the Ally Dakota Board of Directors for approval. Loan approval is typically received within 1-2 weeks of application.
Closing & Funding A closing will be scheduled following the purchase of all assets or the completion of all project construction. Funding will take place on the closing date.
Contact Ally
We’re always here to talk to you about your business and how we can help you grow.
