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In This Issue Small Business Resiliency The 411 on the 504 10 Advantages of Veteran Business Owners Supporting Small Businesses - Why and How Resources for Women Business Owners The Power of Partnerships dakotabusinesslending.com VOLUME 1 - ISSUE 1 - MARCH 2022Designed to ACTIVATE: Everyone has a reason for getting up and going to work each day. For many, it may be the financial benefit or the ability to support a family. For others, it may be a passion for the company they work for or the product or service they sell. Some may even say it is the ability to work for something bigger than themselves. For us at Dakota Business Lending, it is the opportunity to walk alongside so many small businesses on their journey to success. Whether it is providing support as they navigate the ins and outs of small business ownership, connecting them with resources and tools to help them along their business journey, or finding creative financing solutions to help them take their business to the next level, we get to play a small part in the success stories of so many small business owners and help them find the answers they need to succeed. It is because of these amazing stories of inspiring business leaders that we decided to create ACTIVATE magazine: a magazine dedicated to joining small businesses on their journey as they work to find solutions and grow their business. In this magazine, you can find information about various resources, business programs, financing options, and other successful businesses that will help you ACTIVATE your business and take it to the next level. We look forward to serving small businesses in this new and unique way. - Dakota Business LendingTable of Contents Meet the Dakota Business Lending Team ..................................................................... 3 Supporting Small Business - Why and How? .............................................................. 5 Small Business Spotlight: Craig’s Small Engine Repair ............................................. 7 Ask Dakota Business Lending .......................................................................................... 9 Responding to Crisis ........................................................................................................... 11 Introducing Our Resource Partners ................................................................................. 13 Resource/Tool Spotlight .................................................................................................... 14 The 411 on the 504 .............................................................................................................. 15 Small Business Spotlight: Woodland Resort ................................................................ 17 Partnerships, Power, and Potential ................................................................................ 19 From Doing to Leading: The Art of Delegation ............................................................ 21 Meet Our DBL Board of Directors: Mike Connor .......................................................... 23 Small Business...BIG Impact ............................................................................................ 24 Help for Heroes: Resources Available to Veteran Business Owners ....................... 25 Small Business Spotlight: Spika Design & Manufacturing ........................................ 27 The Inside Scoop on the WBC .......................................................................................... 29 Setting the Record Straight: Resources for Women Business Owners ................... 31 More Than Just the Numbers ........................................................................................... 33 What’s New with the ACTIVATE U Podcast .................................................................. 343 | March 2022 Kaitlyn Wiebusch Position: Marketing Specialist Time at DBL: 5 Years A recent graduate of the University of Mary with a degree in marketing, Kaitlyn uses her knowledge and experience to increase awareness of the organization to those who need it most. Katie Anderson Position: Closing Officer Time at DBL: 4 Years Katie joined the team with 20+ years of experience in the banking and credit union world and is rewarded by the ability to make a difference in the lives of small business owners every day. Steve Dusek Position: President & CEO Time at DBL: 11 Years Steve has been at the helm of Dakota Business Lending since 2010 after leading Prairieland CDC in Minnesota for 15 years and has led the organization through many exciting milestones. Roxi Pfliiger Position: VP/Sr. Business Development Officer Time at DBL: 7 Years Roxi’s 25 years of business management experience in retail, telecommunications, manufacturing, and commercial lending helps her see things uniquely and get the most complex projects approved. Emily Schroeder Position: Business Development/Commercial Loan Officer Time at DBL: 6 Years Emily’s previous work in banking, loan servicing, philanthropy, grant making, and advertising sales has fueled her to work with people and help them solve problems in new and creative ways. Christie Williams Position: Business Development/Commercial Loan Officer Time at DBL: 3 Years After originally joining our team in 2012 for 3 years, Christie was welcomed back in 2018 to jumpstart the 504 Rural Pilot program in rural Montana and currently serves the entire state.Lexi Hendricks Position: Loan Assistant Time at DBL: 10 Months A recent graduate from Missouri State University, Lexi’s ability to thrive on new experiences (such as moving to ND to be closer to family) and dive into the unknown brings out the best in the entire team. Paige Naylor Position: Credit & Underwriting Specialist Time at DBL: 2 Years Paige has always been a part of the business and finance industry. When it comes to challenging loans, Paige and her experience come to the rescue to solve the problem. dakotabusinesslending.com | 4 Anjie Martins Position: Sr. Credit Analyst Time at DBL: 1 Year Born and raised in Montana, Anjie has been assisting small businesses her entire career. With 15+ years in the business banking and financing industry, she works to expand our financing programs in Montana. Ann Peterson Position: VP/Loan Operations Time at DBL: 6 Months Ann has 35+ years of economic development and SBA 504 / 7(a) lending experience, 22 of which were at a 504 CDC like us, and a deep passion for helping small businesses achieve their dreams. Jason Gerdes Position: Business Development/Commercial Loan Officer Time at DBL: 6 Months Jason has spent over 16 years working in a 504 certified development company like Dakota Business Lending and loves to help pave the way for small businesses. Rochelle Cross Position: Loan Specialist Time at DBL: 6 Months Rochelle provides a high level of administrative support to the team, particularly in loan processing. Her passion and desire to make an impact on state and local economies is a perfect match for our team. Scott Schake Position: Portfolio Manager Time at DBL: 1 Month Scott has spent the majority of his career in lending and economic development, 18 years of which were spent at a 504 CDC, bringing valuable knowledge and expertise to our organization and borrowers. Abby Dusek Position: Office Manager & Loan Assistant Time at DBL: 1 Month Abby is responsible for providing administrative support to the organization. Her ability to keep the office running smoothly and assist with day-to-day loan servicing allows the entire team to thrive. Supporting Small Business Why and How You hear it said over and over – “You should support small business”. You see the little stickers in every downtown window – “Shop Small.” There is even a day dedicated to it - “Small Business Saturday.” But why is it so important? And what does it really mean to support small business? Small businesses are invested in you and your community. Small businesses are usually locally owned companies that have personal investment in your community and prioritize supporting it in any way they can. They are the businesses that donate pizzas for your kids’ soccer game, sponsor various causes, events, and organizations, and participate in community events. When you support a small business, it is likely that you know who you are supporting, what they stand for, and the ways in which they make your community unique. By shopping or utilizing their services, you are giving back to the people and businesses that help your community each and every day. Small businesses typically provide better and more personalized customer service. Think of the small businesses in your city. Some may know you by name. Some may give you the opportunity to place an order or talk to a representative personally. Some may even go to extraordinary means to show you that you are a valued customer that they do not want to lose. More often than not, this is the kind of service you will receive from a local small business as opposed to a large corporation. And for most people, supporting businesses who treat you well is easy to do. Small businesses improve your community’s overall well-being. There are many ways that small businesses improve your community’s health, well-being, and local economy. First, they spark innovation and entrepreneurship, putting unique spins on products and services and providing more opportunities for community members to make their lives better. They also create meaningful jobs for the communities that they are in, providing work to families throughout the area at a place where they are empowered to help their community. Lastly, when a customer buys locally, more money stays in the community as compared to larger corporations. By shopping small, you are helping your friends, your communities, and your economy thrive! Many people do not realize just how impactful shopping small and supporting small business can be. Here are just a few benefits shopping small brings to you, your community, and your local economies. 5 | March 2022But where do you even begin? Here are just a few simple ways that you can support your local business right now. • Purchase a gift or gift card for a friend from a local gift shop • Join a local gym or participate in a virtual fitness/yoga class • Service your car at your local mechanic • Leave a positive review on a local business’s Facebook page • Visit your Farmer’s Market for fresh produce or shop at your local grocery store • Try the menu at your local restaurant as opposed to a larger chain • Visit a local nursery or garden center for your landscaping needs • Purchase lemonade from your neighbor’s kid’s lemonade stand The possibilities are endless! The next time you see the “Shop Small” signs in the window downtown, you will understand why shopping local is so important. Consider shopping small and be a part of supporting your community and celebrating small businesses in this unique (and fun!) way. dakotabusinesslending.com | 6Small Business Spotlight: Craig’s Small Engine Repair Craig Helberg has always had a knack for fixing and repairing things. Even as a child, he was constantly taking things apart, figuring out how they work, and putting them back together. It wasn’t until many years later, when he had a wife and family of his own, that he realized this was more than just a hobby, but a talent and passion that would drive him throughout his life. Craig’s Small Engine Repair began in an on-site bay at a rental and service shop Craig had been working at with just his homemade bench and tool chest. It wasn’t much, but it was all Craig needed to do what he loves. “We didn’t have a bathroom; we didn’t have windows; all we had was 4 walls…but that’s all we needed.” This business, created to simply provide for the family, soon became much more than that. As Craig’s business began to expand and grow, he decided to invite his wife, Rena, and his 12 children into this endeavor. Craig and Rena, along with their children, decided to take a broader approach, focusing on engineering, installing, designing, warranty, manufacturing, repairing, diagnosis, and everything in between. Today, they have expanded their services even more, providing education on several of their products and certifying their business as a STIHL Service and Warranty Center. It wasn’t long until Craig’s Small Engine Repair until he found himself stuck in a facility far too small for their services and customer base. With careful thought and prayer, Craig and his family decided to take a leap forward in their business and pursue the opportunity to expand and build a building of their own. The only major setback throughout this entire expansion project was financing. Eventually, Craig partnered with Dakota Business Lending and First National Bank & Trust to secure an SBA 504 loan. This loan offered Craig’s Small Engine Repair the fixed, below-market, long-term interest rates that they needed to make this expansion possible. “This program helped us realize that, what we had considered as just having some dirt and some dreams, was going to be possible,” Craig and Rena explained. 7 | March 2022Working through one of the coldest winters and wettest springs in ND, Craig and his family began building their new facility from the ground up. In just under 5 years, they were able to have their grand opening on Craig’s Small Engine Repair’s 30th anniversary. Since the expansion, business has continued to increase with the modest growth it has historically shown throughout its three decades in business. “It was a long, hard road to get here…but it was a good move for us. We are streamlining things so we can handle more equipment and not get so backlogged…. we’re pleased in every respect,” Craig and Rena said with a smile. And it appears that the community agrees. The city of Williston been extremely supportive, and the additional space truly is what Craig and his crew really needed to take their business to the next level. “We’re so thankful for the people of Williston and the surrounding community of northeastern Montana and northwestern North Dakota,” Rena said gratefully. “ They have been sticking with us for 31 years now and providing us with the opportunity to serve them.” In 2017, Craig’s Small Engine Repair was awarded Existing Small Business of the Year. While the interaction with the community is one of Craig and Rena’s favorite part of the business, they both agreed that there’s nothing that can beat working as a family. “It’s probably not for everybody and you have to be able to resolve conflict and be honest…” Rena explained, “but it’s a great opportunity for both personal and family growth.” When asked to share any words of wisdom, Craig and Rena stressed one key piece of advice: to find your God-given talent and work hard to use and share that gift with others. “We could not have done this by ourselves by any means. It’s a God-given talent…” Craig explained. “Do something you have a gift for and that you enjoy doing. Then, just have faith and know you will make it.” Craig, Rena, and their family look forward to many more years of serving the community of Williston and beyond. They like the pace they are growing at and love the work they do. “We hear all the time that people are just glad we’re here. We’re happy to be able provide for the community. We’re been here for many years and it’s something that we want to continue doing as long as we can.” For more information on Craig’s Small Engine Repair and they services they provide, visit their website. https://craigssmallenginerepair.stihldealer.net dakotabusinesslending.com | 8Next >