Dakota Business Lending is pleased to welcome Scott Schake to its team as Portfolio Manager. Based in the Fargo office, Schake will be responsible for ensuring compliance with all agency rules and regulations and managing the organization’s overall loan portfolio from closing/funding to repayment. He will also work to respond to all maintenance-related inquiries and oversee all required compliance and credit needs.
Originally from western Minnesota, Schake has spent most of his career in lending and economic development and brings with him more than 18 years of experience in a 504-certified development company like Dakota Business Lending, 10 years in the commercial bank and eight years as the owner of an SME. He joined the Dakota Business Lending team to help manage their portfolio, offer his expertise, and help provide financing opportunities to small businesses in North Dakota, Montana, and western Minnesota. He was drawn to the organization because of its mission-driven mindset and tight-knit team and looks forward to helping grow and expand its impact. In his spare time, Schake enjoys spending time with his wife and two daughters at their lakeside cabin in Otter Tail County.
Founded in 1982, Dakota Business Lending is the oldest, largest and most experienced 504 CDC in North Dakota. With staff throughout North Dakota and Montana, Dakota Business Lending serves North Dakota, Montana and five western Minnesota counties. The mission of this private, not-for-profit entity is to provide small business financing solutions through collaborative partnerships in a supportive and creative environment that grows the economy and creates or maintains quality jobs. Since its inception, Dakota Business Lending has provided more than $550 million in loans, with a total project impact of over $1.2 billion, to small businesses and local economies.