Michael Green,
Chairman & Founder,
Dakota Financial

Michael Green founded Dakota Financial with the goal of offering financing to businesses that may not qualify for conventional loans. The company prioritizes collateral and fraud detection over credit history alone, allowing it to provide funding in sectors where risk is often perceived as high.

Over the years, Dakota’s approach has remained largely unchanged. While economic shifts impact demand, the company continues to assess risk by evaluating equipment values and structuring transactions to protect both parties. This commitment to its core model has helped Dakota grow and enter Monitor’s Top 30 Private Independents.

LEVERAGING TECHNOLOGY FOR SMARTER FINANCING
As part of its ongoing efforts to improve efficiency and service, Dakota Financial has invested in technology solutions to streamline financing. One of its key innovations is Ask Frank, an SMS-based tool that allows customers to get answers to financing questions via text, eliminating the need for portal logins.

“A trucker doesn’t have time to log into a portal. With Ask Frank, they can text a question and get an instant response,” Green says. The system provides quick access to payment schedules, lease documents and other account details, making it easier for customers to manage their financing without unnecessary delays.

NAVIGATING INDUSTRY CHALLENGES
The transportation industry has experienced significant fluctuations in recent years. Equipment prices surged in 2022, then dropped sharply, leading to financial strain for many trucking businesses. These shifts resulted in higher default rates and increased bankruptcies across the sector.

According to Green, Dakota Financial has had to adjust while maintaining its structured approach. As some competitors have struggled or exited the market, Dakota has found opportunities to expand its presence. Being recognized as a Top Private Independent reflects the company’s ability to navigate industry challenges while maintaining stability.

A WORKPLACE CULTURE THAT DRIVES SUCCESS
Beyond its financial model, Dakota emphasizes a workplace culture focused on integrity and long-term employee retention. “Leadership is about being honest, direct and understanding how your words are perceived. If you treat employees with respect and create a supportive environment, they stay for the long haul,” Green explains.

Many of Dakota’s senior team members have been with the company for over two decades, which Green attributes to fostering trust and autonomy in the workplace. This continuity has played a role in the company’s success and its ability to consistently deliver strong service to brokers and customers. •

“Our business is simple: If we can secure enough collateral and ensure there’s no fraud, we should be okay. That’s been our model for 23 years.”

~Michael Green, Chairman & Founder, Dakota Financial