SBA data · South Dakota
SBA lending in South Dakota
3,632 loans worth $1.63B have been approved for South Dakota projects since FY2010 - the #42 state by SBA dollars, 0.3% of the national total.
State rank
#42
by dollars approved
Approved
$1.63B
FY2010 onward
Loans
3,632
Median loan
$215,000
+19% vs national
Median 7(a) rate
6.25%
Jobs supported
33,626
Lender-reported
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Who lends here
The most active SBA lenders in South Dakota
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in SD | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | Dakota Business Finance | $404.7M | 598 | $676,686 | |
| 2 | Ally Dakota Development, Inc. | $248.2M | 445 | $557,649 | |
| 3 | South Dakota Development Corporation | $110.7M | 163 | $679,258 | |
| 4 | Wells Fargo Bank | $94.3M | 283 | $333,088 | |
| 5 | First Interstate Bank | $77.8M | 242 | $321,626 | |
| 6 | The First National Bank in Sioux Falls | $56.2M | 182 | $308,675 | |
| 7 | First Bank & Trust | $56.2M | 89 | $631,069 | |
| 8 | Black Hills FCU | $42.0M | 259 | $162,067 | |
| 9 | Dacotah Bank | $28.4M | 78 | $364,536 | |
| 10 | Live Oak Banking Company | $28.2M | 17 | $1,661,412 | |
| 11 | Midwest Business Finance Corporation | $27.6M | 40 | $688,800 | |
| 12 | GBC International Bank | $25.9M | 12 | $2,154,167 |
By sector in South Dakota
- Restaurants & Hotels577 · $348.3M
- Retail364 · $199.3M
- Health Care340 · $141.7M
- Other Services386 · $126.7M
- Construction424 · $123.5M
- Wholesale138 · $90.1M
- Professional Services193 · $58.7M
- Arts & Recreation113 · $49.6M
- Agriculture86 · $47.1M
- Administrative & Waste139 · $43.8M
- Real Estate104 · $39.7M
- Transportation122 · $34.3M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in South Dakota. The final bar is a partial fiscal year.
Loan sizes in South Dakota
- Under $50K15%
- $50K - $150K23%
- $150K - $350K26%
- $350K - $1M25%
- $1M - $2M7%
- Over $2M4%
SBA lending in South Dakota: common questions
- How many SBA loans are approved in South Dakota?
- 3,632 SBA 7(a) and 504 loans totalling $1,625,425,600 have been approved for projects in South Dakota since fiscal year 2010, ranking it #42 among states and territories by dollars approved - 0.3% of all SBA lending nationally.
- Which lenders make the most SBA loans in South Dakota?
- By dollars approved in South Dakota, the most active lenders are Dakota Business Finance, Ally Dakota Development, Inc., South Dakota Development Corporation, Wells Fargo Bank, First Interstate Bank. Volume is not a recommendation - a lender's fit depends on your industry, loan size, and credit profile.
- What is the typical SBA loan size in South Dakota?
- The median gross approval in South Dakota is $215,000, 19% above the national median of $180,000. Half of all loans in the state fall between $25,000 and $1,045,000.
- Do I need to use a lender based in South Dakota?
- No. SBA lenders can and routinely do lend across state lines, and several of the largest national 7(a) lenders have no branch presence at all. The lenders listed on this page are those with the most approved dollars for projects located in South Dakota, wherever they are headquartered.
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
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