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.

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SBA data · South Dakota

SBA lenders 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.

National leaderboard

#	Lender	Approved in SD	Loans	Avg loan
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

An SBA 7(a) lender for loans this size

64% of the SBA loans approved in South Dakota since FY2010 were under $350,000. SmartBiz makes SBA 7(a) loans up to $500,000. It is shown here as a separate, labelled option, outside the data rankings on this page. You apply on their site - we do not take applications and never see your information.

Check options with SmartBiz

We may be paid if you apply through this link. It does not change what we publish, and no lender can buy a place in our rankings. Details.

By sector in South Dakota

Most-financed industries

Industry	Loans	Share
Hotels (except Casino Hotels) and Motels	124
Full-Service Restaurants	113
Limited-Service Restaurants	107
General Automotive Repair	70
Offices of Chiropractors	67
Child Care Services	64
Fitness and Recreational Sports Centers	54
Landscaping Services	51
All Other Specialty Trade Contractors	51
Drinking Places	49

Approvals by fiscal year

’10

’12

’14

’16

’18

’20

’22

’24

’26

Gross approval dollars in South Dakota. The final bar is a partial fiscal year.

Loan sizes in South Dakota

Under $50K
15%
$50K - $150K
23%
$150K - $350K
26%
$350K - $1M
25%
$1M - $2M
7%
Over $2M
4%

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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