In fiscal years 2021–2026, 95 lenders made 822 SBA loans in South Dakota, totaling $352.6 million. The average loan was $428,981, and 47% went to startups or businesses under two years old.
By program: 506 7(a) loans, 316 SBA Express and 0 504 (counting both the CDC and partner bank on each project).
Top 10 most active SBA lenders in South Dakota
| # | Lender | SBA loans | Average | To startups | Programs |
|---|---|---|---|---|---|
| 1 | The First National Bank in Sioux Falls Sioux Falls, SD | 92 | $319,661 | 57% | 7(a), Express |
| 2 | Black Hills FCU Rapid City, SD | 87 | $231,283 | 68% | 7(a), Express |
| 3 | First Bank & Trust Brookings, SD | 73 | $656,344 | 29% | 7(a), Express |
| 4 | U.S. Bank, National Association Cincinnati, OH | 57 | $165,700 | 39% | 7(a), Express |
| 5 | First Interstate Bank Billings, MT | 48 | $524,794 | 56% | 7(a), Express |
| 6 | First National Bank Fort Pierre, SD | 33 | $280,470 | 24% | 7(a), Express |
| 7 | Highmark FCU Rapid City, SD | 33 | $122,970 | 52% | 7(a), Express |
| 8 | Wells Fargo Bank National Association Sioux Falls, SD | 33 | $392,621 | 79% | 7(a), Express |
| 9 | Northeast Bank Lewiston, ME | 30 | $143,017 | 7% | 7(a) |
| 10 | Pioneer Bank & Trust Belle Fourche, SD | 28 | $145,321 | 61% | 7(a), Express |
Lenders that fund the most startups in South Dakota
- Black Hills FCU — 59 startup loans (68% of its loans)
- The First National Bank in Sioux Falls — 52 startup loans (57% of its loans)
- First Interstate Bank — 27 startup loans (56% of its loans)
- Wells Fargo Bank National Association — 26 startup loans (79% of its loans)
- U.S. Bank, National Association — 22 startup loans (39% of its loans)
SBA loans by industry in South Dakota
- Restaurants & Lodging132 loans
- Construction115 loans
- Retail Stores105 loans
- Personal Services & Repair88 loans
- Health Care66 loans
- Manufacturing56 loans
- Trucking & Transportation51 loans
- Professional Services43 loans
- Cleaning, Landscaping & Admin41 loans
- Wholesale & Distribution30 loans
- Fitness & Entertainment23 loans
- Agriculture & Fishing21 loans
- Real Estate & Rental15 loans
Related guides
Frequently asked questions
Which lenders make the most SBA loans in South Dakota?
Based on public SBA data for fiscal years 2021–2026, the most active were The First National Bank in Sioux Falls, Black Hills FCU, First Bank & Trust. Also compare their average loan size and how much they lend to startups.
How many SBA loans were made in South Dakota?
822 SBA loans totaling $352.6 million in fiscal years 2021–2026, with an average of $428,981.
Can I get an SBA loan in South Dakota with a green card?
No. Since March 2026, all owners must be U.S. citizens or nationals for SBA 7(a) and 504 loans. CDFIs and some credit unions are good alternatives.
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Data: approved loans published by the SBA. Past lending does not guarantee your approval. We are not a lender and are not affiliated with the SBA.