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County6th of 46 in South Dakota by approvalsFIPS 46011
SBA loans in Brookings County, South Dakota
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 42 loans to businesses in Brookings County, South Dakota, in FY2021 to FY2025, worth $19.0M: 28 under 7(a) and 14 under 504.
That is 43.8 approvals per 1,000 business establishments (958 establishments in 2023), close to the South Dakota figure of 42.5 and close to the national 41.0.
It ranks 6th of 46 South Dakota counties with approvals. In FY2025 there were 12.
15 lenders had approvals here; the most active were First Bank & Trust (15), Ally Dakota Development, Inc. (9) and Dakota Business Finance (3). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Brookings County
By number of approvals to businesses in the county, FY2021–FY2025; 15 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | First Bank & TrustBrookings, SD | 15 | $6.6M | 35.7% | |
| 2 | Ally Dakota Development, Inc.Rapid City, SD · CDC | 9 | $4.2M | 21.4% | |
| 3 | Dakota Business FinanceSioux Falls, SD · CDC | 3 | $1.5M | 7.1% | |
| 4 | South Dakota Development CorporationSioux Falls, SD · CDC | 2 | — | 4.8% | |
| 5 | First Interstate BankBillings, MT | 2 | — | 4.8% | |
| 6 | U.S. Bank, National AssociationCincinnati, OH | 2 | — | 4.8% | |
| 7 | Northwest BankSpencer, IA | 1 | — | 2.4% | |
| 8 | The First National Bank in Sioux FallsSioux Falls, SD | 1 | — | 2.4% | |
| 9 | BayFirst National BankSaint Petersburg, FL | 1 | — | 2.4% | |
| 10 | Dacotah BankAberdeen, SD | 1 | — | 2.4% | |
| 11 | One American BankCenterville, SD | 1 | — | 2.4% | |
| 12 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.4% | |
| 13 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 2.4% | |
| 14 | Pathward National AssociationSioux Falls, SD | 1 | — | 2.4% | |
| 15 | Wells Fargo Bank National AssociationSioux Falls, SD | 1 | — | 2.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 9 | 21.4% | |
| 2 | Water, Sewage and Other SystemsNAICS 2213 | 3 | 7.1% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 4.8% | |
| 4 | Other Fabricated Metal Product ManufacturingNAICS 3329 | 2 | 4.8% | |
| 5 | Building Finishing ContractorsNAICS 2383 | 2 | 4.8% | |
| 6 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 2 | 4.8% | |
| 7 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 4.8% | |
| 8 | Personal and Household Goods Repair and MaintenanceNAICS 8114 | 2 | 4.8% | |
| 9 | Architectural, Engineering, and Related ServicesNAICS 5413 | 2 | 4.8% | |
| 10 | Personal Care ServicesNAICS 8121 | 2 | 4.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 9 | 21.4% | |
| 2 | Construction | 8 | 19.0% | |
| 3 | Other Services (except Public Administration) | 5 | 11.9% | |
| 4 | Manufacturing | 3 | 7.1% | |
| 5 | Retail Trade | 3 | 7.1% | |
| 6 | Professional, Scientific, and Technical Services | 3 | 7.1% | |
| 7 | Utilities | 3 | 7.1% | |
| 8 | Arts, Entertainment, and Recreation | 2 | 4.8% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 5 | $4.5M | $564K | 1 | — | 6 | 108 |
| FY2025 | 10 | $5.1M | $522K | 2 | — | 12 | 253 |
| FY2024 | 7 | $2.6M | $129K | 2 | — | 9 | 111 |
| FY2023 | 6 | $1.8M | $225K | 0 | — | 6 | 41 |
| FY2022 | 4 | $898K | $122K | 5 | $4.1M | 9 | 35 |
| FY2021 | 1 | — | — | 5 | $2.3M | 6 | 36 |
| FY2020 | 2 | — | — | 2 | — | 4 | 18 |
| FY2019 | 3 | $425K | $26K | 2 | — | 5 | 22 |
| FY2018 | 1 | — | — | 3 | $1.1M | 4 | 15 |
| FY2017 | 3 | $396K | $150K | 1 | — | 4 | 40 |
| FY2016 | 5 | $150K | $20K | 3 | $2.2M | 8 | 34 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 25 approvals.
Against South Dakota and the country
| FY2021–FY2025 | Brookings County | South Dakota | United States |
|---|---|---|---|
| Approvals | 42 | 1,237 | 342,825 |
| Approvals per 1,000 establishments | 43.8 | 42.5 | 41.0 |
| Median 7(a) approval | $243K | $150K | $190K |
| Median 504 approval | $507K | $463K | $657K |
| Average approval | $453K | $560K | $573K |
| 504 share of approvals | 33.3% | 40.5% | 11.0% |
| Jobs supported per approval, as reported | 11.3 | 9.0 | 10.5 |
| Share of state approvals | 3.4% | 100.0% | — |
Approval sizes
- $50,000 or less11.9%5
- $50,001 to $150,00019.0%8
- $150,001 to $350,00014.3%6
- $350,001 to $1 million50.0%21
- $1 million to $2 million4.8%2
Age of the businesses
- Existing, more than 2 years old54.8%23
- New business, 2 years or less16.7%7
- Startup, loan funds will open the business11.9%5
- Change of ownership16.7%7
Questions and answers
Which lenders make the most SBA loans in Brookings County?
By approvals in FY2021 to FY2025: First Bank & Trust (15), Ally Dakota Development, Inc. (9), Dakota Business Finance (3), South Dakota Development Corporation (2), First Interstate Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Brookings County?
The median 7(a) approval was $243K and the median 504 approval $507K; the South Dakota 7(a) median was $150K.
Which industries get the most SBA loans in Brookings County?
Restaurants and Other Eating Places (9); Water, Sewage and Other Systems (3); Other Amusement and Recreation Industries (2); Other Fabricated Metal Product Manufacturing (2); Building Finishing Contractors (2).
Is SBA lending in Brookings County rising?
Approvals in the three latest complete fiscal years total 27, against 19 in the three before: rising (+42%).
How does Brookings County compare with the rest of South Dakota?
43.8 approvals per 1,000 establishments against 42.5 statewide, and 42 of the state's 1,237 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error