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County5th of 46 in South Dakota by approvalsFIPS 46029
SBA loans in Codington 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.
Businesses in Codington County, South Dakota, received 52 SBA loan approvals worth $38.6M in FY2021 to FY2025 (36 7(a), 16 504).
That is 43.0 approvals per 1,000 business establishments (1,210 establishments in 2023), close to the South Dakota figure of 42.5 and close to the national 41.0.
It ranks 5th of 46 South Dakota counties with approvals. In FY2025 there were 6, down 65% on FY2024.
20 lenders had approvals here; the most active were Ally Dakota Development, Inc. (10), Red River State Bank (5) and First Bank & Trust (5). The most common industry was machinery, equipment, and supplies merchant wholesalers.
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 Codington County
By number of approvals to businesses in the county, FY2021–FY2025; 20 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Ally Dakota Development, Inc.Rapid City, SD · CDC | 10 | $4.2M | 19.2% | |
| 2 | Red River State BankHalstad, MN | 5 | $7.6M | 9.6% | |
| 3 | First Bank & TrustBrookings, SD | 5 | $6.5M | 9.6% | |
| 4 | Wells Fargo Bank National AssociationSioux Falls, SD | 5 | $2.2M | 9.6% | |
| 5 | Dakota Business FinanceSioux Falls, SD · CDC | 4 | $4.4M | 7.7% | |
| 6 | Celtic Bank CorporationSalt Lake City, UT | 3 | $4.1M | 5.8% | |
| 7 | BankWest, IncPierre, SD | 3 | $1.4M | 5.8% | |
| 8 | South Dakota Development CorporationSioux Falls, SD · CDC | 2 | — | 3.8% | |
| 9 | U.S. Bank, National AssociationCincinnati, OH | 2 | — | 3.8% | |
| 10 | The Huntington National BankColumbus, OH | 2 | — | 3.8% | |
| 11 | The First National Bank in Sioux FallsSioux Falls, SD | 2 | — | 3.8% | |
| 12 | Customers BankMalvern, PA | 1 | — | 1.9% | |
| 13 | Reliabank DakotaEstelline, SD | 1 | — | 1.9% | |
| 14 | Bank MidwestSpirit Lake, IA | 1 | — | 1.9% | |
| 15 | United Prairie BankMountain Lake, MN | 1 | — | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 6 | 11.5% | |
| 2 | Residential Building ConstructionNAICS 2361 | 5 | 9.6% | |
| 3 | Traveler AccommodationNAICS 7211 | 4 | 7.7% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 5.8% | |
| 5 | Offices of DentistsNAICS 6212 | 2 | 3.8% | |
| 6 | Drycleaning and Laundry ServicesNAICS 8123 | 2 | 3.8% | |
| 7 | Cattle Ranching and FarmingNAICS 1121 | 2 | 3.8% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 2 | 3.8% | |
| 9 | Motor Vehicle and Motor Vehicle Parts and Supplies Merchant WholesalersNAICS 4231 | 2 | 3.8% | |
| 10 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 2 | 3.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Wholesale Trade | 9 | 17.3% | |
| 2 | Construction | 8 | 15.4% | |
| 3 | Retail Trade | 7 | 13.5% | |
| 4 | Other Services (except Public Administration) | 6 | 11.5% | |
| 5 | Accommodation and Food Services | 5 | 9.6% | |
| 6 | Health Care and Social Assistance | 4 | 7.7% | |
| 7 | Manufacturing | 4 | 7.7% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 2 | 3.8% |
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* | 3 | $684K | $200K | 1 | — | 4 | 62 |
| FY2025 | 2 | — | — | 4 | $2.3M | 6 | 39 |
| FY2024 | 13 | $6.3M | $262K | 4 | $4.0M | 17 | 103 |
| FY2023 | 4 | $2.4M | $299K | 3 | $1.8M | 7 | 70 |
| FY2022 | 6 | $4.8M | $375K | 4 | $1.3M | 10 | 72 |
| FY2021 | 11 | $13.3M | $1.6M | 1 | — | 12 | 66 |
| FY2020 | 3 | $2.2M | $830K | 3 | $752K | 6 | 43 |
| FY2019 | 0 | — | — | 2 | — | 2 | 5 |
| FY2018 | 7 | $3.0M | $125K | 4 | $2.0M | 11 | 73 |
| FY2017 | 2 | — | — | 3 | $744K | 5 | 56 |
| FY2016 | 2 | — | — | 3 | $1.0M | 5 | 91 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 29 approvals.
Against South Dakota and the country
| FY2021–FY2025 | Codington County | South Dakota | United States |
|---|---|---|---|
| Approvals | 52 | 1,237 | 342,825 |
| Approvals per 1,000 establishments | 43.0 | 42.5 | 41.0 |
| Median 7(a) approval | $400K | $150K | $190K |
| Median 504 approval | $581K | $463K | $657K |
| Average approval | $742K | $560K | $573K |
| 504 share of approvals | 30.8% | 40.5% | 11.0% |
| Jobs supported per approval, as reported | 6.7 | 9.0 | 10.5 |
| Share of state approvals | 4.2% | 100.0% | — |
Approval sizes
- $50,000 or less9.6%5
- $50,001 to $150,0007.7%4
- $150,001 to $350,00025.0%13
- $350,001 to $1 million28.8%15
- $1 million to $2 million21.2%11
- Over $2 million7.7%4
Age of the businesses
- Existing, more than 2 years old46.2%24
- New business, 2 years or less23.1%12
- Startup, loan funds will open the business9.6%5
- Change of ownership21.2%11
Questions and answers
Which lenders make the most SBA loans in Codington County?
By approvals in FY2021 to FY2025: Ally Dakota Development, Inc. (10), Red River State Bank (5), First Bank & Trust (5), Wells Fargo Bank National Association (5), Dakota Business Finance (4). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Codington County?
The median 7(a) approval was $400K and the median 504 approval $581K; the South Dakota 7(a) median was $150K.
Which industries get the most SBA loans in Codington County?
Machinery, Equipment, and Supplies Merchant Wholesalers (6); Residential Building Construction (5); Traveler Accommodation (4); Automotive Repair and Maintenance (3); Offices of Dentists (2).
Is SBA lending in Codington County rising?
Approvals in the three latest complete fiscal years total 30, against 28 in the three before: broadly level (+7%).
How does Codington County compare with the rest of South Dakota?
43.0 approvals per 1,000 establishments against 42.5 statewide, and 52 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