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County3rd of 46 in South Dakota by approvalsFIPS 46083
SBA loans in Lincoln 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 Lincoln County, South Dakota, received 143 SBA loan approvals worth $67.9M in FY2021 to FY2025 (79 7(a), 64 504).
That is 65.5 approvals per 1,000 business establishments (2,184 establishments in 2023), above the South Dakota figure of 42.5 and above the national 41.0.
It ranks 3rd of 46 South Dakota counties with approvals. In FY2025 there were 37, up 54% on FY2024.
28 lenders had approvals here; the most active were Dakota Business Finance (47), The First National Bank in Sioux Falls (20) and First Bank & Trust (13). The most common industry was other personal services.
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 Lincoln County
By number of approvals to businesses in the county, FY2021–FY2025; 28 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Dakota Business FinanceSioux Falls, SD · CDC | 47 | $24.4M | 32.9% | |
| 2 | The First National Bank in Sioux FallsSioux Falls, SD | 20 | $6.2M | 14.0% | |
| 3 | First Bank & TrustBrookings, SD | 13 | $6.4M | 9.1% | |
| 4 | Levo Federal Credit UnionSioux Falls, SD | 9 | $396K | 6.3% | |
| 5 | South Dakota Development CorporationSioux Falls, SD · CDC | 8 | $5.8M | 5.6% | |
| 6 | Midwest Business Finance CorporationSt. Cloud, MN · CDC | 4 | $3.5M | 2.8% | |
| 7 | Wells Fargo Bank National AssociationSioux Falls, SD | 4 | $2.0M | 2.8% | |
| 8 | First Interstate BankBillings, MT | 3 | $727K | 2.1% | |
| 9 | Ally Dakota Development, Inc.Rapid City, SD · CDC | 3 | $706K | 2.1% | |
| 10 | Security Savings BankCanton, SD | 3 | $595K | 2.1% | |
| 11 | First Savings BankBeresford, SD | 3 | $301K | 2.1% | |
| 12 | U.S. Bank, National AssociationCincinnati, OH | 3 | $133K | 2.1% | |
| 13 | Live Oak Banking CompanyWilmington, NC | 2 | — | 1.4% | |
| 14 | American Bank and TrustSioux Falls, SD | 2 | — | 1.4% | |
| 15 | Plains Commerce BankSioux Falls, SD | 2 | — | 1.4% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Personal ServicesNAICS 8129 | 9 | 6.3% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 9 | 6.3% | |
| 3 | Child Day Care ServicesNAICS 6244 | 8 | 5.6% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 7 | 4.9% | |
| 5 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 6 | 4.2% | |
| 6 | Lessors of Real EstateNAICS 5311 | 5 | 3.5% | |
| 7 | Personal Care ServicesNAICS 8121 | 5 | 3.5% | |
| 8 | Residential Building ConstructionNAICS 2361 | 5 | 3.5% | |
| 9 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 2.8% | |
| 10 | Offices of Other Health PractitionersNAICS 6213 | 4 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 26 | 18.2% | |
| 2 | Other Services (except Public Administration) | 23 | 16.1% | |
| 3 | Health Care and Social Assistance | 17 | 11.9% | |
| 4 | Manufacturing | 15 | 10.5% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 9 | 6.3% | |
| 6 | Real Estate and Rental and Leasing | 9 | 6.3% | |
| 7 | Professional, Scientific, and Technical Services | 9 | 6.3% | |
| 8 | Retail Trade | 8 | 5.6% |
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* | 16 | $5.5M | $156K | 11 | $11.3M | 27 | 331 |
| FY2025 | 26 | $12.2M | $55K | 11 | $5.5M | 37 | 264 |
| FY2024 | 16 | $9.5M | $169K | 8 | $3.8M | 24 | 216 |
| FY2023 | 10 | $4.6M | $150K | 6 | $2.4M | 16 | 113 |
| FY2022 | 8 | $1.2M | $143K | 10 | $7.2M | 18 | 137 |
| FY2021 | 19 | $4.9M | $113K | 29 | $16.6M | 48 | 465 |
| FY2020 | 16 | $4.9M | $175K | 13 | $9.7M | 29 | 269 |
| FY2019 | 15 | $3.1M | $75K | 5 | $2.3M | 20 | 151 |
| FY2018 | 15 | $3.6M | $225K | 8 | $6.8M | 23 | 217 |
| FY2017 | 14 | $2.4M | $145K | 8 | $4.4M | 22 | 257 |
| FY2016 | 16 | $1.4M | $20K | 4 | $1.9M | 20 | 79 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 114 approvals.
Against South Dakota and the country
| FY2021–FY2025 | Lincoln County | South Dakota | United States |
|---|---|---|---|
| Approvals | 143 | 1,237 | 342,825 |
| Approvals per 1,000 establishments | 65.5 | 42.5 | 41.0 |
| Median 7(a) approval | $139K | $150K | $190K |
| Median 504 approval | $444K | $463K | $657K |
| Average approval | $475K | $560K | $573K |
| 504 share of approvals | 44.8% | 40.5% | 11.0% |
| Jobs supported per approval, as reported | 8.4 | 9.0 | 10.5 |
| Share of state approvals | 11.6% | 100.0% | — |
Approval sizes
- $50,000 or less12.6%18
- $50,001 to $150,00023.8%34
- $150,001 to $350,00025.9%37
- $350,001 to $1 million28.0%40
- $1 million to $2 million7.0%10
- Over $2 million2.8%4
Age of the businesses
- Existing, more than 2 years old55.9%80
- New business, 2 years or less14.0%20
- Startup, loan funds will open the business26.6%38
- Change of ownership3.5%5
Questions and answers
Which lenders make the most SBA loans in Lincoln County?
By approvals in FY2021 to FY2025: Dakota Business Finance (47), The First National Bank in Sioux Falls (20), First Bank & Trust (13), Levo Federal Credit Union (9), South Dakota Development Corporation (8). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Lincoln County?
The median 7(a) approval was $139K and the median 504 approval $444K; the South Dakota 7(a) median was $150K.
Which industries get the most SBA loans in Lincoln County?
Other Personal Services (9); Other Specialty Trade Contractors (9); Child Day Care Services (8); Services to Buildings and Dwellings (7); Foundation, Structure, and Building Exterior Contractors (6).
Is SBA lending in Lincoln County rising?
Approvals in the three latest complete fiscal years total 77, against 95 in the three before: falling (-19%).
How does Lincoln County compare with the rest of South Dakota?
65.5 approvals per 1,000 establishments against 42.5 statewide, and 143 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