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County2nd of 46 in South Dakota by approvalsFIPS 46103
SBA loans in Pennington 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 202 loans to businesses in Pennington County, South Dakota, in FY2021 to FY2025, worth $106M: 141 under 7(a) and 61 under 504.
That is 48.8 approvals per 1,000 business establishments (4,137 establishments in 2023), close to the South Dakota figure of 42.5 and above the national 41.0.
It ranks 2nd of 46 South Dakota counties with approvals. In FY2025 there were 33, down 15% on FY2024.
31 lenders had approvals here; the most active were Black Hills FCU (48), Ally Dakota Development, Inc. (44) and Highmark FCU (15). 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 Pennington County
By number of approvals to businesses in the county, FY2021–FY2025; 31 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Black Hills FCURapid City, SD | 48 | $13.9M | 23.8% | |
| 2 | Ally Dakota Development, Inc.Rapid City, SD · CDC | 44 | $30.3M | 21.8% | |
| 3 | Highmark FCURapid City, SD | 15 | $1.7M | 7.4% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 13 | $5.5M | 6.4% | |
| 5 | Dakota Business FinanceSioux Falls, SD · CDC | 10 | $11.3M | 5.0% | |
| 6 | First Interstate BankBillings, MT | 10 | $5.4M | 5.0% | |
| 7 | Pioneer Bank & TrustBelle Fourche, SD | 10 | $1.7M | 5.0% | |
| 8 | South Dakota Development CorporationSioux Falls, SD · CDC | 7 | $7.4M | 3.5% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 7 | $1.3M | 3.5% | |
| 10 | First National BankFort Pierre, SD | 5 | $856K | 2.5% | |
| 11 | Byline BankChicago, IL | 3 | $7.7M | 1.5% | |
| 12 | First Bank & TrustBrookings, SD | 3 | $3.7M | 1.5% | |
| 13 | Readycap Lending, LLCBerkeley Heights, NJ | 3 | $711K | 1.5% | |
| 14 | Security First BankLincoln, NE | 2 | — | 1.0% | |
| 15 | TowneBankPortsmouth, VA | 2 | — | 1.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 20 | 9.9% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 16 | 7.9% | |
| 3 | Traveler AccommodationNAICS 7211 | 11 | 5.4% | |
| 4 | General Freight TruckingNAICS 4841 | 8 | 4.0% | |
| 5 | Personal Care ServicesNAICS 8121 | 7 | 3.5% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 3.5% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 6 | 3.0% | |
| 8 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 5 | 2.5% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 2.5% | |
| 10 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 4 | 2.0% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 42 | 20.8% | |
| 2 | Retail Trade | 28 | 13.9% | |
| 3 | Health Care and Social Assistance | 26 | 12.9% | |
| 4 | Other Services (except Public Administration) | 23 | 11.4% | |
| 5 | Manufacturing | 16 | 7.9% | |
| 6 | Construction | 15 | 7.4% | |
| 7 | Professional, Scientific, and Technical Services | 10 | 5.0% | |
| 8 | Transportation and Warehousing | 10 | 5.0% |
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* | 8 | $2.8M | $214K | 5 | $1.5M | 13 | 100 |
| FY2025 | 19 | $5.3M | $150K | 14 | $13.4M | 33 | 292 |
| FY2024 | 32 | $13.5M | $106K | 7 | $5.9M | 39 | 346 |
| FY2023 | 31 | $14.9M | $85K | 4 | $4.4M | 35 | 477 |
| FY2022 | 25 | $6.7M | $91K | 13 | $12.4M | 38 | 233 |
| FY2021 | 34 | $16.1M | $165K | 23 | $12.9M | 57 | 473 |
| FY2020 | 38 | $7.4M | $73K | 17 | $10.3M | 55 | 427 |
| FY2019 | 19 | $4.7M | $100K | 6 | $3.6M | 25 | 125 |
| FY2018 | 20 | $4.1M | $93K | 11 | $4.5M | 31 | 148 |
| FY2017 | 28 | $12.7M | $163K | 13 | $7.8M | 41 | 384 |
| FY2016 | 17 | $10.2M | $320K | 3 | $333K | 20 | 307 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 172 approvals.
Against South Dakota and the country
| FY2021–FY2025 | Pennington County | South Dakota | United States |
|---|---|---|---|
| Approvals | 202 | 1,237 | 342,825 |
| Approvals per 1,000 establishments | 48.8 | 42.5 | 41.0 |
| Median 7(a) approval | $106K | $150K | $190K |
| Median 504 approval | $497K | $463K | $657K |
| Average approval | $523K | $560K | $573K |
| 504 share of approvals | 30.2% | 40.5% | 11.0% |
| Jobs supported per approval, as reported | 9.0 | 9.0 | 10.5 |
| Share of state approvals | 16.3% | 100.0% | — |
Approval sizes
- $50,000 or less18.8%38
- $50,001 to $150,00024.8%50
- $150,001 to $350,00018.3%37
- $350,001 to $1 million25.2%51
- $1 million to $2 million5.9%12
- Over $2 million6.9%14
Age of the businesses
- Existing, more than 2 years old44.6%90
- New business, 2 years or less16.3%33
- Startup, loan funds will open the business26.7%54
- Change of ownership12.4%25
Questions and answers
Which lenders make the most SBA loans in Pennington County?
By approvals in FY2021 to FY2025: Black Hills FCU (48), Ally Dakota Development, Inc. (44), Highmark FCU (15), U.S. Bank, National Association (13), Dakota Business Finance (10). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Pennington County?
The median 7(a) approval was $106K and the median 504 approval $497K; the South Dakota 7(a) median was $150K.
Which industries get the most SBA loans in Pennington County?
Restaurants and Other Eating Places (20); Offices of Other Health Practitioners (16); Traveler Accommodation (11); General Freight Trucking (8); Personal Care Services (7).
Is SBA lending in Pennington County rising?
Approvals in the three latest complete fiscal years total 107, against 150 in the three before: falling (-29%).
How does Pennington County compare with the rest of South Dakota?
48.8 approvals per 1,000 establishments against 42.5 statewide, and 202 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