Lenders › Black Hills FCU
7(a) lenderRapid City, South Dakotacredit union371st of 2,184 by approvals
Black Hills FCU
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Black Hills FCU (Rapid City, South Dakota) is a credit union in the SBA 7(a) program, 371st of 2,184 by approvals in FY2021 to FY2025: 82 loans worth $19.8M.
In FY2025, the latest complete fiscal year, it had 3 approvals totalling $1.1M, down 84% on FY2024 (19). FY2026 to 30 Jun 2026 adds 6 more.
The median approval was $87K, against $190K for the 7(a) program as a whole; 68.3% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 2 states and territories and 11 counties, led by South Dakota (98.8%) and North Dakota (1.2%). The largest industry group was accommodation and food services at 23.2% of approvals, and 1.2% of approvals were to franchise businesses.
Of 175 disbursed loans approved in FY2010 to FY2021, SBA records 10 as charged off (5.7%), 142 as paid in full and 23 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 6 | $386K | $44K | $64K | 18 |
| FY2025 | 3 | $1.1M | $270K | $367K | 47 |
| FY2024 | 19 | $4.4M | $50K | $231K | 135 |
| FY2023 | 27 | $4.6M | $85K | $171K | 253 |
| FY2022 | 12 | $2.2M | $89K | $184K | 52 |
| FY2021 | 21 | $7.5M | $74K | $356K | 160 |
| FY2020 | 21 | $3.9M | $33K | $187K | 164 |
| FY2019 | 10 | $1.5M | $78K | $147K | 59 |
| FY2018 | 7 | $491K | $36K | $70K | 17 |
| FY2017 | 13 | $935K | $50K | $72K | 76 |
| FY2016 | 16 | $5.5M | $326K | $342K | 525 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 67 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | South Dakota | 7(a) program |
|---|---|---|---|
| Approvals in these years | 194 | 1,713 | 639,905 |
| Cancelled or never disbursed | 19 | 183 | 79,313 |
| Disbursed loans | 175 | 1,530 | 560,592 |
| Paid in full | 142 | 1,247 | 435,813 |
| Charged off | 10 | 82 | 36,891 |
| Still outstanding (status exempt from disclosure) | 23 | 201 | 87,888 |
| Charged off, share of disbursed loans | 5.7% | 5.4% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.0% | 2.2% | 2.5% |
| Dollars charged off | $553K | $11.2M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 19 | 10 | 0 | — | 2.8% |
| FY2020 | 18 | 13 | 0 | — | 4.0% |
| FY2019 | 7 | 7 | 0 | — | 6.7% |
| FY2018 | 6 | 4 | 0 | — | 7.9% |
| FY2017 | 13 | 11 | 1 | — | 7.7% |
| FY2016 | 16 | 10 | 0 | — | 7.2% |
| FY2015 | 9 | 9 | 0 | — | 6.9% |
| FY2014 | 14 | 12 | 2 | — | 6.4% |
| FY2013 | 6 | 6 | 0 | — | 6.0% |
| FY2012 | 21 | 19 | 2 | — | 6.3% |
| FY2011 | 14 | 14 | 0 | — | 6.9% |
| FY2010 | 32 | 27 | 5 | 15.6% | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $87K | $190K |
| Average approval | $241K | $518K |
| Approvals of $150,000 or less | 68.3% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 67.1% | 34.3% |
| Approvals to franchise businesses | 1.2% | 11.5% |
| Jobs supported per approval, as reported | 7.9 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.7% | 6.6% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | South Dakota | 81 | $19.7M | 98.8% | |
| 2 | North Dakota | 1 | — | 1.2% |
In South Dakota the lender accounts for 11.0% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (11 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Pennington County, SD | 48 | $13.9M | 58.5% | |
| 2 | Minnehaha County, SD | 13 | $3.0M | 15.9% | |
| 3 | Meade County, SD | 10 | $964K | 12.2% | |
| 4 | Custer County, SD | 3 | $269K | 3.7% | |
| 5 | Lincoln County, SD | 2 | — | 2.4% | |
| 6 | Hughes County, SD | 1 | — | 1.2% | |
| 7 | Jones County, SD | 1 | — | 1.2% | |
| 8 | Yankton County, SD | 1 | — | 1.2% | |
| 9 | Williams County, ND | 1 | — | 1.2% | |
| 10 | Lawrence County, SD | 1 | — | 1.2% | |
| 11 | Fall River County, SD | 1 | — | 1.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 19 | 23.2% | |
| 2 | Retail Trade | 13 | 15.9% | |
| 3 | Other Services (except Public Administration) | 10 | 12.2% | |
| 4 | Manufacturing | 8 | 9.8% | |
| 5 | Health Care and Social Assistance | 6 | 7.3% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 5 | 6.1% | |
| 7 | Transportation and Warehousing | 5 | 6.1% | |
| 8 | Construction | 5 | 6.1% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 11 | 13.4% | |
| 2 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 4 | 4.9% | |
| 3 | Architectural and Structural Metals ManufacturingNAICS 3323 | 4 | 4.9% | |
| 4 | Personal Care ServicesNAICS 8121 | 3 | 3.7% | |
| 5 | Clothing and Clothing Accessories RetailersNAICS 4581 | 3 | 3.7% | |
| 6 | Other Personal ServicesNAICS 8129 | 3 | 3.7% | |
| 7 | Remediation and Other Waste Management ServicesNAICS 5629 | 3 | 3.7% | |
| 8 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 3.7% | |
| 9 | Child Day Care ServicesNAICS 6244 | 2 | 2.4% | |
| 10 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 2.4% |
Approval sizes
- $50,000 or less35.4%29
- $50,001 to $150,00032.9%27
- $150,001 to $350,00013.4%11
- $350,001 to $1 million14.6%12
- $1 million to $2 million1.2%1
- Over $2 million2.4%2
Loan terms
- 5 years or less34.1%28
- Over 5 to 10 years57.3%47
- Over 10 to 20 years4.9%4
- Over 20 years3.7%3
Age of the businesses
- Existing, more than 2 years old26.8%22
- New business, 2 years or less26.8%22
- Startup, loan funds will open the business40.2%33
- Change of ownership6.1%5
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | SBA Express Program | 64 | 78.0% | |
| 2 | 7a General | 18 | 22.0% |
Franchise share
1 of 82 approvals in FY2021–FY2025 (1.2%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Teriyaki Madness | 1 | 1.2% |
Questions and answers
How many SBA loans does Black Hills FCU make?
SBA approved 3 7(a) loans through Black Hills FCU in FY2025, worth $1.1M, and 82 over FY2021 to FY2025. That ranks 371st of 2,184 active 7(a) lenders by number of approvals.
How large are Black Hills FCU's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $87K and the average $241K. The program-wide median was $190K.
What is Black Hills FCU's charge-off rate?
Of 175 disbursed loans approved in FY2010 to FY2021, SBA records 10 as charged off (5.7%), 142 as paid in full and 23 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Black Hills FCU lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (11); drinking places (alcoholic beverages) (4); architectural and structural metals manufacturing (4); personal care services (3).
Where does Black Hills FCU make SBA loans?
In 2 states and territories. South Dakota 81, North Dakota 1. In South Dakota it accounts for 11.0% of all 7(a) approvals.
Is Black Hills FCU's SBA lending rising?
Approvals in the three latest complete fiscal years total 49, against 54 in the three before: broadly level (-9%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error