SBA loans in South Dakota, FY2018

That fiscal year's approvals by lender and by county.

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.

In FY2018 (1 October 2017 to 30 September 2018) SBA approved 192 loans in South Dakota: 121 under 7(a) and 71 under 504, worth $79.0M.

That is about level with FY2017, when there were 205 approvals worth $90.1M.

South Dakota accounted for 0.3% of the 66,228 approvals nationwide that year. 44 lenders had at least one approval in the state; Ally Dakota Development, Inc. had the most, 36.

192approvalsFY2017: 205

$79.0Mdollars approvedFY2017: $90.1M

$150Kmedian 7(a) approvalFY2017: $149K

44lenders with an approval

1,933jobs supported, as reported

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.

Approvals by lender

The 40 lenders with the most approvals to South Dakota businesses in FY2018, of 44 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2017	Change
1	Ally Dakota Development, Inc.	504	36	$18.9M	18.8%	24	+12
2	Dakota Business Finance	504	29	$12.0M	15.1%	36	-7
3	Wells Fargo Bank National Association	7(a)	24	$8.0M	12.5%	34	-10
4	Dacotah Bank	7(a)	13	$3.6M	6.8%	8	+5
5	The First National Bank in Sioux Falls	7(a)	9	$2.2M	4.7%	13	-4
6	First Interstate Bank	7(a)	8	$1.4M	4.2%	9	-1
7	Black Hills FCU	7(a)	7	$491K	3.6%	13	-6
8	U.S. Bank, National Association	7(a)	6	$203K	3.1%	9	-3
9	Midwest Business Finance Corporation	504	5	$3.5M	2.6%	1	+4
10	Highmark FCU	7(a)	4	$1.1M	2.1%	4	0
11	First PREMIER Bank	7(a)	4	$623K	2.1%	2	+2
12	Independence Bank	7(a)	3	$375K	1.6%	0	new
13	Pioneer Bank & Trust	7(a)	3	$330K	1.6%	2	+1
14	Lincoln Savings Bank	7(a)	2	—	1.0%	0	new
15	Minnwest Bank	7(a)	2	—	1.0%	5	-3
16	First Bank & Trust	7(a)	2	—	1.0%	0	new
17	Heritage Bank, National Association	7(a)	2	—	1.0%	0	new
18	First National Bank of Omaha	7(a)	2	—	1.0%	7	-5
19	First Savings Bank	7(a)	2	—	1.0%	4	-2
20	First National Bank	7(a)	2	—	1.0%	3	-1
21	Plains Commerce Bank	7(a)	2	—	1.0%	1	+1
22	Stearns Bank National Association	7(a)	2	—	1.0%	1	+1
23	Liberty National Bank	7(a)	2	—	1.0%	3	-1
24	North Valley Bank	7(a)	1	—	0.5%	0	new
25	Commonwealth Business Bank	7(a)	1	—	0.5%	0	new
26	Newtek Small Business Finance, Inc.	7(a)	1	—	0.5%	0	new
27	GBC International Bank	7(a)	1	—	0.5%	1	0
28	American Bank and Trust	7(a)	1	—	0.5%	2	-1
29	Happen Bank	7(a)	1	—	0.5%	1	0
30	BankStar Financial	7(a)	1	—	0.5%	0	new
31	Open Bank	7(a)	1	—	0.5%	0	new
32	South Dakota Development Corporation	504	1	—	0.5%	3	-2
33	United Community Bank	7(a)	1	—	0.5%	1	0
34	Five Star Bank	7(a)	1	—	0.5%	0	new
35	Simmons Bank	7(a)	1	—	0.5%	0	new
36	Central Bank	7(a)	1	—	0.5%	1	0
37	Timberline Bank	7(a)	1	—	0.5%	0	new
38	BayFirst National Bank	7(a)	1	—	0.5%	1	0
39	CCFBank National Association	7(a)	1	—	0.5%	0	new
40	CorTrust Bank National Association	7(a)	1	—	0.5%	0	new

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2017	Change
1	Minnehaha County	60	$24.8M	31.3%	71	-11
2	Pennington County	31	$8.5M	16.1%	41	-10
3	Lincoln County	23	$10.5M	12.0%	22	+1
4	Codington County	11	$5.0M	5.7%	5	+6
5	Lawrence County	9	$2.6M	4.7%	7	+2
6	Brown County	6	$2.4M	3.1%	3	+3
7	Perkins County	5	$825K	2.6%	1	+4
8	Brookings County	4	$1.8M	2.1%	4	0
9	Union County	4	$2.9M	2.1%	4	0
10	Beadle County	4	$3.2M	2.1%	2	+2
11	Moody County	4	$1.4M	2.1%	1	+3
12	Lake County	3	$2.0M	1.6%	1	+2
13	Hughes County	3	$2.6M	1.6%	6	-3
14	Meade County	3	$1.3M	1.6%	6	-3
15	Yankton County	2	—	1.0%	3	-1
16	Clay County	2	—	1.0%	1	+1
17	Hutchinson County	2	—	1.0%	0	new
18	Charles Mix County	2	—	1.0%	2	0
19	Clark County	2	—	1.0%	0	new
20	Bon Homme County	2	—	1.0%	1	+1
21	Spink County	1	—	0.5%	0	new
22	Davison County	1	—	0.5%	3	-2
23	Marshall County	1	—	0.5%	0	new
24	Bennett County	1	—	0.5%	0	new
25	Butte County	1	—	0.5%	1	0
26	Day County	1	—	0.5%	0	new
27	Turner County	1	—	0.5%	1	0
28	Hamlin County	1	—	0.5%	0	new
29	Deuel County	1	—	0.5%	0	new
30	Brule County	1	—	0.5%	1	0

FY2018 against FY2017

South Dakota	FY2018	FY2017
7(a) approvals	121	139
7(a) dollars	$43.9M	$50.8M
Median 7(a) approval	$150K	$149K
504 approvals	71	66
504 dollars	$35.1M	$39.4M
Jobs supported, as reported	1,933	2,043

Questions and answers

Which lenders made the most SBA loans in South Dakota in FY2018?

Ally Dakota Development, Inc. (36), Dakota Business Finance (29), Wells Fargo Bank National Association (24), Dacotah Bank (13), The First National Bank in Sioux Falls (9). 44 lenders had at least one approval.

How many SBA loans were approved in South Dakota in FY2018?

192: 121 under 7(a) worth $43.9M and 71 under 504 worth $35.1M.

Which South Dakota counties had the most SBA approvals in FY2018?

Minnehaha County (60), Pennington County (31), Lincoln County (23), Codington County (11), Lawrence County (9).

When does FY2018 start and end?

The federal fiscal year 2018 runs from 1 October 2017 to 30 September 2018.

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