States › South Dakota › FY2019
FY20191 Oct 2018 – 30 Sep 2019
SBA loans in South Dakota, FY2019
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 FY2019 (1 October 2018 to 30 September 2019) SBA approved 160 loans in South Dakota: 114 under 7(a) and 46 under 504, worth $67.7M.
That is down 17% on FY2018, when there were 192 approvals worth $79.0M.
South Dakota accounted for 0.3% of the 58,006 approvals nationwide that year. 34 lenders had at least one approval in the state; Dakota Business Finance had the most, 22.
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 34 lenders with the most approvals to South Dakota businesses in FY2019, of 34 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Dakota Business Finance | 504 | 22 | $17.1M | 13.8% | 29 | -7 |
| 2 | Wells Fargo Bank National Association | 7(a) | 20 | $4.4M | 12.5% | 24 | -4 |
| 3 | Ally Dakota Development, Inc. | 504 | 19 | $9.2M | 11.9% | 36 | -17 |
| 4 | The First National Bank in Sioux Falls | 7(a) | 11 | $3.8M | 6.9% | 9 | +2 |
| 5 | U.S. Bank, National Association | 7(a) | 11 | $1.9M | 6.9% | 6 | +5 |
| 6 | Black Hills FCU | 7(a) | 10 | $1.5M | 6.3% | 7 | +3 |
| 7 | First National Bank of Omaha | 7(a) | 8 | $3.9M | 5.0% | 2 | +6 |
| 8 | Highmark FCU | 7(a) | 6 | $784K | 3.8% | 4 | +2 |
| 9 | Dacotah Bank | 7(a) | 5 | $860K | 3.1% | 13 | -8 |
| 10 | Heritage Bank, National Association | 7(a) | 4 | $2.1M | 2.5% | 2 | +2 |
| 11 | First National Bank | 7(a) | 4 | $988K | 2.5% | 2 | +2 |
| 12 | Midwest Business Finance Corporation | 504 | 3 | $4.0M | 1.9% | 5 | -2 |
| 13 | Minnwest Bank | 7(a) | 3 | $1.7M | 1.9% | 2 | +1 |
| 14 | First Interstate Bank | 7(a) | 3 | $951K | 1.9% | 8 | -5 |
| 15 | Stearns Bank National Association | 7(a) | 3 | $681K | 1.9% | 2 | +1 |
| 16 | First Savings Bank | 7(a) | 3 | $626K | 1.9% | 2 | +1 |
| 17 | Newtek Small Business Finance, Inc. | 7(a) | 2 | — | 1.3% | 1 | +1 |
| 18 | South Dakota Development Corporation | 504 | 2 | — | 1.3% | 1 | +1 |
| 19 | BayFirst National Bank | 7(a) | 2 | — | 1.3% | 1 | +1 |
| 20 | United Midwest Savings Bank National Association | 7(a) | 2 | — | 1.3% | 1 | +1 |
| 21 | Northeast Bank | 7(a) | 2 | — | 1.3% | 0 | new |
| 22 | Reliabank Dakota | 7(a) | 2 | — | 1.3% | 0 | new |
| 23 | First PREMIER Bank | 7(a) | 2 | — | 1.3% | 4 | -2 |
| 24 | GBC International Bank | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 25 | American Bank and Trust | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 26 | One American Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 27 | Live Oak Banking Company | 7(a) | 1 | — | 0.6% | 0 | new |
| 28 | Pathward National Association | 7(a) | 1 | — | 0.6% | 0 | new |
| 29 | Ameris Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 30 | Central Bank | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 31 | The Security State Bank | 7(a) | 1 | — | 0.6% | 0 | new |
| 32 | Sentinel Federal Credit Union | 7(a) | 1 | — | 0.6% | 0 | new |
| 33 | Cornerstone Bank | 7(a) | 1 | — | 0.6% | 1 | 0 |
| 34 | BankStar Financial | 7(a) | 1 | — | 0.6% | 1 | 0 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|
| 1 | Minnehaha County | 43 | $23.0M | 26.9% | 60 | -17 |
| 2 | Pennington County | 25 | $8.3M | 15.6% | 31 | -6 |
| 3 | Lincoln County | 20 | $5.4M | 12.5% | 23 | -3 |
| 4 | Yankton County | 10 | $3.0M | 6.3% | 2 | +8 |
| 5 | Lawrence County | 8 | $2.3M | 5.0% | 9 | -1 |
| 6 | Meade County | 6 | $2.7M | 3.8% | 3 | +3 |
| 7 | Brookings County | 5 | $1.7M | 3.1% | 4 | +1 |
| 8 | Custer County | 4 | $706K | 2.5% | 0 | new |
| 9 | Beadle County | 4 | $6.9M | 2.5% | 4 | 0 |
| 10 | Brown County | 3 | $1.1M | 1.9% | 6 | -3 |
| 11 | Butte County | 3 | $1.7M | 1.9% | 1 | +2 |
| 12 | Fall River County | 3 | $684K | 1.9% | 0 | new |
| 13 | Lake County | 2 | — | 1.3% | 3 | -1 |
| 14 | Hughes County | 2 | — | 1.3% | 3 | -1 |
| 15 | Davison County | 2 | — | 1.3% | 1 | +1 |
| 16 | Codington County | 2 | — | 1.3% | 11 | -9 |
| 17 | Union County | 2 | — | 1.3% | 4 | -2 |
| 18 | Bennett County | 2 | — | 1.3% | 1 | +1 |
| 19 | Roberts County | 2 | — | 1.3% | 0 | new |
| 20 | Moody County | 2 | — | 1.3% | 4 | -2 |
| 21 | Harding County | 1 | — | 0.6% | 0 | new |
| 22 | Kingsbury County | 1 | — | 0.6% | 0 | new |
| 23 | Hamlin County | 1 | — | 0.6% | 1 | 0 |
| 24 | Grant County | 1 | — | 0.6% | 0 | new |
| 25 | Perkins County | 1 | — | 0.6% | 5 | -4 |
| 26 | Hanson County | 1 | — | 0.6% | 0 | new |
| 27 | Brule County | 1 | — | 0.6% | 1 | 0 |
| 28 | McPherson County | 1 | — | 0.6% | 0 | new |
| 29 | Sully County | 1 | — | 0.6% | 0 | new |
| 30 | Tripp County | 1 | — | 0.6% | 0 | new |
FY2019 against FY2018
| South Dakota | FY2019 | FY2018 |
|---|---|---|
| 7(a) approvals | 114 | 121 |
| 7(a) dollars | $36.3M | $43.9M |
| Median 7(a) approval | $141K | $150K |
| 504 approvals | 46 | 71 |
| 504 dollars | $31.5M | $35.1M |
| Jobs supported, as reported | 1,230 | 1,933 |
Questions and answers
Which lenders made the most SBA loans in South Dakota in FY2019?
Dakota Business Finance (22), Wells Fargo Bank National Association (20), Ally Dakota Development, Inc. (19), The First National Bank in Sioux Falls (11), U.S. Bank, National Association (11). 34 lenders had at least one approval.
How many SBA loans were approved in South Dakota in FY2019?
160: 114 under 7(a) worth $36.3M and 46 under 504 worth $31.5M.
Which South Dakota counties had the most SBA approvals in FY2019?
Minnehaha County (43), Pennington County (25), Lincoln County (20), Yankton County (10), Lawrence County (8).
When does FY2019 start and end?
The federal fiscal year 2019 runs from 1 October 2018 to 30 September 2019.
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