States › South Dakota › FY2020
FY20201 Oct 2019 – 30 Sep 2020
SBA loans in South Dakota, FY2020
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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 261 loans in South Dakota: 163 under 7(a) and 98 under 504, worth $105M.
That is up 63% on FY2019, when there were 160 approvals worth $67.7M.
South Dakota accounted for 0.5% of the 49,417 approvals nationwide that year. 46 lenders had at least one approval in the state; Dakota Business Finance had the most, 54.
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 FY2020, of 46 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Dakota Business Finance | 504 | 54 | $28.0M | 20.7% | 22 | +32 |
| 2 | Ally Dakota Development, Inc. | 504 | 32 | $15.2M | 12.3% | 19 | +13 |
| 3 | The First National Bank in Sioux Falls | 7(a) | 27 | $5.2M | 10.3% | 11 | +16 |
| 4 | Black Hills FCU | 7(a) | 20 | $3.8M | 7.7% | 10 | +10 |
| 5 | Dacotah Bank | 7(a) | 10 | $6.3M | 3.8% | 5 | +5 |
| 6 | First Interstate Bank | 7(a) | 10 | $6.0M | 3.8% | 3 | +7 |
| 7 | First National Bank | 7(a) | 10 | $1.7M | 3.8% | 4 | +6 |
| 8 | U.S. Bank, National Association | 7(a) | 9 | $1.3M | 3.4% | 11 | -2 |
| 9 | South Dakota Development Corporation | 504 | 8 | $5.7M | 3.1% | 2 | +6 |
| 10 | First PREMIER Bank | 7(a) | 8 | $1.2M | 3.1% | 2 | +6 |
| 11 | Highmark FCU | 7(a) | 7 | $557K | 2.7% | 6 | +1 |
| 12 | First Dakota National Bank | 7(a) | 6 | $3.3M | 2.3% | 0 | new |
| 13 | Wells Fargo Bank National Association | 7(a) | 6 | $1.8M | 2.3% | 20 | -14 |
| 14 | First Bank & Trust | 7(a) | 4 | $3.3M | 1.5% | 0 | new |
| 15 | Pioneer Bank & Trust | 7(a) | 4 | $2.1M | 1.5% | 0 | new |
| 16 | Minnwest Bank | 7(a) | 3 | $854K | 1.1% | 3 | 0 |
| 17 | Security Savings Bank | 7(a) | 3 | $545K | 1.1% | 0 | new |
| 18 | United Midwest Savings Bank National Association | 7(a) | 3 | $351K | 1.1% | 2 | +1 |
| 19 | GBC International Bank | 7(a) | 2 | — | 0.8% | 1 | +1 |
| 20 | Newtek Small Business Finance, Inc. | 7(a) | 2 | — | 0.8% | 2 | 0 |
| 21 | First National Bank of Omaha | 7(a) | 2 | — | 0.8% | 8 | -6 |
| 22 | Midwest Business Finance Corporation | 504 | 2 | — | 0.8% | 3 | -1 |
| 23 | Black Hills Community Bank, National Association | 7(a) | 2 | — | 0.8% | 0 | new |
| 24 | One American Bank | 7(a) | 2 | — | 0.8% | 1 | +1 |
| 25 | Aspire Bank | 7(a) | 2 | — | 0.8% | 0 | new |
| 26 | First Savings Bank | 7(a) | 2 | — | 0.8% | 3 | -1 |
| 27 | Sentinel Federal Credit Union | 7(a) | 2 | — | 0.8% | 1 | +1 |
| 28 | Dakota Business Lending | 504 | 1 | — | 0.4% | 0 | new |
| 29 | PNC Bank, National Association | 7(a) | 1 | — | 0.4% | 0 | new |
| 30 | Heritage Bank, National Association | 7(a) | 1 | — | 0.4% | 4 | -3 |
| 31 | Pathward National Association | 7(a) | 1 | — | 0.4% | 1 | 0 |
| 32 | Byline Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 33 | Midwest Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 34 | 1st Financial Bank USA | 7(a) | 1 | — | 0.4% | 0 | new |
| 35 | The Huntington National Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 36 | 5Star Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 37 | Sundance State Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 38 | Lake Agassiz Certified Development Company | 504 | 1 | — | 0.4% | 0 | new |
| 39 | Prime Security Bank | 7(a) | 1 | — | 0.4% | 0 | new |
| 40 | First Merchants Bank | 7(a) | 1 | — | 0.4% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|
| 1 | Minnehaha County | 84 | $31.2M | 32.2% | 43 | +41 |
| 2 | Pennington County | 55 | $17.7M | 21.1% | 25 | +30 |
| 3 | Lincoln County | 29 | $14.6M | 11.1% | 20 | +9 |
| 4 | Lawrence County | 14 | $4.8M | 5.4% | 8 | +6 |
| 5 | Brown County | 9 | $1.9M | 3.4% | 3 | +6 |
| 6 | Custer County | 7 | $1.5M | 2.7% | 4 | +3 |
| 7 | Yankton County | 6 | $4.4M | 2.3% | 10 | -4 |
| 8 | Codington County | 6 | $2.9M | 2.3% | 2 | +4 |
| 9 | Union County | 6 | $3.4M | 2.3% | 2 | +4 |
| 10 | Meade County | 5 | $2.2M | 1.9% | 6 | -1 |
| 11 | Brookings County | 4 | $4.0M | 1.5% | 5 | -1 |
| 12 | Hughes County | 4 | $1.1M | 1.5% | 2 | +2 |
| 13 | Fall River County | 4 | $3.7M | 1.5% | 3 | +1 |
| 14 | Lake County | 3 | $3.2M | 1.1% | 2 | +1 |
| 15 | Aurora County | 2 | — | 0.8% | 0 | new |
| 16 | Day County | 2 | — | 0.8% | 0 | new |
| 17 | Clark County | 2 | — | 0.8% | 0 | new |
| 18 | Perkins County | 2 | — | 0.8% | 1 | +1 |
| 19 | Spink County | 1 | — | 0.4% | 0 | new |
| 20 | Davison County | 1 | — | 0.4% | 2 | -1 |
| 21 | Clay County | 1 | — | 0.4% | 0 | new |
| 22 | Butte County | 1 | — | 0.4% | 3 | -2 |
| 23 | Stanley County | 1 | — | 0.4% | 0 | new |
| 24 | Hutchinson County | 1 | — | 0.4% | 0 | new |
| 25 | Harding County | 1 | — | 0.4% | 1 | 0 |
| 26 | Kingsbury County | 1 | — | 0.4% | 1 | 0 |
| 27 | Turner County | 1 | — | 0.4% | 0 | new |
| 28 | Roberts County | 1 | — | 0.4% | 2 | -1 |
| 29 | Deuel County | 1 | — | 0.4% | 0 | new |
| 30 | Moody County | 1 | — | 0.4% | 2 | -1 |
| 31 | Bon Homme County | 1 | — | 0.4% | 0 | new |
| 32 | Douglas County | 1 | — | 0.4% | 0 | new |
| 33 | Brule County | 1 | — | 0.4% | 1 | 0 |
| 34 | Potter County | 1 | — | 0.4% | 0 | new |
| 35 | Corson County | 1 | — | 0.4% | 0 | new |
FY2020 against FY2019
| South Dakota | FY2020 | FY2019 |
|---|---|---|
| 7(a) approvals | 163 | 114 |
| 7(a) dollars | $52.2M | $36.3M |
| Median 7(a) approval | $150K | $141K |
| 504 approvals | 98 | 46 |
| 504 dollars | $53.1M | $31.5M |
| Jobs supported, as reported | 2,215 | 1,230 |
Questions and answers
Which lenders made the most SBA loans in South Dakota in FY2020?
Dakota Business Finance (54), Ally Dakota Development, Inc. (32), The First National Bank in Sioux Falls (27), Black Hills FCU (20), Dacotah Bank (10). 46 lenders had at least one approval.
How many SBA loans were approved in South Dakota in FY2020?
261: 163 under 7(a) worth $52.2M and 98 under 504 worth $53.1M.
Which South Dakota counties had the most SBA approvals in FY2020?
Minnehaha County (84), Pennington County (55), Lincoln County (29), Lawrence County (14), Brown County (9).
When does FY2020 start and end?
The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.
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