States › South Dakota › FY2021
FY20211 Oct 2020 – 30 Sep 2021
SBA loans in South Dakota, FY2021
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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 328 loans in South Dakota: 159 under 7(a) and 169 under 504, worth $182M.
That is up 26% on FY2020, when there were 261 approvals worth $105M.
South Dakota accounted for 0.5% of the 61,532 approvals nationwide that year. 48 lenders had at least one approval in the state; Dakota Business Finance had the most, 95.
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 FY2021, of 48 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Dakota Business Finance | 504 | 95 | $65.6M | 29.0% | 54 | +41 |
| 2 | Ally Dakota Development, Inc. | 504 | 56 | $27.7M | 17.1% | 32 | +24 |
| 3 | Black Hills FCU | 7(a) | 20 | $7.4M | 6.1% | 20 | 0 |
| 4 | The First National Bank in Sioux Falls | 7(a) | 20 | $3.0M | 6.1% | 27 | -7 |
| 5 | First National Bank | 7(a) | 15 | $2.9M | 4.6% | 10 | +5 |
| 6 | South Dakota Development Corporation | 504 | 13 | $6.5M | 4.0% | 8 | +5 |
| 7 | Highmark FCU | 7(a) | 12 | $1.3M | 3.7% | 7 | +5 |
| 8 | Red River State Bank | 7(a) | 8 | $8.6M | 2.4% | 0 | new |
| 9 | Wells Fargo Bank National Association | 7(a) | 8 | $5.7M | 2.4% | 6 | +2 |
| 10 | Pioneer Bank & Trust | 7(a) | 7 | $1.4M | 2.1% | 4 | +3 |
| 11 | Byline Bank | 7(a) | 5 | $8.9M | 1.5% | 1 | +4 |
| 12 | First Interstate Bank | 7(a) | 5 | $3.4M | 1.5% | 10 | -5 |
| 13 | Minnwest Bank | 7(a) | 5 | $1.4M | 1.5% | 3 | +2 |
| 14 | Security Savings Bank | 7(a) | 5 | $534K | 1.5% | 3 | +2 |
| 15 | U.S. Bank, National Association | 7(a) | 5 | $155K | 1.5% | 9 | -4 |
| 16 | Dacotah Bank | 7(a) | 4 | $1.2M | 1.2% | 10 | -6 |
| 17 | Live Oak Banking Company | 7(a) | 2 | — | 0.6% | 0 | new |
| 18 | Celtic Bank Corporation | 7(a) | 2 | — | 0.6% | 0 | new |
| 19 | Midwest Business Finance Corporation | 504 | 2 | — | 0.6% | 2 | 0 |
| 20 | Old National Bank | 7(a) | 2 | — | 0.6% | 0 | new |
| 21 | Security First Bank | 7(a) | 2 | — | 0.6% | 0 | new |
| 22 | First Dakota National Bank | 7(a) | 2 | — | 0.6% | 6 | -4 |
| 23 | Reliabank Dakota | 7(a) | 2 | — | 0.6% | 0 | new |
| 24 | BankStar Financial | 7(a) | 2 | — | 0.6% | 0 | new |
| 25 | United Prairie Bank | 7(a) | 2 | — | 0.6% | 0 | new |
| 26 | Lake Agassiz Certified Development Company | 504 | 2 | — | 0.6% | 1 | +1 |
| 27 | The Huntington National Bank | 7(a) | 2 | — | 0.6% | 1 | +1 |
| 28 | First PREMIER Bank | 7(a) | 2 | — | 0.6% | 8 | -6 |
| 29 | First Savings Bank | 7(a) | 2 | — | 0.6% | 2 | 0 |
| 30 | Platinum Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 31 | GBC International Bank | 7(a) | 1 | — | 0.3% | 2 | -1 |
| 32 | First Western SBLC, LLC | 7(a) | 1 | — | 0.3% | 0 | new |
| 33 | FDIC - Community Bank & Trust-West Georgia | 7(a) | 1 | — | 0.3% | 0 | new |
| 34 | T Bank, National Association | 7(a) | 1 | — | 0.3% | 0 | new |
| 35 | SouthState Bank, National Association | 7(a) | 1 | — | 0.3% | 0 | new |
| 36 | Siouxland Economic Development Corporation | 504 | 1 | — | 0.3% | 0 | new |
| 37 | First Fidelity Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 38 | BankFirst | 7(a) | 1 | — | 0.3% | 0 | new |
| 39 | Bank Midwest | 7(a) | 1 | — | 0.3% | 0 | new |
| 40 | First National Bank of Omaha | 7(a) | 1 | — | 0.3% | 2 | -1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Minnehaha County | 93 | $52.6M | 28.4% | 84 | +9 |
| 2 | Pennington County | 57 | $29.1M | 17.4% | 55 | +2 |
| 3 | Lincoln County | 48 | $21.5M | 14.6% | 29 | +19 |
| 4 | Lawrence County | 23 | $7.1M | 7.0% | 14 | +9 |
| 5 | Codington County | 12 | $14.3M | 3.7% | 6 | +6 |
| 6 | Davison County | 9 | $7.5M | 2.7% | 1 | +8 |
| 7 | Brown County | 9 | $2.8M | 2.7% | 9 | 0 |
| 8 | Union County | 8 | $9.9M | 2.4% | 6 | +2 |
| 9 | Spink County | 7 | $1.9M | 2.1% | 1 | +6 |
| 10 | Meade County | 7 | $2.3M | 2.1% | 5 | +2 |
| 11 | Stanley County | 7 | $2.7M | 2.1% | 1 | +6 |
| 12 | Brookings County | 6 | $2.5M | 1.8% | 4 | +2 |
| 13 | Deuel County | 5 | $2.9M | 1.5% | 1 | +4 |
| 14 | Clay County | 4 | $826K | 1.2% | 1 | +3 |
| 15 | Custer County | 4 | $1.7M | 1.2% | 7 | -3 |
| 16 | Yankton County | 3 | $722K | 0.9% | 6 | -3 |
| 17 | Beadle County | 3 | $1.4M | 0.9% | 0 | new |
| 18 | Grant County | 3 | $8.8M | 0.9% | 0 | new |
| 19 | Hughes County | 2 | — | 0.6% | 4 | -2 |
| 20 | Marshall County | 2 | — | 0.6% | 0 | new |
| 21 | Hutchinson County | 2 | — | 0.6% | 1 | +1 |
| 22 | McCook County | 2 | — | 0.6% | 0 | new |
| 23 | Kingsbury County | 2 | — | 0.6% | 1 | +1 |
| 24 | Hamlin County | 2 | — | 0.6% | 0 | new |
| 25 | Miner County | 2 | — | 0.6% | 0 | new |
| 26 | Lake County | 1 | — | 0.3% | 3 | -2 |
| 27 | Aurora County | 1 | — | 0.3% | 2 | -1 |
| 28 | Butte County | 1 | — | 0.3% | 1 | 0 |
| 29 | Walworth County | 1 | — | 0.3% | 0 | new |
| 30 | Moody County | 1 | — | 0.3% | 1 | 0 |
| 31 | Mellette County | 1 | — | 0.3% | 0 | new |
FY2021 against FY2020
| South Dakota | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 159 | 163 |
| 7(a) dollars | $77.6M | $52.2M |
| Median 7(a) approval | $172K | $150K |
| 504 approvals | 169 | 98 |
| 504 dollars | $104M | $53.1M |
| Jobs supported, as reported | 2,974 | 2,215 |
Questions and answers
Which lenders made the most SBA loans in South Dakota in FY2021?
Dakota Business Finance (95), Ally Dakota Development, Inc. (56), Black Hills FCU (20), The First National Bank in Sioux Falls (20), First National Bank (15). 48 lenders had at least one approval.
How many SBA loans were approved in South Dakota in FY2021?
328: 159 under 7(a) worth $77.6M and 169 under 504 worth $104M.
Which South Dakota counties had the most SBA approvals in FY2021?
Minnehaha County (93), Pennington County (57), Lincoln County (48), Lawrence County (23), Codington County (12).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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