SBA loans in South Dakota, FY2022

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 FY2022 (1 October 2021 to 30 September 2022) SBA approved 219 loans in South Dakota: 117 under 7(a) and 102 under 504, worth $117M.

That is down 33% on FY2021, when there were 328 approvals worth $182M.

South Dakota accounted for 0.4% of the 56,932 approvals nationwide that year. 37 lenders had at least one approval in the state; Dakota Business Finance had the most, 52.

219approvalsFY2021: 328

$117Mdollars approvedFY2021: $182M

$139Kmedian 7(a) approvalFY2021: $172K

37lenders with an approval

1,927jobs 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 37 lenders with the most approvals to South Dakota businesses in FY2022, of 37 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2021	Change
1	Dakota Business Finance	504	52	$44.0M	23.7%	95	-43
2	Ally Dakota Development, Inc.	504	30	$19.2M	13.7%	56	-26
3	South Dakota Development Corporation	504	17	$14.9M	7.8%	13	+4
4	First National Bank	7(a)	12	$2.8M	5.5%	15	-3
5	Black Hills FCU	7(a)	12	$2.2M	5.5%	20	-8
6	Highmark FCU	7(a)	12	$1.5M	5.5%	12	0
7	Wells Fargo Bank National Association	7(a)	11	$220K	5.0%	8	+3
8	First Bank & Trust	7(a)	9	$5.5M	4.1%	0	new
9	The First National Bank in Sioux Falls	7(a)	9	$1.6M	4.1%	20	-11
10	First Interstate Bank	7(a)	6	$5.4M	2.7%	5	+1
11	Pioneer Bank & Trust	7(a)	6	$1.3M	2.7%	7	-1
12	Dacotah Bank	7(a)	5	$1.8M	2.3%	4	+1
13	BankWest, Inc	7(a)	3	$1.4M	1.4%	0	new
14	U.S. Bank, National Association	7(a)	3	$1.1M	1.4%	5	-2
15	First PREMIER Bank	7(a)	3	$480K	1.4%	2	+1
16	United Midwest Savings Bank National Association	7(a)	3	$340K	1.4%	0	new
17	Midwest Business Finance Corporation	504	2	—	0.9%	2	0
18	TowneBank	7(a)	2	—	0.9%	0	new
19	First Dakota National Bank	7(a)	2	—	0.9%	2	0
20	Minnwest Bank	7(a)	2	—	0.9%	5	-3
21	Bank Midwest	7(a)	2	—	0.9%	1	+1
22	GBC International Bank	7(a)	1	—	0.5%	1	0
23	Live Oak Banking Company	7(a)	1	—	0.5%	2	-1
24	Siouxland Economic Development Corporation	504	1	—	0.5%	1	0
25	Heritage Bank, National Association	7(a)	1	—	0.5%	1	0
26	First Savings Bank	7(a)	1	—	0.5%	2	-1
27	Simmons Bank	7(a)	1	—	0.5%	0	new
28	BMO Bank National Association	7(a)	1	—	0.5%	0	new
29	Campbell County Bank	7(a)	1	—	0.5%	0	new
30	Cornerstone Bank	7(a)	1	—	0.5%	1	0
31	Newtek Small Business Finance, Inc.	7(a)	1	—	0.5%	1	0
32	BayFirst National Bank	7(a)	1	—	0.5%	0	new
33	Premier Bank	7(a)	1	—	0.5%	0	new
34	Viking Bank National Association	7(a)	1	—	0.5%	0	new
35	Celtic Bank Corporation	7(a)	1	—	0.5%	2	-1
36	Northeast Bank	7(a)	1	—	0.5%	0	new
37	Security Savings Bank	7(a)	1	—	0.5%	5	-4

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2021	Change
1	Minnehaha County	78	$51.1M	35.6%	93	-15
2	Pennington County	38	$19.1M	17.4%	57	-19
3	Lincoln County	18	$8.4M	8.2%	48	-30
4	Lawrence County	14	$6.1M	6.4%	23	-9
5	Meade County	11	$3.3M	5.0%	7	+4
6	Codington County	10	$6.1M	4.6%	12	-2
7	Brookings County	9	$5.0M	4.1%	6	+3
8	Butte County	6	$1.2M	2.7%	1	+5
9	Yankton County	5	$4.6M	2.3%	3	+2
10	Davison County	4	$1.1M	1.8%	9	-5
11	Union County	4	$4.0M	1.8%	8	-4
12	Custer County	4	$693K	1.8%	4	0
13	Hughes County	3	$1.6M	1.4%	2	+1
14	Brown County	2	—	0.9%	9	-7
15	Grant County	2	—	0.9%	3	-1
16	Lake County	1	—	0.5%	1	0
17	Marshall County	1	—	0.5%	2	-1
18	Hutchinson County	1	—	0.5%	2	-1
19	Fall River County	1	—	0.5%	0	new
20	McCook County	1	—	0.5%	2	-1
21	Roberts County	1	—	0.5%	0	new
22	Beadle County	1	—	0.5%	3	-2
23	Faulk County	1	—	0.5%	0	new
24	Potter County	1	—	0.5%	0	new
25	Pine Ridge County	1	—	0.5%	0	new
26	Jones County	1	—	0.5%	0	new

FY2022 against FY2021

South Dakota	FY2022	FY2021
7(a) approvals	117	159
7(a) dollars	$35.3M	$77.6M
Median 7(a) approval	$139K	$172K
504 approvals	102	169
504 dollars	$81.4M	$104M
Jobs supported, as reported	1,927	2,974

Questions and answers

Which lenders made the most SBA loans in South Dakota in FY2022?

Dakota Business Finance (52), Ally Dakota Development, Inc. (30), South Dakota Development Corporation (17), First National Bank (12), Black Hills FCU (12). 37 lenders had at least one approval.

How many SBA loans were approved in South Dakota in FY2022?

219: 117 under 7(a) worth $35.3M and 102 under 504 worth $81.4M.

Which South Dakota counties had the most SBA approvals in FY2022?

Minnehaha County (78), Pennington County (38), Lincoln County (18), Lawrence County (14), Meade County (11).

When does FY2022 start and end?

The federal fiscal year 2022 runs from 1 October 2021 to 30 September 2022.

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