SBA loans in South Dakota, FY2025

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 FY2025 (1 October 2024 to 30 September 2025) SBA approved 270 loans in South Dakota: 175 under 7(a) and 95 under 504, worth $162M.

That is up 21% on FY2024, when there were 223 approvals worth $119M.

South Dakota accounted for 0.3% of the 84,840 approvals nationwide that year. 46 lenders had at least one approval in the state; Dakota Business Finance had the most, 52.

270approvalsFY2024: 223

$162Mdollars approvedFY2024: $119M

$150Kmedian 7(a) approvalFY2024: $131K

46lenders with an approval

2,467jobs 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 FY2025, of 46 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2024	Change
1	Dakota Business Finance	504	52	$46.4M	19.3%	37	+15
2	South Dakota Development Corporation	504	24	$17.8M	8.9%	21	+3
3	First Bank & Trust	7(a)	23	$14.0M	8.5%	15	+8
4	The First National Bank in Sioux Falls	7(a)	22	$11.2M	8.1%	25	-3
5	Northeast Bank	7(a)	20	$2.9M	7.4%	5	+15
6	U.S. Bank, National Association	7(a)	20	$1.1M	7.4%	15	+5
7	Levo Federal Credit Union	7(a)	18	$1.1M	6.7%	4	+14
8	Ally Dakota Development, Inc.	504	16	$11.6M	5.9%	13	+3
9	The Huntington National Bank	7(a)	6	$1.1M	2.2%	4	+2
10	Readycap Lending, LLC	7(a)	6	$888K	2.2%	4	+2
11	First Interstate Bank	7(a)	5	$1.2M	1.9%	10	-5
12	Stearns Bank National Association	7(a)	4	$903K	1.5%	1	+3
13	Newtek Bank, National Association	7(a)	4	$770K	1.5%	3	+1
14	Live Oak Banking Company	7(a)	3	$5.5M	1.1%	2	+1
15	Black Hills FCU	7(a)	3	$1.1M	1.1%	19	-16
16	Highmark FCU	7(a)	3	$770K	1.1%	3	0
17	Wells Fargo Bank National Association	7(a)	3	$40K	1.1%	9	-6
18	Dacotah Bank	7(a)	2	—	0.7%	3	-1
19	American Bank and Trust	7(a)	2	—	0.7%	2	0
20	Reliabank Dakota	7(a)	2	—	0.7%	0	new
21	First Dakota National Bank	7(a)	2	—	0.7%	1	+1
22	First Bank of the Lake	7(a)	2	—	0.7%	0	new
23	Minnwest Bank	7(a)	2	—	0.7%	0	new
24	Bravera Bank	7(a)	2	—	0.7%	0	new
25	United Midwest Savings Bank National Association	7(a)	2	—	0.7%	1	+1
26	Pioneer Bank & Trust	7(a)	2	—	0.7%	4	-2
27	Titan Bank, National Association	7(a)	1	—	0.4%	0	new
28	Everwise Credit Union	7(a)	1	—	0.4%	0	new
29	GBC International Bank	7(a)	1	—	0.4%	1	0
30	CorTrust Bank National Association	7(a)	1	—	0.4%	0	new
31	Farmers State Bank of Alto Pass, Illinois	7(a)	1	—	0.4%	0	new
32	VelocitySBA, LLC	7(a)	1	—	0.4%	0	new
33	First National Bank	7(a)	1	—	0.4%	0	new
34	Sunrise Banks National Association	7(a)	1	—	0.4%	0	new
35	Northwest Bank	7(a)	1	—	0.4%	0	new
36	Happen Bank	7(a)	1	—	0.4%	0	new
37	Heritage Bank Inc	7(a)	1	—	0.4%	1	0
38	American Momentum Bank	7(a)	1	—	0.4%	0	new
39	Lake Agassiz Certified Development Company	504	1	—	0.4%	0	new
40	Midwest Business Finance Corporation	504	1	—	0.4%	1	0

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2024	Change
1	Minnehaha County	90	$60.5M	33.3%	77	+13
2	Lincoln County	37	$17.7M	13.7%	24	+13
3	Pennington County	33	$18.7M	12.2%	39	-6
4	Lawrence County	16	$9.6M	5.9%	10	+6
5	Brookings County	12	$6.5M	4.4%	9	+3
6	Brown County	9	$7.0M	3.3%	1	+8
7	Hughes County	7	$11.0M	2.6%	2	+5
8	Meade County	7	$5.0M	2.6%	4	+3
9	Codington County	6	$3.8M	2.2%	17	-11
10	McCook County	6	$1.7M	2.2%	2	+4
11	Clay County	5	$1.8M	1.9%	2	+3
12	Turner County	5	$778K	1.9%	4	+1
13	Custer County	5	$2.9M	1.9%	3	+2
14	Grant County	5	$845K	1.9%	0	new
15	Spink County	3	$1.2M	1.1%	0	new
16	Davison County	3	$1.1M	1.1%	4	-1
17	Union County	3	$3.1M	1.1%	2	+1
18	Potter County	3	$868K	1.1%	0	new
19	Lake County	2	—	0.7%	1	+1
20	Butte County	2	—	0.7%	6	-4
21	Fall River County	2	—	0.7%	1	+1
22	Beadle County	2	—	0.7%	2	0
23	Hamlin County	1	—	0.4%	3	-2
24	Deuel County	1	—	0.4%	1	0
25	Moody County	1	—	0.4%	1	0
26	Bon Homme County	1	—	0.4%	0	new
27	Douglas County	1	—	0.4%	0	new
28	Corson County	1	—	0.4%	0	new
29	Hyde County	1	—	0.4%	0	new

FY2025 against FY2024

South Dakota	FY2025	FY2024
7(a) approvals	175	151
7(a) dollars	$84.0M	$62.1M
Median 7(a) approval	$150K	$131K
504 approvals	95	72
504 dollars	$77.6M	$57.3M
Jobs supported, as reported	2,467	1,636

Questions and answers

Which lenders made the most SBA loans in South Dakota in FY2025?

Dakota Business Finance (52), South Dakota Development Corporation (24), First Bank & Trust (23), The First National Bank in Sioux Falls (22), Northeast Bank (20). 46 lenders had at least one approval.

How many SBA loans were approved in South Dakota in FY2025?

270: 175 under 7(a) worth $84.0M and 95 under 504 worth $77.6M.

Which South Dakota counties had the most SBA approvals in FY2025?

Minnehaha County (90), Lincoln County (37), Pennington County (33), Lawrence County (16), Brookings County (12).

When does FY2025 start and end?

The federal fiscal year 2025 runs from 1 October 2024 to 30 September 2025.

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