SBA Lenders in South Dakota
29 active SBA lenders · 14,314 loans approved · $5.2B total volume
All SBA Lenders in South Dakota
| Lender | City | Loans | Total Volume | Avg Loan | Preferred |
|---|---|---|---|---|---|
| Wells Fargo Bank National Association | Sioux Falls | 11,784 | $3.2B | $268K | ⭐ |
| The Bancorp Bank National Association | Sioux Falls | 854 | $743.6M | $871K | ⭐ |
| Pathward National Association | SIOUX FALLS | 423 | $615.3M | $1.5M | ⭐ |
| Citibank, N.A. | Sioux Falls | 276 | $153.0M | $554K | ⭐ |
| First Bank & Trust | BROOKINGS | 183 | $139.7M | $763K | ⭐ |
| The First National Bank in Sioux Falls | Sioux Falls | 117 | $32.9M | $281K | — |
| First Savings Bank | Beresford | 117 | $30.5M | $261K | — |
| Black Hills FCU | Rapid City | 104 | $23.7M | $228K | — |
| First National Bank | OLDHAM | 93 | $30.3M | $325K | — |
| 1st Financial Bank USA | DAKOTA DUNES | 87 | $169.6M | $1.9M | — |
| Highmark FCU | RAPID CITY | 46 | $6.2M | $134K | — |
| CorTrust Bank National Association | MITCHELL | 42 | $12.4M | $296K | — |
| Dacotah Bank | ABERDEEN | 38 | $20.4M | $536K | — |
| Pioneer Bank & Trust | BELLE FOURCHE | 31 | $8.3M | $267K | — |
| Security Savings Bank | CANTON | 28 | $5.1M | $181K | — |
| Levo Federal Credit Union | Sioux Falls | 26 | $1.4M | $55K | — |
| First PREMIER Bank | SIOUX FALLS | 16 | $2.2M | $136K | — |
| First Dakota National Bank | YANKTON | 14 | $7.2M | $515K | ⭐ |
| American Bank and Trust | Sioux Falls | 9 | $8.8M | $977K | — |
| Sentinel FCU | Ellsworth AFB | 4 | $622K | $155K | — |
| Reliabank Dakota | ESTELLINE | 4 | $2.8M | $711K | — |
| One American Bank | Centerville | 3 | $760K | $253K | — |
| BankWest, Inc | PIERRE | 3 | $1.4M | $483K | — |
| BankStar Financial | Elkton | 3 | $879K | $293K | — |
| Campbell County Bank | HERREID | 2 | $688K | $344K | — |
| Voyage Federal Credit Union | SIOUX FALLS | 2 | $266K | $133K | — |
| Plains Commerce Bank | Sioux Falls | 2 | $434K | $217K | — |
| Black Hills Community Bank, National Association | RAPID CITY | 2 | $666K | $333K | — |
| First Fidelity Bank | BURKE | 1 | $700K | $700K | — |
Finding an SBA Lender in South Dakota
There are currently 29 SBA-approved lenders headquartered in South Dakota, ranging from national banks to local community lenders. Together they have approved 14,314 SBA 7(a) loans totaling $5.2B since 2020.
Of these, 6 are SBA Preferred Lenders — meaning they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing and funding.
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SBA Lender Questions for South Dakota
How many SBA lenders are in South Dakota?
There are currently 29 SBA-approved lenders headquartered in South Dakota. Together they have approved 14,314 SBA 7(a) loans totaling $5.2B since 2020. Of these, 6 hold SBA Preferred Lender status, allowing them to approve loans without prior SBA review.
What is an SBA Preferred Lender in South Dakota?
An SBA Preferred Lender (PLP) in South Dakota is a bank or financial institution that has earned delegated authority from the SBA to approve loans independently — without waiting for SBA review. This results in faster approvals (often 7–10 business days vs. 4–6 weeks) and a more streamlined process. South Dakota currently has 6 Preferred Lenders.
How do I choose the best SBA lender in South Dakota?
When choosing an SBA lender in South Dakota, consider three factors: (1) Preferred Lender status — these lenders close loans faster; (2) loan volume — lenders with higher approval counts have more SBA experience; (3) average loan size — find a lender whose typical deal size matches your needs. Our directory shows real SBA loan data for all 29 South Dakota lenders so you can compare objectively.
How long does SBA loan approval take in South Dakota?
With an SBA Preferred Lender in South Dakota, approval typically takes 7–10 business days. Non-preferred lenders require SBA review, adding 2–4 weeks. After approval, funding usually takes an additional 2–4 weeks, so total time from application to funding is typically 30–90 days depending on the lender and loan complexity.