SBA lending by metro area
SBA lenders in Sioux Falls, SD
Which lenders fund Sioux Falls-area businesses, how much, and how the market compares with South Dakota: SBA 7(a) and 504 loans, FY2010–2026.
By Mario Bailey · SBA FOIA data as of 2026-03-31
Top SBA lenders in the Sioux Falls area
Ranked by SBA volume funded to businesses located in the Sioux Falls metropolitan area, wherever the lender is headquartered. National SBA lenders that fund here are included.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | Dakota Business Finance | 436 | $300.7M | $690K | not reported |
| 2 | The First National Bank in Sioux Falls | 170 | $50.1M | $295K | 2.94% |
| 3 | South Dakota Development Corporation | 69 | $48.9M | $709K | not reported |
| 4 | Ally Dakota Development, Inc. | 51 | $35.8M | $702K | not reported |
| 5 | Wells Fargo Bank National Association | 104 | $29.3M | $281K | 5.77% |
| 6 | Midwest Business Finance Corporation | 49 | $28.6M | $584K | not reported |
| 7 | Minnwest Bank | 76 | $27.9M | $367K | 3.95% |
| 8 | First Bank & Trust | 44 | $25.7M | $584K | 4.55% |
| 9 | First Interstate Bank | 83 | $16.3M | $196K | 4.82% |
| 10 | Dacotah Bank | 27 | $12.3M | $456K | 3.70% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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How Sioux Falls compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Sioux Falls area | $200K ▼ 6.5% | 38.5% ▲ 4.0 pts |
| South Dakota | $214K | 34.5% |
| United States | $179K | 11.2% |
What gets funded in Sioux Falls
| Industry | Loans | Total funded |
|---|---|---|
| Accommodation and Food Services | 208 | $131.5M |
| Manufacturing | 142 | $104.8M |
| Retail Trade | 210 | $97.7M |
| Health Care and Social Assistance | 172 | $68.5M |
| Other Services | 167 | $55.1M |
| Construction | 173 | $52.3M |
| Wholesale Trade | 73 | $44.6M |
| Arts, Entertainment, Recreation | 72 | $33.5M |
SBA lending in Sioux Falls by year
Geography, precisely
"Sioux Falls area" here means the Sioux Falls, SD-MN metropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Lincoln County, SD; McCook County, SD; Minnehaha County, SD; Rock County, MN; Turner County, SD. Loans are placed by the SBA's recorded project county, which can differ from a borrower's mailing address. Counts are SBA 7(a) and 504 funded loans, FY2010–2026, as of 2026-03-31. See the methodology.