Last annual update:
Mostly South Dakota-based banks were among the largest lenders to “Mount Rushmore State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top 10 SBA Lenders in South Dakota:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Wells Fargo | Sioux Falls, SD | 14 | $445,936 | 7.6% |
| 2 | Dacotah Bank | Aberdeen, SD | 12 | $240,075 | 6.1% |
| 3 | Great Western Bank | Sioux Falls, SD | 8 | $207,875 | 6.6% |
| 4 | The First National Bank in Sioux Falls | Sioux Falls, SD | 7 | $160,571 | 6.6% |
| 5 | Black Hills FCU | Rapid City, SD | 6 | $94,217 | 6.5% |
| 6 | First National Bank of Omaha | Omaha, NE | 6 | $587,033 | 6.3% |
| 7 | Highmark FCU | Rapid City, SD | 4 | $287,250 | 5.9% |
| 8 | Stearns Bank | Saint Cloud, MN | 3 | $288,667 | 7.6% |
| 9 | U.S. Bank | Cincinnati, OH | 3 | $37,067 | 8.0% |
| 10 | First Savings Bank | Beresford, SD | 2 | $345,550 | 6.1% |