Best South Dakota SBA Lenders & Rates of 2026

Compare 40 SBA lenders in South Dakota. $66.6M funded across 148 businesses. Average rate 9.58%. Get matched free.

Table of Contents

Best South Dakota SBA Lenders & Rates of 2026

$66.6M
Total Funded

148
Loans Approved

$450K
Avg Loan Size

9.58%
Avg Interest Rate

40
Active Lenders

SBA Loans in South Dakota

South Dakota businesses received $66.6M in SBA 7(a) loan approvals across 148 businesses in 2025. With 40 active SBA lenders competing for business in South Dakota, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in South Dakota is $450K, with rates averaging 9.58%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Top SBA Lenders in South Dakota (2025)

Based on official SBA data analyzed by GoSBA Loans, these are the banks that funded the most SBA 7(a) loans to South Dakota businesses:

Rank Lender Volume Loans Avg Rate
1 The First National Bank in Sioux Falls $9.4M 18 8.05%
2 First Bank & Trust $9.4M 18 9.36%
3 Titan Bank, National Association $5.0M 1 8.00%
4 Live Oak Banking Company $4.5M 2 9.00%
5 Everwise Credit Union $3.8M 1 10.00%
6 GBC International Bank $3.0M 1 8.75%
7 Northeast Bank $2.9M 19 11.03%
8 CorTrust Bank National Association $2.8M 1 9.50%
9 Farmers State Bank of Alto Pass, Illinois $2.2M 1 9.25%
10 First Dakota National Bank $2.0M 3 7.90%
11 Reliabank Dakota $1.8M 1 9.00%
12 VelocitySBA, LLC $1.8M 1 10.25%
13 Minnwest Bank $1.7M 3 9.67%
14 First National Bank $1.4M 1 7.75%
15 First Bank of the Lake $1.3M 2 9.88%
16 First Interstate Bank $1.1M 4 9.19%
17 First Savings Bank $1.0M 4 7.25%
18 Northwest Bank $978K 1 8.88%
19 LendingClub Bank, National Association $966K 1 9.50%
20 The Huntington National Bank $847K 5 10.15%

🤝 How to Get an SBA Loan in South Dakota

Many top SBA lenders work primarily through approved SBA loan brokers. This is good news for borrowers:

  • Better Match: Get matched with the right lender for your situation
  • Negotiating Power: Broker relationships can result in better rates
  • Time Savings: One application goes to multiple lenders
  • Expert Guidance: Maximize your approval chances

GoSBA Loans works with lenders across South Dakota and can help you access the best loan programs. Our service is completely free to borrowers.

📞 Get Matched with South Dakota SBA Lenders

Ready to apply for an SBA loan in South Dakota? Our team can help you get matched with the right lender and program for your business.

Looking for SBA lenders in other states? GoSBA Loans works with 75+ SBA lenders nationwide. Contact us to get matched with the best lender for your specific business needs.

Picture of Ishan Jetley

Ishan Jetley

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.
CONTACT US