Top SBA Acquisition Lenders in South Dakota
12 active SBA 7(a) lenders in South Dakota, ranked by loan volume.
Lenders
in South Dakota
Total Volume
Median Rate
Median Loan Size
Top Lenders in South Dakota
Top 12 Lenders in South Dakota
| # | Lender | Loans | Volume | Rate | |
|---|---|---|---|---|---|
| 1 | First Bank & Trust | 4 | $3.6M | P+1.95% | 7.7% |
| 2 | Dacotah Bank | 3 | $14.3M | P+0.00% | 0.0% |
| 3 | Titan Bank, National Association | 2 | $10.0M | P+0.50% | 0.0% |
| 4 | Everwise Credit Union | 2 | $7.5M | P+2.50% | 0.0% |
| 5 | CorTrust Bank National Association | 2 | $5.6M | P+2.00% | 0.0% |
| 6 | Northwest Bank | 2 | $2.0M | P+1.26% | 0.0% |
| 7 | First Dakota National Bank | 2 | $1.1M | P+0.88% | 0.0% |
| 8 | The First National Bank in Sioux Falls | 2 | $796K | P+0.45% | 0.0% |
| 9 | Minnwest Bank | 1 | $1.1M | P+2.63% | 0.0% |
| 10 | Live Oak Bank | 1 | $900K | P+1.50% | 1.3% |
| 11 | Heritage Bank, Inc. | 1 | $830K | P+2.75% | 0.0% |
| 12 | First Commonwealth Bank | 1 | $545K | P+2.25% | 1.4% |
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Customize your search →SBA 7(a) Lending in South Dakota
South Dakota has 12 active SBA 7(a) acquisition lenders that have originated a combined 23 loans totaling $48.3M in volume. The median acquisition loan size in South Dakota is $939K, with a median interest rate of Prime + 1.95% (Prime + spread).
When evaluating SBA lenders in South Dakota, consider loan volume (a proxy for experience), interest rates, and historical default rates. Lenders designated as PLP (Preferred Lender Program) have delegated authority from the SBA to approve loans, which typically results in faster processing times.
Frequently Asked Questions
How many SBA 7(a) lenders are active in South Dakota?
There are currently 12 active SBA 7(a) lenders in South Dakota based on FOIA lending data. These lenders have originated 23 acquisition loans.
What is the typical SBA loan rate in South Dakota?
The median SBA 7(a) acquisition loan rate in South Dakota is Prime + 1.95% (current Prime rate: 6.75%). Rates are typically expressed as Prime plus a spread, with the SBA capping the spread at 3.0% for loans over $250,000.
What is a PLP lender?
A PLP (Preferred Lender Program) lender has been granted delegated authority by the SBA to make credit decisions without prior SBA review. This typically means faster loan processing and approval timelines.
Data source: SBA 7(a) FOIA lending data. Rankings are based on loan count within the selected dimension. Rates shown are median interest rates expressed as Prime + spread. Default rates represent 10-year cumulative default rates. Data is refreshed periodically and may not reflect the most recent lending activity.