Lending data
Who actually lends to administrative and support businesses in South Dakota?
28 SBA 7(a) loans went to administrative and support businesses in South Dakota recently, at a median of $128,100. Here are the lenders that made them, ranked.
28 SBA 7(a) loans went to administrative and support businesses in South Dakota in the most recent fiscal years. The median was $128,100 over 10 years. The most active lender was Black Hills FCU, with 5 loans.
What lending to administrative and support businesses in South Dakota actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Administrative and support services, South Dakota | All 7(a) borrowers |
|---|---|---|
| Loans approved | 28 | 214,102 |
| Median loan | $128,100 | $150,000 |
| 25th - 75th percentile | $62,625 - $333,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.12% | 10.25% |
| Share to startups | 60.7% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 5.9% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to administrative and support businesses in South Dakota. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Black Hills FCU | 5 | $106,200 | 60% | 9.25% |
| Heritage Bank Inc | 3 | $988,000 | 0% | 10.25% |
| U.S. Bank | 3 | $7,000 | 100% | 11.99% |
| Levo Federal Credit Union | 2 | $80,250 | 50% | 9.00% |
| United Midwest Savings Bank | 2 | $150,000 | 100% | 11.00% |
| The First National Bank in Sioux Falls | 2 | $80,000 | 50% | 8.20% |
| American Bank and Trust | 2 | $2,615,000 | 0% | 8.88% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $128,100 is 15% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- New businesses do well here. 61% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- No single lender dominates, but the top three made 39% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.12% is 1.13 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 60.7% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| U.S. Bank | 3 | $7,000 | 100% | 11.99% |
| Black Hills FCU | 3 | $106,200 | 60% | 9.25% |
| United Midwest Savings Bank | 2 | $150,000 | 100% | 11.00% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in South Dakota: restaurants and hotels, construction, retail, personal services, healthcare, manufacturing
- Admin Services in comparable states: West Virginia, North Dakota, Wyoming, New Mexico, Montana, Vermont