How many small businesses are in South Dakota?

South Dakota has approximately 92,000 small businesses, representing 99.3 percent of all businesses in the state. They employ 190,000 workers — 51.3 percent of South Dakota's private workforce. Source: SBA Office of Advocacy, 2024 Small Business Profile.

How active is SBA 7(a) lending in South Dakota?

South Dakota received 243 SBA 7(a) loan approvals in FY2024, totaling $97 million. The average loan size was approximately $398,000. Source: SBA FOIA loan dataset, FY2024 aggregate.

Does South Dakota have a commercial financing disclosure law?

No. South Dakota has not enacted a statewide commercial financing disclosure law as of 2026.

What financing products work best for South Dakota small businesses?

Agricultural and ranching businesses use equipment financing and seasonal working capital. Tourism businesses use revenue-based financing. Healthcare practices access SBA 7(a). The right product depends on your industry and revenue.

Is ClearValue Lending available in South Dakota?

Yes. ClearValue Lending routes South Dakota SMB applicants to lender partners operating across Sioux Falls, Rapid City, Aberdeen, Brookings, and statewide. We are a funding platform, not a lender or broker.

What are typical eligibility minimums for South Dakota SMB financing?

SBA 7(a) typically requires 2+ years in business, 650+ FICO, and $150,000+ annual revenue. Revenue-based financing may be available with 500+ FICO, 6+ months in business, and $10,000+ monthly revenue. All financing is subject to lender underwriting.

Small Business Loans in South Dakota

South Dakota has 92,000 small businesses employing 190,000 workers — 51.3 percent of the state's private workforce. In FY2024, South Dakota small businesses received 243 SBA 7(a) loans totaling $97 million, with an average loan size of approximately $398,000. South Dakota's SMB economy is anchored by agriculture (beef cattle, corn, soybeans, dairy), tourism (Mount Rushmore, Badlands National Park, the Sturgis Motorcycle Rally), and a financial services sector that has made South Dakota a national hub for credit card banking due to its favorable banking laws. Data sourced from the SBA Office of Advocacy (advocacy.sba.gov), SBA FOIA loan dataset (data.sba.gov), U.S. Census Bureau (census.gov), and the Federal Reserve Small Business Credit Survey (fedsmallbusiness.org).