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SBA lenders in Watertown, SD

SBA 7(a) and 504 loans to businesses in Watertown (Codington County), October 2021 to June 30, 2026 · Updated October 15, 2026
43
SBA loans approved
$23.8M
Total approved
$321,500
Median loan
17
Lenders active
23%
To startups

43 SBA loans worth $23.8M went to businesses in Watertown, SD between October 2021 and June 2026, from 17 lenders. Ally Dakota Development made the most, 11 loans. The median loan was $321,500, compared with $289,000 across South Dakota, and wholesale trade was the most financed industry.

Most active SBA lenders in Watertown

#LenderLoansApprovedMedian loanTo startups
1Ally Dakota Development
Certified development company · Rapid City, SD
11$4.3M$309,00018%
2First Bank & Trust
Bank · Brookings, SD
6$6.9M$763,90017%
3Wells Fargo Bank
Bank · Sioux Falls, SD
5$2.2M$15,00080%
4Dakota Business Finance
Certified development company · Sioux Falls, SD
3$3.0M$1,017,00033%
5BankWest
Bank · Pierre, SD
3$1.4M$400,0000%
6U.S. Bank
Bank · Cincinnati, OH
2$1.1M$557,7500%
7Huntington National Bank
Bank · Columbus, OH
2$766K$383,0000%
8First National Bank in Sioux Falls
Bank · Sioux Falls, SD
2$762K$380,7500%
9Customers Bank
Bank · Malvern, PA
1$1.1M$1,110,0000%
10South Dakota Development
Certified development company · Sioux Falls, SD
1$762K$762,0000%
11Newtek Bank
Bank · Miami, FL
1$300K$300,0000%
12Prairie Sun Bank
Bank · Milan, MN
1$285K$285,0000%
13Dacotah Bank
Bank · Aberdeen, SD
1$200K$200,000100%
14Scale Bank
Bank · Edina, MN
1$198K$198,4000%
15CenTrust Bank, A Division of SmartBiz Bank
Bank · Northbrook, IL
1$150K$150,0000%
7(a) and 504 lenders combined, ranked by number of loans to businesses in Watertown. For 504 loans the lender shown is the certified development company.

What gets financed in Watertown

IndustryLoansShareMedian loanMost active lender
Wholesale trade7
16%
$388,000BankWest
Retail6
14%
$308,500Wells Fargo Bank
Construction5
12%
$261,500First National Bank in Sioux Falls
Other services (repair, personal care)5
12%
$935,500U.S. Bank
Manufacturing5
12%
$200,000Huntington National Bank
Restaurants and hotels4
9%
$617,000Dakota Business Finance
Health care and social assistance4
9%
$784,500Ally Dakota Development
Arts, entertainment and recreation2
5%
$235,750First PREMIER Bank
Loan size mix
  • Under $150,00019%
  • $150,000 to $500,00047%
  • $500,000 to $2 million30%
  • $2 million and up5%
Compared with South Dakota
Median loan, Watertown
$321,500
Median loan, South Dakota
$289,000
Startup share, Watertown
23%
Startup share, South Dakota
38%
Share of state's SBA loans
4.1%

SBA loans per fiscal year in Watertown

071320FY14: 5 loansFY14FY15: 4 loansFY15FY16: 5 loansFY16FY17: 5 loansFY17FY18: 11 loansFY18FY19: 2 loansFY19FY20: 6 loansFY20FY21: 12 loansFY21FY22: 10 loansFY22FY23: 7 loansFY23FY24: 16 loansFY2416FY25: 6 loansFY25FY26 (Oct to Jun): 4 loansFY264
Fiscal year runs October to September. Fiscal 2026 covers October 2025 to June 2026 only.
Data from the U.S. Small Business Administration's public 7(a) and 504 loan records (through June 30, 2026) and FDIC call-report data (quarter ending June 30, 2026). US Lender Metrics is not affiliated with the SBA, FDIC, FFIEC, NCUA or any lender, is not a lender or loan broker, and does not make credit decisions. Information only; not financial, legal or lending advice. © 2026 US Lender Metrics.