South Dakota — PPP Loan Data

South Dakota ranked among the states receiving PPP assistance during the COVID-19 pandemic. In total, the SBA approved 64,079 loans totaling $2.73B to businesses and organizations across the state. The average loan size was $42,587.

Of all approved loans, 63,555 — or 99.2% — received SBA forgiveness totaling $2.71B. Forgiveness means the borrower was not required to repay that portion, having met the program's requirements for maintaining payroll and using funds for qualified expenses such as rent, utilities, and mortgage interest.

Among the largest recipients in South Dakota were EMPIRICAL FOODS, INC. ($9,158,800), COCA-COLA BOTTLING COMPANY HIGH COUNTRY ($9,116,300), and DAKOTA PROVISIONS, LLC ($8,962,400).

Borrowers in South Dakota reported retaining 313,889 jobs through the program, though job counts are self-reported and were not independently verified at the time of application. The state's businesses spanned a wide range of industries, from construction and hospitality to professional services and health care.

The most active industry in South Dakota by loan count was Cattle Ranching and Farming with 16,985 loans totaling $291.6M. This was followed by Oilseed and Grain Farming (9,669 loans).

The most active lender in South Dakota was FIRST INTERSTATE BANK, which originated 4,833 loans worth $290.6M. The top 10 lenders collectively handled a significant portion of the state's total loan volume, reflecting the role of large national banks as primary conduits for PPP funds.

Loans under $150,000 — which make up the majority of loan count — have borrower names withheld under FOIA Exemption 6. Only the approximately 0.0% of loans at or above that threshold have named recipients publicly disclosed.