Feasibility Study Data for the Rapid City, SD Metro Area

How big the Rapid City record is

Across Rapid City, SBA's files record 474 approved loans over FY2017 through FY2026, worth $211.9 million in gross dollars. Rapid City sits within the full set of areas, on volume, in position 173 of 928. The middle half of Rapid City loans runs from $68,050 to $538,625, beside a typical loan of $235,350; and the median sits at 1.13x the nationwide median. Split by program, Rapid City shows 325 loans under 7(a) and 149 under 504. Franchises make up 9.9% of the record.

Rapid City: businesses and places

Further, across the tracked classes we break out for Rapid City, the leader is hotel and motel with 22 loans, ahead of full-service restaurant, 17 loans and rv park and campground, 15 loans. Another 309 loans in Rapid City fall outside the classes. By county, Pennington County, SD holds 372 loans, and behind it come Meade County, SD (68) and Custer County, SD (34).

Rapid City: holders of record

Lenders named for Rapid City are copied from SBA's public Rapid City records of the 474 loans in Rapid City, by present or former holder; such records log each file and say nothing of lender terms. Beyond that, for Rapid City loans under 7(a), SBA lists Black Hills FCU (98 loans, $20.0 million), followed by Highmark FCU ($6.9 million across 45 loans). On 504 in Rapid City, SBA names Ally Dakota Development, Inc. at 117 loans and $73.2 million; next, Dakota Business Finance, holding 21 loans worth $15.7 million. An applicant in Rapid City should build the study around its own evidence, since any institution may end up holding the loan.

Rapid City: cancellations and charge-offs

Looking at Rapid City approvals from FY2017 through FY2024, at least 9.7% ended in cancellation after approval in Rapid City, a floor; the full Rapid City share is no lower. Also, Loan Analytics prints no charge-off figure for Rapid City borrowers, since under 30 Rapid City loans funded in the cohort. That omission, in Pennington County, SD, is not to be taken as a spotless record. Worth noting, by year, Rapid City crested in FY2021 at 68 loans and $33.0 million, and bottomed out in FY2026 at 27 loans and $14.8 million.

Rapid City: the tests ahead

In Rapid City, demand comes first: who passes in Pennington County, SD, who travels in Meade County, SD, how that compares with the rest of Rapid City, and whether the 22 hotel and motel loans leave room. Budget: $235,350 is the Rapid City median and $68,050 to $538,625 the central range, so a Pennington County, SD site must price itself against that $235,350 midpoint. Coverage: Rapid City cash flow outlasts a sluggish year against the 9.7% cancellation rate plus the charge-off floor for Rapid City, which is also kept back on a thin cohort. The appraisal for Rapid City must back the worth lent against. Rapid City uses the 2023 July area map; any loan whose listed county fails to match is excluded from any area, Rapid City no exception, and the totals retain loans outside the named classes.