Feasibility Study Data for the Sioux Falls, SD-MN Metro Area

Sioux Falls: volume, rank and loan size

SBA approved 1,048 loans in Sioux Falls from FY2017 to FY2026, $547.1 million in gross dollars. Sioux Falls sits at 94 of 928 among areas ranked by loans. Sioux Falls loans center on $264,000, the median. Middle half in Sioux Falls: $100,750 to $590,000. The Sioux Falls median sits at 1.27x nationally. Program mix for Sioux Falls: 610 7(a), 438 504. Sioux Falls shows a franchise share of 12.4%. Sioux Falls dollars add to $547.1 million.

Sioux Falls: classes and counties

Sioux Falls class leaders by loans: full-service restaurant (42), limited-service restaurant (32), and child care center (30). Fourth in Sioux Falls is hotel and motel, with 24 loans. 775 Sioux Falls loans sit in no tracked class. Most Sioux Falls credit is general business lending. County placement in Sioux Falls is led by Minnehaha County, SD (727), Lincoln County, SD (269), and Rock County, MN (21). At the other end, McCook County, SD holds 14 loans, a sign that Sioux Falls is not one market.

Sioux Falls: SBA lender records

Lenders named below are the ones SBA now shows as holding the Sioux Falls loans beside their names. Sioux Falls holders under 7(a) include 44 loans at First Bank & Trust ($29.2 million) and 27 loans at Black Hills FCU ($4.5 million). Sioux Falls 504 holders include 66 loans at South Dakota Development Corporation ($48.4 million) and 26 loans at Ally Dakota Development, Inc. ($23.5 million). For a Sioux Falls borrower, these rows give background only. No Sioux Falls row states a holder's terms.

Sioux Falls: floors, and what is withheld

Of Sioux Falls approvals from FY2017 to FY2024, 11.6% were cancelled, a floor. Treating undisbursed Sioux Falls loans as cancelled gives 12.2%, the ceiling. Charged off to date in Sioux Falls: 4.0%, a floor, across 450 disbursed loans of FY2017 to FY2021. The Sioux Falls five-year figure is 2.9%. A lender reading Sioux Falls takes both rates as the least. Sioux Falls history only grows. In Sioux Falls, a county name places each loan. For Sioux Falls, the July 2023 list governs. Sioux Falls omits loans with no county match. The Sioux Falls total includes loans outside the classes.

Sioux Falls: study points

Sioux Falls approvals were thinnest in FY2019 (65 loans, $28.9 million) and heaviest in FY2021 (148 loans, $76.6 million). The first year, FY2017, shows 98 loans and $42.7 million for Sioux Falls. The latest year, FY2026, shows 97 loans and $60.2 million for Sioux Falls. In Sioux Falls, demand testing starts with Minnehaha County, SD and the businesses already serving it. Cost follows in Sioux Falls: site, build and equipment priced against a $264,000 median. Sioux Falls is 1.27x of the national one. A Sioux Falls study runs coverage on a slow ramp. Sioux Falls history of cancellations argues for it. The Sioux Falls appraiser reads local comparables. The Sioux Falls study reconciles them to cost. Absorption near Minnehaha County, SD is tested for Sioux Falls on a slow case. The Sioux Falls study states its limits beside Minnehaha County, SD findings.