Security Savings Bank
Security Savings Bank is an active SBA lender in South Dakota, a bank offering SBA-guaranteed small-business loans. Currently rated 4.2 stars across 5 Google reviews.
$16M
in SBA approvals since 2010
43
SBA loans funded
Manufacturing · Hotels & Lodging · Restaurants & Food Service
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Security Savings Bank
Security Savings Bank offers comprehensive SBA lending solutions tailored to small and medium-sized businesses seeking financial support for growth, equipment, or working capital. With a focus on personalized service, the bank provides SBA 7(a) loans, known for their flexibility and favorable terms, helping clients access funding efficiently. Their team works closely with borrowers to understand their unique needs, guiding them through the application process and ensuring smooth approval. The bank's expertise extends to supporting various industries, with a strong emphasis on community banking and local economic development. Whether you're a startup or an established enterprise, Security Savings Bank aims to facilitate your business ambitions with tailored financial products and dedicated support. Their SBA programs are designed to help businesses leverage government-backed financing to expand operations, purchase real estate, or manage cash flow challenges. The bank prides itself on its commitment to customer service and community involvement, making it a trusted partner for small business owners in the region.
Serves SBA borrowers in 3 states
Security Savings Bank has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Industries Security Savings Bank finances
Business types Security Savings Bank actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about Security Savings Bank
What is this place and what can I find here?
This is a local bank offering SBA loan programs and personalized financial services to small businesses in the community. You can find assistance with business loans, real estate financing, and growth capital tailored to your needs.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated service, but walk-ins are also welcome during business hours for general inquiries and support.
What are the hours of operation?
Security Savings Bank operates Monday through Friday from 8:00 AM to 5:00 PM CT. Please confirm current hours with the bank before visiting.
Is there a fee to use this?
There are no fees for initial consultations; however, certain loan processing or application fees may apply depending on the services used.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local residents and small business owners within the region, but eligibility for specific programs may vary.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 650 is generally preferred, though higher scores improve approval chances.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes 2 to 4 weeks, depending on the complexity of the loan and completeness of documentation.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Security Savings Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Security Savings Bank to confirm current weekend availability before you go.
How do I get there and where do I park?
Security Savings Bank is located in South Dakota — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for Security Savings Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Security Savings Bank itself, which runs its own lending under its own ownership. If you work at Security Savings Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Security Savings Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Security Savings Bank before applying. If you represent Security Savings Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Security Savings Bank by phone at (605) 987-4363 or online at bankwithssb.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Security Savings Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, Security Savings Bank most often finances businesses in transportation & trucking, manufacturing, and salons, spas & personal care. This reflects Security Savings Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Security Savings Bank which sectors it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Security Savings Bank participates in SBA Express depends on its specific SBA lending authority. Contact Security Savings Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Security Savings Bank can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
Security Savings Bank's business lending team works with the SBA to help startups and expanding businesses find appropriate loan products. Confirm eligibility requirements with the lender.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Security Savings Bank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Security Savings Bank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Security Savings Bank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Security Savings Bank weighs this case by case under its own policy, so be upfront about your history and ask Security Savings Bank how it evaluates prior bankruptcies.
