The First National Bank in Sioux Falls
The First National Bank in Sioux Falls is an active SBA lender in South Dakota, a bank offering SBA-guaranteed small-business loans. Currently rated 4.0 stars across 24 Google reviews.
$99M
in SBA approvals since 2010
271
SBA loans funded
Restaurants & Food Service · Construction & Contractors · Wholesale & Distribution
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About The First National Bank in Sioux Falls
Offering comprehensive SBA loan services, this commercial bank specializes in supporting small businesses with funding solutions tailored to their needs. Whether you're seeking financing for expansion, equipment, or working capital, they provide expert guidance through the SBA 7(a) program, leveraging their extensive experience in small business lending. Located conveniently at 100 S Phillips Ave in Sioux Falls, they serve a broad range of industries, helping entrepreneurs access the capital necessary to grow and succeed. Their team is committed to simplifying the loan process, providing personalized support from application to approval, and ensuring clients understand all available options. With a focus on building long-term relationships, they aim to be a trusted partner for local businesses seeking financial growth opportunities. Their expertise extends across various sectors, with a particular strength in retail and service industries, making them a go-to resource for small business owners in the region. They support a variety of SBA programs, including the 7(a) and 504, to meet diverse funding needs. Whether you're starting a new venture or expanding an existing one, this bank offers flexible terms and competitive rates designed to help your business thrive.
Serves SBA borrowers in 2 states
The First National Bank in Sioux Falls has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Industries The First National Bank in Sioux Falls finances
Business types The First National Bank in Sioux Falls actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about The First National Bank in Sioux Falls
What is this place and what can I find here?
This is a commercial bank that offers SBA loan programs and small business financing solutions. You can find expert guidance, personalized service, and access to various SBA loan options to support your business growth.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated assistance, but walk-ins are also welcome during business hours for general inquiries.
What are the hours of operation?
The downtown location's lobby operates Monday through Friday, 9:00 AM to 4:30 PM; drive-up service is available 8:00 AM to 5:30 PM Monday through Friday. Confirm current hours and holiday schedules with The First National Bank in Sioux Falls.
Is there a fee to use this?
There are no fees for initial consultations; however, loan processing and application fees may apply depending on the loan type and amount.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local small businesses and residents in the Sioux Falls area, but they also support regional clients seeking SBA financing.
What minimum personal credit score does this bank look for in a guarantor?
Typically, a personal credit score of 640 or higher is preferred, though specific requirements may vary based on the loan and borrower profile.
How long does the traditional underwriting process take from start to close?
The underwriting process generally takes between 30 to 45 days, depending on the complexity of the loan and completeness of the application.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and The First National Bank in Sioux Falls 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 The First National Bank in Sioux Falls to confirm current weekend availability before you go.
How do I get there and where do I park?
The First National Bank in Sioux Falls 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 The First National Bank in Sioux Falls, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by The First National Bank in Sioux Falls itself, which runs its own lending under its own ownership. If you work at The First National Bank in Sioux Falls, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for The First National Bank in Sioux Falls — 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 The First National Bank in Sioux Falls before applying. If you represent The First National Bank in Sioux Falls, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach The First National Bank in Sioux Falls by phone at (605) 335-5200 or online at fnbsf.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 The First National Bank in Sioux Falls before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, The First National Bank in Sioux Falls most often finances businesses in restaurants & food service, construction & contractors, general retail, wholesale & distribution, manufacturing, and medical practices & clinics. This reflects The First National Bank in Sioux Falls'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 The First National Bank in Sioux Falls 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 The First National Bank in Sioux Falls participates in SBA Express depends on its specific SBA lending authority. Contact The First National Bank in Sioux Falls 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. The First National Bank in Sioux Falls 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?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. The First National Bank in Sioux Falls's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask The First National Bank in Sioux Falls directly whether it considers start-up loans.
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 The First National Bank in Sioux Falls 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 The First National Bank in Sioux Falls 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 The First National Bank in Sioux Falls 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. The First National Bank in Sioux Falls weighs this case by case under its own policy, so be upfront about your history and ask The First National Bank in Sioux Falls how it evaluates prior bankruptcies.
