First Bank & Trust
BROOKINGS, SD 57006
⭐ SBA Preferred LenderStates Served
Top Industries Financed
- Limited-Service Restaurants
- Fitness and Recreational Sports Centers
- Snack and Nonalcoholic Beverage Bars
- Coin-Operated Laundries and Drycleaners
- All Other Personal Services
Quick Summary
First Bank & Trust is an SBA-approved lender headquartered in BROOKINGS, South Dakota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 183 SBA 7(a) loans totaling $139.7M, with an average loan size of $763K. They serve businesses across 5 states.
About First Bank & Trust
First Bank & Trust is an SBA-approved lender headquartered in BROOKINGS, South Dakota. Since 2020, they have approved 183 SBA 7(a) loans totaling $139.7M, with an average loan size of $763K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 5 states.
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Frequently Asked Questions
Is First Bank & Trust an SBA Preferred Lender?
Yes, First Bank & Trust is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has First Bank & Trust approved?
According to SBA FOIA public records, First Bank & Trust has approved 183 SBA 7(a) loans totaling $139.7M since 2020. Their average loan size is $763K.
What states does First Bank & Trust serve?
First Bank & Trust serves businesses in 5 states: Iowa, Minnesota, Nebraska, South Dakota, Wisconsin.
How do I apply for an SBA loan with First Bank & Trust?
To apply for an SBA 7(a) loan with First Bank & Trust, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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