First Bank & Trust: SBA Lending Profile
First Bank & Trust is an FDIC-insured bank, headquartered in Brookings, SD. It is active in 5 states, concentrated around MN, SD, IA. Everything below comes from federal SBA loan records, not from the lender's marketing. This is what it has actually funded.
Loan sizes First Bank & Trust actually approves
The median SBA approval at First Bank & Trust is $400,000. The middle 80% of its loans fall between $99,320 and $1,995,860. The smallest funded approval in the available source window is $15,000 and the largest is $5,000,000. If the amount you need sits far outside that range, this is probably not the right first call, no matter what the website says.
Programs
| Program | Loans FY25-26 | Median size | Median rate | Median term |
|---|---|---|---|---|
| SBA 7(a) | 83 | $400K | 9% | 10 years |
| 504 first mortgage (third party) | 9 | $550K | n/a | 20 years |
Industries it funds most
| Industry | Funded loans in source data | Share |
|---|---|---|
| Limited-Service Restaurants | 12 | 6.4% |
| Fitness and Recreational Sports Centers | 8 | 4.3% |
| Snack and Nonalcoholic Beverage Bars | 7 | 3.7% |
| Full-Service Restaurants | 7 | 3.7% |
| Coin-Operated Laundries and Drycleaners | 6 | 3.2% |
| All Other Personal Services | 6 | 3.2% |
| General Automotive Repair | 5 | 2.7% |
| Child Day Care Services | 4 | 2.1% |
| Sports and Recreation Instruction | 4 | 2.1% |
| Clothing and Clothing Accessories Retailers | 4 | 2.1% |
| Site Preparation Contractors | 3 | 1.6% |
| Offices of Dentists | 3 | 1.6% |
How fast First Bank & Trust actually funds
Approval is not money in the bank. Across 176 loans where both dates are on record, the typical gap between SBA approval and first disbursement at First Bank & Trust is 9 days. Half its loans fund between 4 and 23 days. That is fast. The typical SBA lender takes about 20 days, and many take far longer.
Lending momentum
First Bank & Trust is expanding its SBA program. Approvals are up 46.2% from FY2023 to FY2025, which usually means an active appetite and a team that wants deals.
Funded approvals by SBA fiscal year (October to September). FY2026 is excluded because it is still in progress.
Conventional small business lending, beyond SBA
SBA loans are a fraction of most banks' small business lending. Under the Community Reinvestment Act, First Bank & Trust reported 1,315 small business loan originations in 2024, totaling $204M, at an average of about $155K per loan across 35 states. 53.9% of those loans went to businesses with under $1M in annual revenue.
Borrower profile
- 40.1% of its funded SBA records with known business age went to startups or businesses under two years old, which is high, most SBA lenders skew heavily toward established companies.
- Collateral was taken on 100% of its recent SBA loans.
- 15% of its SBA lending is revolving lines of credit rather than term loans.
- 22.5% of its loans carry fixed rates; the rest are variable.
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Sources and limits. Figures are derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records (data as of 2026-06-30, retrieved 2026-08-08) and FDIC public institution data. Conventional small business lending figures from FFIEC CRA disclosure data (2024 activity year); CRA loan counts include business credit card originations at some institutions. Funding speed is the median gap between approval date and first disbursement date in SBA records. Some lenders report disbursement at month end, which can round the figure upward. They describe past lending activity only. They are not rate quotes, not current offers, and not an indication that any business will qualify. Lender programs and criteria change. Big Brain Funding is not affiliated with or endorsed by First Bank & Trust.