Personal loans in Sioux Falls, SD
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Sioux Falls, SD.
The median household in Sioux Falls earns $75,970 a year, about the same as the South Dakota median of $75,081. About 10% of residents live below the federal poverty line, and 40.5% of households rent their home.
South Dakota law that applies in Sioux Falls
| Rate cap | Interest and fees are set by agreement, but total finance charges may not exceed 36% a year, including ancillary products and any fee incident to the loan. |
|---|---|
| License required | Yes. |
| Loan sizes covered | The cap applies to loans of any size made by licensees. |
Full rules with statute citations: Personal Loans in South Dakota. Cities in South Dakota cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Sioux Falls
Lenders that serve Sioux Falls typically ask for the following:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Sioux Falls
What Sioux Falls borrowers use it for
gifts and travel without maxing a card
Medical billspay a doctor, dentist or pharmacy bill now
Moving costsdeposits, trucks and first-week expenses
Need money nowthe fastest options online
Loans for your situation
How to get a personal loan in Sioux Falls
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Sioux Falls
96 FDIC-insured bank branches from 33 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| The First National Bank in Sioux Falls | 12 | 100 S Phillips Ave, Sioux Falls 57104 |
| Wells Fargo Bank, National Association | 8 | 3201 N 4th Ave, Sioux Falls 57104 |
| First Interstate Bank | 7 | 225 S Main Ave, Sioux Falls 57104 |
| First PREMIER Bank | 6 | 500 S Minnesota Ave, Sioux Falls 57104 |
| U.S. Bank National Association | 5 | 2501 S Minnesota Ave, Sioux Falls 57105 |
| CorTrust Bank National Association | 5 | 1900 S Sycamore Ave, Sioux Falls 57110 |
| American Bank & Trust | 4 | 6810 S Minnesota Ave, Sioux Falls 57108 |
| Dacotah Bank | 4 | 1707 S Marion Rd, Sioux Falls 57106 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Sioux Falls
22 credit-union locations from 5 credit unions.
| Credit union | Location |
|---|---|
| Black Hills | 5028 S Marion Rd, Sioux Falls 57106 |
| Levo | 700 E 14Th St, Sioux Falls 57104 |
| Voyage | 5800 E 18Th St Ste 101, Sioux Falls 57110 |
| Service First | 3901 E 10Th St, Sioux Falls 57103 |
| Bluestone | 3400 S Sycamore Ave, Sioux Falls 57110 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Minnehaha County · Lincoln County ·
Frequently asked questions
Can I get a personal loan with bad credit in Sioux Falls?
Possibly. Lenders in our network consider applicants with fair and bad credit across South Dakota, including Sioux Falls. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Sioux Falls, SD?
36% APR cap, all fees included, for every licensed money lender.
How fast can I get a personal loan in Sioux Falls?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
Where can I find a loan for bad credit in Sioux Falls?
You can apply at local banks and lenders in Sioux Falls, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
Are personal loans bad for your credit?
Not necessarily. Checking offers often uses a soft inquiry that doesn't affect your score, though a lender may do a hard pull before final approval. Once you have the loan, on-time payments can help build your credit history, especially with lenders that report to the major bureaus, while missed payments can lower your score. Sioux Falls residents can see their options in about 3 minutes.
Can I get a personal loan in Sioux Falls with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Sioux Falls residents can see if they qualify for $100 to $5,000 in about 3 minutes.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Sioux Falls borrowers who qualify.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Sioux Falls with our free 3-minute form.
Do I need to visit a store in Sioux Falls?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.