MicroLOAN Express
The MicroLOAN South Dakota Loan Program is a partnership with the South Dakota Development Corporation, and Governor's Office of Economic Development. These loans are made available to small businesses within the borders of South Dakota and South Dakota residents, including main street and retail operations, for working capital, equipment, real estate or other fixed asset project costs.
The MicroLOAN Express operates in the same fashion as the MicroLOAN, with the following exceptions:
If an applicant qualifies under the policies and procedures of the MicroLOAN and they receive bank or credit union approval, approval under the MicroLOAN Express will be automatic as long as the MicroLOAN Express portion is in a pro-rata first collateral position with the bank or credit union.
The bank or credit union must file all of the documents it requires of the applicant, as well as all internal documents relating to the loan with the Governor's Office of Economic Development in order to receive the paperwork relating to the MicroLOAN Express loan.
Category: State Incentives, Grants & Loans
Purpose
The APEX (Agricultural Processing and Export) Loan Program is designed to assist companies in communities with a population of 25,000 or less, which add value to raw agricultural products through processing, or export a minimum of 75 percent of its product to entities...
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Growing Small Communities in South Dakota
The state’s CDBG program is funded through an annual formula allocation from the US Department of Housing and Urban Development (HUD). The program allows the state to fund a variety of different projects in small cities and rural...
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Purpose
The Ethanol Infrastructure Incentive Program was designed to alleviate retailers across the state from costs associated with the installation of blender pumps.
The State of South Dakota has allocated $3.5 million over the next five years to get the program on its...
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Following the recession of the early 1980s, the Future Fund was developed in 1987 with $1.8 million to invest in South Dakota’s workforce and build its economy. It helps to support the training of employees, retraining of employees during layoffs, business recruitment, and research...
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Purpose
We give new meaning to the phrase "ready, willing and able." Our REDI (Revolving Economic Development and Initiative) Fund is designed to help promote job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or...
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Purpose
The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses. Long-tem, fixed rate financing (10-20 years) and reasonable rates (near long-term U.S. Treasury bond rates), make the 504 Program an attractive and effective economic development financing tool...
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Program Overview
Business/commercial loans for businesses needing working capital
Term of 1 to 3 years
Loan amount up to $1 million with a minimum amount of $20,000
Eligible Borrowers
Businesses seeking new financing
Certified development financial...
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Purpose
In 1999, a $3 million fund was created specifically to assist in funding feasibility and marketing studies for prospective value-added ag business. This Subfund of the REDI Fund is just one step toward improving value-added ag in South Dakota.
By partnering with...
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