Governor's Office of Economic Development
  711 East Wells Avenue
  Pierre, SD 57501-3369
Phone: 605-773-3301
  Toll Free: 800-872-6190
email: goedinfo@state.sd.us

www.sdreadytowork.com

REDI (Revolving Economic Development & Initiative) Fund

• 3% fixed interest rate available to start-ups or expansions
• Amortization up to 20 years, based on useful life of financed asset(s)
• 5-year balloon payment
• Minimum 10% equity contribution; total REDI Fund loan amount no greater than 45% of total project costs

SBA 504

• Long-term fixed-rate financing
• Fixed asset purchases eligible
• Available to all for-profit businesses, including retail operations

APEX (Agricultural Processing and Export) Fund

• Designed to encourage job growth in rural areas, by assisting companies in communities of 25,000 or less, or which add value to raw agricultural products through processing
• Must employ low income persons, farm families or displaced farm families when possible
• May provide up to 75% of total project costs
• Interest rate is currently 5%; six year balloon; 10-20 year amortization

MicroLOAN of South Dakota

• Offers access to working capital for small enterprises
• Maximum loan amount of $50,000; minimum of $1,000; total project costs cannot exceed $200,000
• 50% of total financing must be provided by a bank; balance from MicroLOAN and equity injection (if required by bank); MicroLOAN subordinates to bank involved

Bond Financing

• All for profit businesses that are engaged in the operation of an industrial, processing or manufacturing business may apply for bond financing through the South Dakota Economic Development Finance Authority
• To qualify for tax-exempt financing, the borrower must be a manufacturer
• Bond proceeds can be used to finance up to 80 percent of new construction, and 75 percent of new equipment costs, with no greater than 25 percent of the bond proceeds being used for non-manufacturing activities such as office or inventory space

Value Added Ag Subfund

• Available for feasibility and marketing studies for value-added ag projects, (Provides 50% of total project costs)
• 10% equity injection required
• Value-added is defined as taking product to next layer of profitability

Value Added Tourism Subfund

• Available for feasibility and marketing studies for value-added tourism projects (Provides 50% of the total project costs)
• Value-added is defined as projects that attract more visitors to SD from other states and countries; lengthen the stay of visitors in SD; expand the visitor season to the shoulder seasons; create primary jobs in the visitor industry; and expand upon the historical, cultural, scenic, wildlife and other resources in SD

Training Assistance

• Please click on the link above for more information on the Workforce Development Program

Contact Us - If you have questions, or would like to be included in our listing.