Darin's Grocery Store

South Dakota knows that available financing is often a critical factor in having a company grow and prosper. South Dakota’s low cost of doing business and their sponsored incentives can have a substantial affect on your bottom line.

REDI Fund.
Revolving Economic Development and Initiative fund provides permanent financing for the purchase of land, site improvements, construction, acquisition, renovations of buildings and equipment. It can also cover fees and other construction costs.
The REDI Fund provides up to $5,000 per job created, with the total loan amount being no greater than 45 percent of the total project costs. Companies should secure matching funds and be able to provide a 10 percent minimum equity contribution before applying for a REDI Fund.
Interest rates have remained at 3% and loans are amortized up to 20 years on a building and 10 years on equipment, with a balloon payment due after five years. For more information visit: http://www.sdgreatprofits.com/F-I/REDI.htm

MicroLOAN.
The purpose of this loan is to provide low-interest financing to small businesses. It provides fixed-rate, low interest loans for fixed-asset project costs including working capital, equipment and real estate and it is subordinated debt. The maximum amount for a loan is $50,000 and it can not exceed 5 years. Total project costs may not exceed $200,000. The current interest rate is 3%.. For more information visit: http://www.sdgreatprofits.com/F-I/Micro.htm

Workforce Development Program.
Under the Workforce Development Program, the State of South Dakota will provide employee training funds for qualifying businesses. The program supports three types of training: new employee training, current employee retraining and current employee upgrade training. This program has a maximum of $2,000 per employee. For more information visit:
http://www.sdgreatprofits.com/F-I/Workforce/index.htm

Entrepreneur Support Program.
The purpose of this loan is to provide financial assistance to people who have an idea for a new business, but lack all the capital necessary to breathe life into their idea. This loan ranges from $30,000 to $50,000 and it may include a 3-year debt service holiday. After the debt service holiday, the loan may be amortized over 12 years with monthly payments and a balloon payment after the fourth year. For more information visit: http://www.sdgreatprofits.com/F-I/ESP.htm

Back to top