Financing and Incentives

First Children's Finance has designed a special loan program to help start, strengthen or expand child care center in homes, centers or schools. The program focuses on improving the quality, accessibility and sustainability of the child care business through loans up to $125,000.

For more information visit: http://www.firstchildrensfinance.org/contact-us/minnesota-regional-office/

This program offers access to dollars to help train new AND existing employees.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The South Dakota Works program provides business/commercial loans for businesses needing working capital. Eligible businesses or certified community development financial institutions can receive between $20,000 to $1 million during a 1-5 year term.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The Board of Economic Development may provide grants to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a South Dakota Jobs Grant for new or expanded facilities with project costs less than $20,000,000 or for equipment upgrades with project costs less than $2,000,000.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses. Long-term, 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.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The Board of Economic Development may provide reinvestment payments to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a reinvestment payment, not to exceed the South Dakota sales and use tax paid on project costs, for new or expanded facilities with project costs in excess of $20,000,000 or for equipment upgrades with project costs in excess of $2,000,000.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

Revolving Economic Development & Initiative (REDI) Fund provides up to 45 percent of a project's total cost. Companies should secure interim (construction) financing, matching funds for permanent financing, and be able to provide a 10 percent minimum equity contribution before applying to the Board of Economic Development for a REDI Fund loan.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The Proof of Concept Fund provides up to $25,000 investments for eligible applicants to conduct research demonstrating the technical and economic feasibility of an innovation significantly enhancing the likelihood of commercialization of the innovation. Eligible applications may include entrepreneurs, universities, existing South Dakota companies, or other entities committed to commercializing the results in South Dakota.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

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.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The Ethanol Infrastructure Incentive Program was designed to alleviate retailers across the state from costs associated with the installation of blender pumps. South Dakota Governor?s Office of Economic Development is now accepting applications for $960,000 in funding for the Ethanol Infrastructure Incentive Program for the 2013 fiscal year.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The Dakota Seeds Program can provide 50% of the intern?s wages with a maximum of $2000 per intern. Internships must relate to a high need industry sector, including: science, technology, engineering, mathematics, manufacturing and accounting. Both high school and college students are eligible.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

A state fund for projects that involve job training for individuals who meet the low-to-moderate (LMI) requirements. An Incorporated City of County must be the recipient of a grant and use the funds to provide training to individuals. The training must either be a new service or significant increase in an existing service offered. Also, there must be job opening to constitute the need for the training.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

A state fund for a variety of different projects in small cities and rural areas. All projects must meet one of HUD?s national objectives, with the primary objective to benefit people of low-moderate income.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

South Dakota's Economic Development Finance Authority (EDFA) offers a pooled loan program designed for more capital-intensive projects, provides small businesses access to larger capital markets for tax-exempt or taxable bond issuance's.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

The Agricultural Processing and Export (APEX) 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 outside the State of South Dakota or replace an import. The program is open to for-profit businesses and local economic development corporations.

For more information visit: http://www.sdreadytowork.com/Financing-Incentives.aspx

Dakota Resources' Capital Investment Fund (CIF) builds financial capacity of South Dakota's economic development corporations and revolving loan funds that finance local development projects.

For more information visit: http://www.dakotaresources.org/capital-investment-fund

Rural Electric Economic Development (REED) Fund is a non-profit tax-exempt 501(c)(3) corporation, formed through the collaboration of rural electric cooperative members of East River Electric Power Cooperative, Inc. REED serves in eastern South Dakota and western Minnesota.The REED Fund offers financing for business development and for projects involving infrastructure and quality-of-life elements necessary to assist rural communities to retain, develop and attract businesses.

For more information visit: https://www.eastriver.coop/reed/

Northeast Council of Governments (NECOG) is an association of city and county governments formed to provide technical and professional assistance to promote and assist in the funding of small business start ups, purchase of existing businesses, and expansion of businesses which, in all three instances, will create new or retain current jobs.

For more information visit: http://necog.org/rlf

In 2000, Interstate Telecommunications Cooperative (ITC) established its Telecom Economic Development Revolving Loan Fund. This program, provides low interest loans to businesses and communities for the purpose of adding value, employment and rural community opportunities. Proposals may include healthcare, environmental, educational and safety projects.

For more information visit: https://itc-web.com/about-itc/redi-loan-fund-program/

GROW South Dakota (also known as NESDCAP and NESDEC) provides affordable business financing to both new and existing businesses to purchase inventory, equipment or real estate. In addition, the state-wide organization provides home loans, home repairs, home-ownership and financial education, weatherization, emergency services, and more.

For more information visit: http://www.growsd.org/growsd/business-lending