Loan Funds Programs

South Central Dakota Regional Council administers three economic development loan programs to assist in gap financing to start and grow businesses in the nine counties of Region VI. The application process includes submitting a loan appplication, cover letter, business plan and financials to the Regional Council for review by the staff and presentation to the Regional Council's Loan Review Committee. Business owners, entrepreneurs, economic developers, and/or bankers may contact SCDRC staff to obtain an application.


All three of our loan programs require: Location in the 9 county region; Matching lead lender; equity of 10% of total project cost including equity; first or second position on collateral and personal guarantee.

Community Development Loan Fund

Provides gap financing and equity investment for projects that will create or retain jobs for low to moderate income persons. 


  • Borrower: Primary, Retail, Service Sector Business
  • Minimum of $50,000
  • Up to 50% of the project
  • 1:1 Match
  • Job Development, 1 job per $50,000
  • Infrastructure Projects, 1 job per $10,000
  • Includes administrative and closing costs

EDA Revolving Loan Fund

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  • Borrower: Primary, Service, or Retail Sector Business
  • Maximum of $130,000
  • Up to 33% of the project
  • 2:1 Match
  • Job Development, 1 job per $10,000
  • Includes filing fees, legal fees, and 1% closing costs

USDA Internediary Relending Program

 

  • Borrower: Primary, Service or Retail Sector Business
  • Maximum of $150,000
  • Up to 50% of the project
  • 1:1 Match
  • Job Development
  • Includes 2% closing costs