Economic Development Financing
Loan Funds Programs
South Central Dakota Regional Council administers two economic development loan programs that provide gap financing to start and grow businesses across the nine counties of Region VI.
50+
Years Serving the Region
how to apply
A straightforward review process.
The application process includes submitting a loan application, cover letter, business plan, and financials to the Regional Council for review by staff and presentation to the Council’s Loan Review Committee. Business owners, entrepreneurs, economic developers, and bankers may contact SCDRC staff to obtain an application.
Our Loan Funds
Two programs, one application.
EDA Revolving Loan Fund — New Microloan
For primary, service, or retail sector businesses.
- Funding Limit: No minimum or maximum
- 2:1 match
- Job development
- Fees: Includes filing fees, legal fees, and 1% of value of the loan with a minimum of $500
- Qualifications: No lead lender needed
USDA Intermediary Relending Program
For primary, service, or retail sector businesses.
- Can be used for Community Development projects, the establishment of new businesses, or expansion of existing businesses.
- The term of the loan will be based upon the life of the assets financed and the ability of the ultimate recipient to cash flow the debt payments.
- Includes 2% closing costs
Thinking about a business project?
Contact our staff to talk through your plans and request an application — there’s no cost to start the conversation.