Financing & Incentives
We know that available financing is critical for your company to grow and prosper. That's why our business financing programs are designed with you in mind. From revolving loan funds to workforce development grants, we're sure we have one that's right for you.
State Provided Loans and Grants for Your Business
Revolving Economic Development & Incentive (REDI) Fund
Provides permanent financing for land, building, machinery and equipment and associated installation costs.
Offers long-term, fixed-rate financing on fixed asset purchases to all for-profit businesses.
Offers access to working capital for small enterprises and may be used for fixed assets.
Value-Added Ag Subfund
Its purpose is to make grants or loans for agricultural development, feasibility studies, or marketing.
Workforce Development Training
Through our Workforce Development Program, companies have access to dollars to help train new AND existing employees. Provides matching grants to assist companies with up to 50% of eligible training expenses.
Community Development Block Grant (CDBG)
The program allows the state to fund a variety of different projects in small cities and rural areas. Provides matching grants to local governments, municipalities and counties.
Regional Revolving Loan Funds
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, homeownership and financial education, weatherization, emergency services, and more.
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.
Northeast Council of Governments assists governmental entities and nonprofit groups in the development and implementation of community and economic development activities. NECOG 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.