S.D. Development Corporation aids small business growth
Tuesday, July 24, 2018
SIOUX FALLS — Jennifer Oberg has been helping businesses grow in South Dakota for 20 years. She has facilitated the creation of numerous jobs, secured funding from federal and state agencies to assist with community growth and helped establish affordable housing.
Today, she serves as executive director of the South Dakota Development Corporation (SDDC), which specializes in low interest, fixed-rate loans through the Small Business Administration 504 program.
“This program helps businesses reach their goals,” said Oberg. “It was underused in our state before the creation of the SDDC.”
Former Governor Bill Janklow saw enormous potential for small businesses in South Dakota through the SBA 504 program and worked to help form the SDDC to fill a need in the state. The program allows businesses to borrow anywhere from $100,000 to $5.5 million.