REDI Fund Loans
We give new meaning to the phrase "ready, willing and able." Our REDI (Revolving Economic Development and Initiative) Fund is designed to help promote job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or relocating and local economic development corporations.
How it Works
The 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.
Costs eligible for participation may include:
- the purchase of land and the associated site improvements
- construction, acquisition or renovation of buildings
- the purchase and installation of machinery and equipment.
Costs that are NOT eligible include:
- refinancing of existing debt
- short-term, interim financing for the construction or acquisition phase of a project
- trade receivables
- other working capital needs
- preliminary design stage costs which include, but are not limited to market research, written cost estimates, development of business plan
For more information, contact REDI Loan Officer Travis Dovre at (605) 773-3301, firstname.lastname@example.org preliminary product development costs
Category: State Incentives, Grants & Loans
More State Incentives, Grants & Loans
The Aberdeen Development Corporation has business loan opportunities available through their revolving loan fund and forgivable loan program.Learn More
CITY OF CLEAR LAKE
The following discretionary formula is adopted for any new construction of residential structures, including any addition to or renovation of an existing structure in the City of Clear Lake with an assessed value of $30,000.00 or more pursuant to the following percentages of assessed value over a period of five years:
Amended Resolution No. 2010-8
Dated: August 9, 2010.
Following the recession of the early 1980s, the Future Fund was developed in 1987 with $1.8 million to invest in South Dakota’s workforce and build its economy. It helps to support the training of employees, retraining of employees during layoffs, business recruitment, and research and entrepreneurial activities. In 2011, $6,978,077 was awarded to 27 companies for these purposes, creating 1,335 jobs.Learn More
Low interest loans for businesses & communities for economic development
The ITC Telecom Economic Development Revolving Loan Fund Program is providing low interest loans, in conjunction with the federal government, to assist in the economic development of rural communities. ITC Telecom and You--working together into the future, for the future!
South Dakota Wins will better prepare our young people for the future, all while providing immediate training to our citizens so they can fill the positions already in our state. It will also work to improve access to rural health care and aggressively market South Dakota to attract new citizens and encourage the return of those who've moved away from our state.Learn More