2017 Annual Report

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Small Loan Fund

September 01, 2017

Category: Applications

Small Loan Fund

GROW South Dakota has limited loan funds available statewide to refinance existing personal debt or assist with financial needs. These loans can be a minimum of $500 and a maximum of $2,500. This is a standard 12-month term, fixed 10% interest rate. Eligible loan purposes include; paying off high interest debt, clearing up judgements, car repairs, and other items may be considered on a case-by-case basis. The loan must clear up the existing debt, judgement, car repair or other item.

Restrictions & Guidelines:

·         APR cannot exceed 36%

·         No minimum credit score

·         Must be able to show repayment ability

o   Payments are required to be made by auto deduction or payroll deduction

·         Origination fee can be financed if necessary

·         Financial counseling is strongly suggested.

o   Classes available at Lutheran Social Services – Contact Sheri Ekdom at 605-444-7700 or 888-258-2227 ext. 7700 (toll free)

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Interested in owning a home? Learn about credit, money management, affordability, finding the right house, and more! Inquire about our one-on-one homebuyer education or online education. Call or email us for more information!

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GROW South Dakota

GROW South Dakota
104 Ash Street East | Sisseton, SD  57262
Phone (605) 698-7654 | Fax (605) 698-3038 info@growsd.org