GROW South Dakota's Frequently Asked Questions
How do I apply for a business loan?
An application is available here for download or call (605) 698-7654 to receive an application by mail.
How long does the process take?
Once GROW South Dakota has received a completed loan application and any additional information requested the process is quick and confidential.
Do I need to have a bank to qualify?
No, a bank is not required to qualify for a business loan. However, partnerships in which GROW South Dakota finances 50% of a project and a local bank finances the remaining 50% of the projects are common.
Who qualifies for a business loan?
Any new or existing business in the GROW South Dakota service area may qualify for a loan. However, the business will need to provide collateral and show an ability to repay the loan.