Business Loans Available from GROW SD Current 3.99% Special
Tuesday, May 31, 2016
GROW South Dakota, the statewide community and economic development nonprofit, has invested more than $64 million in small businesses in South Dakota over 50 years, and it continues to make affordable financing available for local businesses. Currently, it is offering a business loan special: a 5-year, 3.99% loan for up to $50,000—available through August 31, 2016.
Overall, business loans can range from $500-$250,000. GROW SD will finance new or existing businesses, supporting real estate, equipment, inventory or working capital. Loans are secured by collateral. GROW SD often partners with banks to provide joint financing. Businesses interested in the current special or inquiring about rates for other loans may contact (605) 698-7654 for more information or apply online.
As a key benefit, GROW SD offers free business assistance to its business borrowers. Ongoing one-on-one consulting is offered for cash flow and sales analysis, pricing, marketing, and customer service regardless of the size or maturity of the business. This outside perspective has made GROW SD’s business lending program highly successful for both the borrower and the lender.
In addition, the Small Business Development Center offers potential and existing businesses no cost confidential business management consulting services, including developing business plans, preparing financial projections, or addressing other issues the small business person may face. The SBDC can be reached at (605) 626-2565 or www.sdbusinesshelp.com. GROW SD is the fiscal agent for the SBDC for northeastern South Dakota.
GROW SD excels at providing housing, community, and economic development to 10,000 customers annually. It consists of three separate 501(c)(3) private nonprofit agencies that date back to 1966. In the past 50 years, GROW SD has lent to nearly 2,000 businesses, which have created or maintained more than 11,000 jobs.