GROW SD Receives State Farm® Grant to Support Small Business
Friday, February 09, 2018
The Northeast South Dakota Economic Corporation (NESDEC) dba GROW South Dakota (GROW SD) recently received a Good Neighbor Citizenship Grant from State Farm for its technical assistance (TA) program for small business borrowers. The purpose of the project is to assist small business loan applicants prepare to borrow money and grow their business.
The TA provided by GROW SD business loan officers will support business owners in various aspects of their operations. Each business will have different needs, but in general, TA comprises starting or expanding a business before, during, and after financing. NESDEC primarily serves northeastern South Dakota, but the grant allows the organization to have a wider reach across the state.
“State Farm is committed to building safer, stronger, and better educated communities. We feel honored to be able to support GROW SD as we also have an emphasis on helping small businesses thrive and creating jobs.” Kelly Pargett, State Farm Public Relations specialist.
NESDEC celebrates its 40th anniversary in 2018. Through September 30, 2017, the organization had made 1,993 loans to 1,204 businesses for more than $67 million. These loans assisted businesses in creating or maintaining 12,258 jobs.
For information, visit www.growsd.org or call 605-698-7654.
About State Farm®: The mission of State Farm is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto, home and individual life insurance in the United States. Its 18,000 agents and more than 65,000 employees serve more than 83 million policies and accounts – nearly 81 million auto, home, life, health and commercial policies, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 35 on the 2016 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com. GROW South Dakota is an Equal Opportunity Lender, Provider, and Employer. It has served South Dakota communities since 1966. The organization provides housing, community, and economic development to 10,000 customers annually.
Category: GROW SD