GROW SD Celebrates 40th Anniversary with Business Loan Special
Tuesday, June 26, 2018
In 1978, GROW South Dakota made its first business loans. In the 40 years since then, the agency has had significant impact on businesses and communities throughout northeastern South Dakota and beyond. To celebrate this milestone, GROW SD is offering a business loan special.
GROW SD’s revolving loan fund was established in 1978 with the purpose of supporting economic development in 22 northeastern South Dakota counties through small business loans and job creation. Since that time, the agency has made 2,009 loans for a total of more than $69.7 million to 1,214 area businesses (as of 3/31/18). These loans have assisted in creating or maintaining 12,309 jobs, an average of 6.13 jobs per loan. Loans have averaged $34,717 over time. GROW SD often partners with other lenders, such as banks and economic development agencies, to support firms that will have an impact in their communities and create much-needed jobs.
In honor of the 40th anniversary, GROW SD is offering a business loan special. Qualifying businesses may get a discounted interest rate of 2.95% on loans up to $50,000 for a 60-month term. Interested businesses can learn more here, visit the Application Center or call (605) 698-7654.
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