GROW South Dakota Assists with Starting a Business

Starting up a new business can be a daunting challenge. Many decisions must be made such as where to locate the business, how to get start-up funding, and how to create a successful business plan. Entrepreneurs should not fear this process, though, as there are programs that can help make this adventure a smooth process.

For more than 40 years, GROW South Dakota has supported business owners through loans and business technical assistance to new and existing borrowers. According to GROW South Dakota board member Craig Rau, “The programs have helped people live their dream of starting a business. They have provided educational benefits to local business owners to help our communities retain their business services.”

As a statewide lender, GROW South Dakota finances new and existing businesses with loans typically ranging from $500 to $250,000. In 2021, GROW South Dakota loaned over $7 million to new and existing businesses to increase their total portfolio to nearly $32 million. They can also partner with a bank to provide joint financing. In addition, the Small Business Development Center, an affiliate of GROW South Dakota, offers no cost confidential business management consulting services as well as basic business training

For more information about GROW South Dakota’s housing and business development programs and services, please visit our website at www.growsd.org or call (605) 698-7654.

#####

GROW SOUTH DAKOTA is an Equal Opportunity Lender, Provider, and Employer Complaints of discrimination should be sent to: USDA, Director, Office of Adjudication, 1400 Independence Ave SW, Washington DC 20250-9410.