Loan Programs

Local Funding Assistance

Spearfish Economic Revolving Fund
The SERF program is intended to provide short-term, low-interest loans to manufacturers and/or service exporters which are expanding or relocating to Spearfish. Proceeds from a SERF Loan can be used for the acquisition of land, building improvements and equipment.
Download SERF Policies & Procedures
Download Application Here

“It was huge. Getting that loan at a low-interest rate allowed us to get the project done rather than doing it piece by piece.” – Lindsey Richards, Owner of Alpine Impressions 

SEDC Capital Loan Program 
The Capital Loan Program was designed to provide low interest, flexible gap financing for projects which lead to the creation and/or retention of employment opportunities. Money can be used for acquiring land and buildings, machinery and equipment, construction, working capital, and contingencies.
Download application here

Business Facade Loan Program
The Business Façade Loan program assists in the renovation costs associated with storefront improvements in designated business districts. Low-interest municipal loans for up to $20,000 are made available to eligible property owners and/or tenants of commercial buildings.
Download application and policies and procedures PDF
Download application here

Regional Funding Assistance

Lawrence County Revolving Loan Fund & West River Revolving Loan Fund
These loan programs make available up to $250,000 for a wide range of uses: feasibility studies, business start-up costs, purchase or development of land, infrastructure or the purchase of equipment.
Download application here

Small Business Administration 504 Loans (Regional)
The SBA 504 Program provides fixed rate, long-term financing for fixed assets such as land, buildings, and equipment.
Download application here PDF

West River Revolving Loan Fund
The loan fund was established to assist community projects and new or expanding businesses in Western South Dakota.
Download application here PDF

State Funding Assistance

Revolving Economic Development and Initiative Fund (REDI Fund/State)
The REDI Fund promotes primary job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or relocating and local economic development corporations. The REDI Fund can provide up to 45 percent of a project’s total cost.
Download application here PDF.

SD MicroLoan
The MicroLoan program provides loans to small businesses within the state. Service providers and retail businesses are encouraged to apply. Eligible expenses include working capital, equipment, real estate or other fixed asset project costs.
Download policies and procedures here PDF.
Download application here PDF.

Industrial Revenue Bonds
The Industrial Revenue Bonds program provides assistance toward capital-intensive projects, access to larger capital markets for tax-exempt or taxable bond issuance. An advantage of this program is a long-term loan with a fixed, low-interest rate. All businesses that are engaged in the operation of an industrial, ag processing or manufacturing business may apply.
Download an application here.