This EDA investment supports the central south dakota enhancement district with establishing a revolving loan fund (RLF) to provide short term, GAP financing assistance to businesses within the…

The Department of Commerce Economic Development Administration awarded a $500,108 Project Grant to the Central South Dakota Enhancement District on May 8, 2023 under the Economic Adjustment Assistance program (CFDA 11.307). The grant funding will support the establishment of a revolving loan fund to provide short-term, gap financing to businesses in ten counties in central South Dakota. The new revolving loan fund will serve as a local source of capital for new, existing, and expanding businesses, promoting regional growth and development through increased investment, employment, and economic diversity. Once established, the revolving loan fund will help bolster resiliency against future economic disruptions and spur private investment and job creation to strengthen the regional economy. The Central South Dakota Enhancement District will manage fund operations over a two-year period ending May 8, 2025.

This EDA investment supports the central south dakota enhancement district with establishing a revolving loan fund (RLF) to provide short term, GAP financing assistance to businesses within the jackson, haakon, stanley, jones, hughes, sully, hyde, corson, mellette, and dewey counties in south dakota. The new RLF will provide the region with a local source of capital for new, existing, and expanding businesses, which will promote growth and development by increasing investment, employment, and economic diversity. Once established, the RLF will support resiliency efforts against future economic disruptions, spur private investment, bolster job creation, and strengthen the regional economy.