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South Dakota WORKS

Category: Business Incentives

South Dakota WORKS is the newest financing program in the Governor’s Office of Economic Development (GOED). The federally funded program, launched in October of 2011, provides South Dakota small businesses with working capital funds.

South Dakota WORKS:

  • Offers commercial loans to businesses that need working capital
  • Eligible uses include: working capital, interim construction needs on new buildings, and equipment needs
  • Eligible borrowers for South Dakota WORKS loans include: businesses seeking new financing and certified development financial institutions (CDFIs)
  • Must meet US Treasury guidelines
  • Term: 1-5 years
  • Maximum loan amount: $1 million; minimum loan amount $20,000
  • Fixed interest rate, typically 1 percent less than lead bank
  • Structure: Bank, 80 percent; WORKS loan, 20 percent
  • The WORKS loan takes second position on collateral behind the participating bank


LaJena Gruis
South Dakota Governor's Office of Economic Development
Phone: (605) 773-GOED