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SD Microloan/Microloan Express

Category: Business Incentives

The MicroLOAN South Dakota Loan Program is a partnership with the South Dakota Development Corporation, and Governor's Office of Economic Development. These loans are made available to small businesses within the borders of South Dakota and South Dakota residents, including main street and retail operations, for working capital, equipment, real estate or other fixed asset project costs.

South Dakota MicroLOAN / MicroLOAN Express:

  • Offers access to working capital for small enterprises; may also be used for fixed assets
  • Up to a 10-year term, depending on loan amount
  • Maximum loan amount of $100,000; minimum $1,000; total project cost cannot exceed $500,000
  • Application fee is the greater of 1.5 percent of loan amount or $50
  • 3 percent interest rate
  • 50 percent of total project cost must be provided by a bank, credit union, or local or regional revolving loan funds; balance from MicroLOAN and equity injection (if required by lender); MicroLOAN subordinates to lender involved or may be in a shared first collateral position with MicroLOAN Express and the local or regional revolving loan funds

Program requires interim/construction financing


Charlie Van Gerpen
South Dakota Governor's Office of Economic Development
Loan Officer
Phone: (605) 773-GOED