Revolving Economic Development & Initiative (REDI) Fund
This discretionary program offers low-interest loans of up to 45% of total project costs to assist business attraction and expansion projects. The REDI Fund provides permanent financing for the purchase of land and associated site improvements, construction, acquisition, renovations of buildings and equipment. In addition, the fund can be used to offset fees, services and other costs associated with construction. Interest rates are 2%, and loans are amortized for up to 20 years on a building and 10 years on equipment, with a balloon payment due after 5 years. Companies should secure matching funds and be able to provide a 10% minimum equity contribution before applying.
SD Governor's Office of Economic Development
https://sdgoed.com/financing-incentives/redi-fund/Category: State
More State
There are two Ethanol Infrastructure Incentives Programs. The Ethanol Flex Pump Program provides matching funds for fuel retailers that provide pumps dispersing ethanol blends. The Ethanol Storage Tank Program also matches funds for the installation of below or above ground storage tanks that allow blender...
Learn More
Provides grants to aid in funding the construction of infrastructure associated with an economic development project. This program is open to any local development corporation or political subdivision of the state.
Learn More
This discretionary program assists small businesses with their projects of less than $750,000. Loans can be used for permanent working capital, equipment or real estate financing .The maximum loan amount under this program is $100,000 for a period of up to 10 years, and carry...
Learn More
Loan program providing up to $25,000 in advances for qualified applicants. Applicants must submit research highlighting the technical and economic likelihood of an innovation prior to commercialization. Three avenues within the POC fund include research funding, market analysis funding and patent funding. Funds may not...
Learn More
A discretionary program reserved for highly competitive projects establishing new or expanding existing operations with a total project cost of more than $20,000,000 or equipment upgrades in excess of $2,000,000. Amount of the award may not exceed state sales/use tax paid on eligible project costs.
Learn More
A discretionary program reserved for highly competitive projects establishing new or expanding existing operations with a total project cost of less than $20,000,000 or equipment upgrades less than $2,000,000. Amount of the award may not exceed state sales/use tax paid on eligible project costs.
Learn More
Offers business/commercial loans to companies in need of working capital. Loans can be used to cover start-up costs, payroll, and construction. Loans are for 1-5 years, with a maximum loan of $1 million.
Learn More
