Empowering Entrepreneurs: Business Lending with GROW South Dakota

A Legacy of Support for Business Owners

GROW South Dakota continues its mission to support business owners through loans and business technical assistance. This dedication to fostering economic growth remains steadfast, ensuring businesses have access to the resources they need to succeed.  Mark Nelson, Senior Business Loan Officer at GROW South Dakota, says, "Our mission is to empower local entrepreneurs by providing them with the financial tools and guidance they need to succeed. We are committed to helping businesses thrive and contribute to the economic prosperity of our communities."

Affordable Business Financing Statewide

As a statewide lender, GROW South Dakota offers affordable business financing to both new and existing businesses. The organization understands the diverse needs of entrepreneurs and provides loans for various purposes, including real estate, equipment, inventory, and working capital. Loan amounts typically range from $500 to $250,000, with terms based on collateral. Entrepreneurs are encouraged to inquire about current interest rates to find the best financing options for their situations.

Collaborative Financing Solutions

GROW South Dakota recognizes the importance of collaboration in achieving financial success. To this end, the organization often partners with banks to provide joint financing solutions. This collaborative approach not only enhances the financial stability of businesses but also strengthens the overall economic fabric of South Dakota. Business owners interested in these joint financing opportunities can contact a loan officer at (605) 698-7654 for more information.

No-Cost Consulting Services with the Small Business Development Center

In addition to its lending services, GROW South Dakota is closely affiliated with the Small Business Development Center (SBDC). The SBDC offers no-cost, confidential business management consulting services to support potential and existing businesses throughout South Dakota. Entrepreneurs can receive assistance with developing their business plans, preparing financial projections, and addressing a wide range of business challenges. This comprehensive support helps small businesses become more successful and sustainable.

Business Training and SBA Resource Partnership

The Small Business Development Center also provides basic business training to equip entrepreneurs with essential skills for running their businesses effectively. Although the SBDC is a resource partner of the Small Business Administration (SBA), it does not administer any of the SBA's financial programs directly. However, it offers valuable guidance and links to SBA funding program information, helping business owners navigate the complexities of securing additional financial support.

A Partner in Economic Growth

GROW South Dakota is a dedicated partner in economic growth, offering vital resources and support to businesses nationwide. The organization fosters a thriving business community through affordable financing, collaborative lending solutions, and comprehensive consulting services. For more information on how GROW South Dakota can help your business, visit GROW South Dakota today or contact a loan officer at (605) 698-7654 and take the first step towards financial empowerment and success.