CDC - 504 Loans
The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community or region. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. There are about 290 CDCs nationwide. Each CDC covers a specific area.
In South Dakota:
Pierre, SD -
South Dakota Development Corporation
Sturgis, SD -
Black Hills Community Economic Development, Inc
Watertown, SD -
First District Development Company
Micro-Loan Program
The Micro-Loan Program was developed to increase the availability of very small loans to prospective small business borrowers. Under this program, the SBA makes funds available to nonprofit intermediaries, who in turn make loans to eligible borrowers in amounts that range from under $100 to a maximum of $25,000. The average loan size is $10,000. Completed applications can usually be processed by the intermediary in a particular geographic location.
In South Dakota:
Kyle, SD -
Lakota Fund
7(a) Loan Guaranty Program
The 7(a) Loan Guaranty Program is one of the SBA's primary lending programs. it provides loans to small businesses unable to secure financing on reasonable terms through normal lending channels. The program operates through private-sector lenders that provide loans that are, in turn, guaranteed by the SBA - the Agency has no funds for direct lending or grants.
Other Types of Loans
SBA Export Working Capital (EWCP) Program
A combined effort of the SBA and Export-Import Bank designed to provide short-term working capital to small business exporters.
SBA Defense Loan and Technical Assistance (DELTA) Program
A joint effort of the SBA and Department of Defense designed to provide financial and technical assistance to defense-dependent small businesses adversely affected by defense reductions.
Short term loans and revolving lines of credit designed to support small business short-term and cyclical working capital needs. There are five types of CAPLine Programs including the Seasonal Line, Contract Line, Builders Line, Standard Asset-Based Line, and Small Asset-Based Line.
Visit SBA Loan FAQs to learn how an SBA Loan Program works and where to apply.
SBA grant programs generally support nonprofit organizations, intermediary lending institutions, and state and local governments in an effort to expand and enhance small business technical and financial assistance. The SBA does not offer grants to start of expand small businesses.
- SCORE Counselors to America's Small Business
More than 10,000 volunteers provide training and one-on-one confidential counseling at no charge. - Small Business Development Centers (SBDC)
SBDC's provide training, counseling, research and other specialized assistance at nearly 1000 locations nationwide.
The SBDC website also provides useful Seminar Services in all functional areas of business management, including such areas as preventure feasibility, the business plan, marketing, record-keeping, financial planning, production, preparation of financial documentation for loan packaging and general management. - Women's Business Centers
SBA's network of more than 60 Women's Business Centers (WBC) [national site | state site] provide a wide range of services to women entrepreneurs at all levels of business development.
The
Business Start-Up Kit offers information on entrepreneurial characteristics, getting started, sources and components of financing, regulations, local SBA resources, definitions of business terms, freqently asked questions.Learn the basics for starting a new business with Frequently Asked Questions
A Wealth of Business Knowledge
SBA provides online forms and help desk. Access checklist for SBA/Bank Financing application, request for counseling, equal employment opportunity statement of policy, management training program, welfare to work forms, IRS forms, OSHA forms, and more.
Explore, Decide, Build, Connect and Succeed in business by discovering and using online resources including a student activities guide, a volunteer guide, and an assessment tool.
Visit www.mindyourownbiz.org.
America's 23 million small businesses
- employ more than 50 percent of the private workforce,
- generate more than half of the nation's gross domestic product,
- are the principal source of new jobs in the U.S. economy?
- South Dakota is a great place to live AND work?
District Director:
John L. Brown II
District Office:
2329 N. Career Ave., Suite 105
Sioux Falls, SD 57107
P#605-330-4243
F#605-330-4215
"The SBA offers financing, training, and advocacy for small firms with offices in every state, including the District of Columbia, the Virgin Islands, and Puerto Rico. In addition, the SBA works with thousands of lending, educational and training institutions nationwide. If your business is independently owned and operated, not dominant within its field, and falls within
size standards, the SBA can be a useful resource."
www.BUZGate.org | A public service from Knowledge Institute11 Court Street, Suite 230 | Exeter, NH 03833 USA
(603) 658-0340 | Fax: (603) 658-0343 | Copyright © 2008 | Contact Us | About Us
Privacy | Add Content | Webmaster