Choose Clark County (CCC) applied for and was fortunate to receive a USDA Rural Development grant to kick start our own Revolving Loan Fund. We are excited to now be able to offer low-interest loans to new or expanding Clark County businesses!
Now through July 1, we are offering business loans at a special 3% interest rate. As loans are paid back to us, CCC will "revolve" the money and circulate it back into the community for even more new business loans.
Financing from Choose Clark County can be used to fill a variety of business needs, including:
Acquisition of property
Construction or remodeling
Machinery or equipment
Operating capital
Inventory, and more!
Businesses must be physically located in Clark County to be eligible. Due to our grant regulations, these loans can unfortunately not be used for housing development or for agricultural production (farming).
CCC has partnered with GROW South Dakota, a larger non-profit lender, to help us manage our fund and the application process. GROW manages Revolving Loan Funds for a number of small non-profits like ours. Working with GROW allows our applicants more privacy since personal financials are not shared with any board or staff members here locally.
Our Choose Clark County board of directors does have decision-making authority on the disbursement of our funds, and we look forward to talking to you about how we can be helpful to your new or expanding business!
Contact the CCC office to learn more or request an application form.