Incentives Directory

APEX Fund

Purpose
The APEX (Agricultural Processing and Export) Loan Program is designed to assist companies in communities with a population of 25,000 or less, which add value to raw agricultural products through processing, or export a minimum of 75 percent of its product to entities outside the State of South Dakota or replace an import. The program is open to for-profit businesses and local economic development corporations.

How it Works
This program may provide up to 75 percent of the total project cost and requires the applicant to secure the other funds before applying for the APEX loan, including a 10 percent minimum equity contribution. The maximum loan amount available from the APEX program is up to $250,000. Eligible project costs include the purchase of land and the associated site improvements, the purchase and installation of machinery and equipment, the construction, acquisition or renovation of a building, and fees, services and other costs associated with construction.

Terms
The interest rate is three percent, depending upon the risk of the project and the amount of participation by APEX. The interest rate will be determined at loan consideration and will be fixed for the life of the loan. The loans are amortized over the useful life of the assets being financed.

Category: State Incentives, Grants & Loans

More State Incentives, Grants & Loans

Growing Small Communities in South Dakota The state’s CDBG program is funded through an annual formula allocation from the US Department of Housing and Urban Development (HUD). The program allows the state to fund a variety of different projects in small cities and rural... Learn More
Purpose The Ethanol Infrastructure Incentive Program was designed to alleviate retailers across the state from costs associated with the installation of blender pumps. The State of South Dakota has allocated $3.5 million over the next five years to get the program on its... Learn More
Following the recession of the early 1980s, the Future Fund was developed in 1987 with $1.8 million to invest in South Dakota’s workforce and build its economy. It helps to support the training of employees, retraining of employees during layoffs, business recruitment, and research... Learn More
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... Learn More
Purpose We give new meaning to the phrase "ready, willing and able." Our REDI (Revolving Economic Development and Initiative) Fund is designed to help promote job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or... Learn More
Purpose The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses. Long-tem, fixed rate financing (10-20 years) and reasonable rates (near long-term U.S. Treasury bond rates), make the 504 Program an attractive and effective economic development financing tool... Learn More
Program Overview Business/commercial loans for businesses needing working capital Term of 1 to 3 years Loan amount up to $1 million with a minimum amount of $20,000   Eligible Borrowers Businesses seeking new financing Certified development financial... Learn More
Purpose In 1999, a $3 million fund was created specifically to assist in funding feasibility and marketing studies for prospective value-added ag business. This Subfund of the REDI Fund is just one step toward improving value-added ag in South Dakota. By partnering with... Learn More