INCENTIVES
SBA 504
The SBA 504 loan program is another attractive and
effective financing tool. This
is available to for-profit businesses. This program, which offers
long-term, fixed-rate financing,
is available for fixed asset purchases only. That could include
land, buildings, new construction
and equipment with a useful life of 10 or more years. The SBA 504
recognizes the financial risk of start-up
businesses and single purpose facilities and is willing to participate
in these
ventures, although they do require more equity. Another benefit
of this program is that the participating
lender receives the first mortgage on the project.
For additional information, contact:
Finance Division
Governor's
Office of Economic Development
711 East Wells Avenue
Pierre, SD 57501-3369
Phone: 605-773-5032
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