Email District III (605) 665-4408

District III is a 'one stop shop' for business support services. The District is an excellent starting point for information, financial assistance, and business consulting. District III members and partners have made economic development a high priority in the region by supporting a regional revolving business loan fund (ABC), small business consulting (SBDC), and technical assistance with government contracting (PTAC).


The ABC revolving loan fund provides low-interest financing for new and expanding businesses. This assistance is intended to promote the development of business and industrial concerns, to create jobs, leverage other public and private funds, and diversify the area's economy.


RLF assistance will finance both new and expanding for-profit businesses and public or private organizations. Projects must result in the creation or retention of jobs. Loan funds may be used for:
  • Buildings
  • Land
  • Equipment
  • Inventory
  • Working capital

  • Primary bank lender involvement is required in the project. ABC is intended to be a subordinate secondary lender that will fill the “gap” existing in a financing package.
  • Applicant must provide a 10 percent (minimum) equity contribution.
  • Applicant must provide evidence that a portion of the needed financing is unavailable from conventional lending sources.
  • ABC loans will attempt to leverage $2 in private funds for every $1 in RLF assistance.
  • Loan amounts will be determined by the number of jobs being created and/or the economic impact.
  • Low interest—generally less than commercial bank rates (based on project).
  • Term of the loan will be based on the useful life of the asset held as security
  • Repayment schedules will generally be set-up on a monthly basis. Other terms may be available.
  • Personal guarantees are required from all borrowers.
  • A 1 to 1 1/2 percent loan origination fee will be charged on all loans.

    District III staff are available to meet with potential applicants to further explain the RLF program. Private financing must be available before applying for assistance. For more information or to make an appointment, contact Lori or Teresa at District III.

    Once an application has been submitted, District III staff will complete credit checks and analyze the application. This information will be passed on to a Board of Directors, who will review the application and make a loan decision. If the Board requests additional information, the application will be returned and re-evaluated when the information is available. It is the goal of the RLF to act on all complete application packages within 30 days.



    District III has obtained over $4 Million in revolving loan fund assistance through U.S. Dept of Ag/Rural Development. District III is utilizing ABC to offer these funds at attractive terms to borrowers in the 15-county region.

    Funding may be used for land, buildings, equipment, inventory and working capital.
  • 3% interest
  • 1% loan origination fee
  • 5-20 year loan terms
  • Minimum loan amount of $10,000
  • Bank participation way be waived depending on the finanicial condition of the borrower, the nature of the project, and the loan amount. Applicants will be considered under normal underwriting criteria.



    The Small Business Development Center offers no cost confidential business management consulting services to support potential and existing businesses in South Dakota. The Center assists clients in developing business plans, preparing financial projections, or addressing other issues the small businessperson may face.

    The Small Business Development Center is a resource partner of the Small business Administration (SBA) but does not administer any of the SBA's financial programs.

    Follow the SBA link below for funding programs information.

    SBA U.S. Small Business Administration

    Meet the Team

    Our humans are here for you.

    Lori Cowman

    Executive Director Call Lori

    Magni qui quod omnis unde et eos fuga et exercitationem. Odio veritatis perspiciatis quaerat qui aut aut aut

    Sue Stoll

    Associate State Director / Yankton Regional Director South Dakota Small Business Development Center Call Sue

    Provides no-cost professional consulting services to start-up and existing businesses in South Dakota.

    Teresa Kokesh

    Areawide Business Council / SBDC Business Consultant Call Teresa

    Provides no-cost professional consulting services to start-up and existing businesses in South Dakota and assists in managing the Areawide Business Council revolving loan fund.