Small Business Administration 504 Loans
—A Proven Method for Financing
Business Start-Ups and Expansions

Over the past decade Black Hills Community Economic Development has closed 80 Small Business Administration Loans. This attractive program helps South Dakotans start or expand all types of small businesses, and it creates jobs and is good for local lending institutions, too. In both small and large communities SBA 504 Loans are significant to the region’s overall economic development.

Fran White (605-381-2591) or fwhite@tie.net provides all assistance an applicant may need to put together a successful loan application.

For borrowers SBA 504 Loans make it possible to leverage more dollars than through standard loans. Often the borrower has to come up with just ten percent of the total project dollars. For lenders there’s incentive to participate because the program gives them first collateral position, allowing them to consider somewhat risky projects they might not be able to think about otherwise. Recently approved loans:

• Thunderbird Lodge – Rapid City
  Community South Bank – Texas
• Thrash’s Wild Idea – Rapid City
  Great Western Bank
• High Country Motors – Sturgis
  First National Bank
• Jenny’s Floral – Custer
  Dacotah Bank – Rapid City
• Dr. Michael Krump DDS – Rapid City
  Security First Bank
• FourFront Deisgn – Rapid City http://www.envisiondesigninc.com/
  US Bank
• Country Store and Three Forks
  First Western Bank – Hill City