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CIF - Community Investment Fund information - Building South Dakota!

The South Dakota Rural Enterprise Capital Investment Fund (CIF) builds financial capacity of South Dakota's Economic Development Corporations and Revolving Loan Funds who finance local development projects.

Capital Investment Fund loans

  1. Term is 10 years with a 5 year rate review.
  2. Rate is 4.75% for the first 5 years with a maximum rate of 5% at the 5 year rate review for the remaining term.
  3. Repayment is interest only payments due quarterly. Principal due at maturity.
  4. Loan Fee is 1% of the principal amount due at origination or upon renewal.
  5. Application Fee is $500. If loan is approved, the application fee will be applied to the 1% Loan Fee.
  6. No Prepayment Penalty for early principal payment.
  7. Unsecured credit with no collateral requirement.
  8. May be renewed at maturity, subject to prevailing rates and fee’s at time of renewal.
  9. Flexible - with neither job creation requirements nor limits or restrictions on the kinds of projects or businesses financed.
  10. Can be used as local matching funds when applying for State, Federal or other sources of funding
  11. Blend with other funds to achieve an attractive effective interest rate.
  12. $50,000 minimum loan
  13. Loan maximum depends on the size of the Economic Development Corporation or Revolving Loan Fund's current capital pool and the experience of the organization.
  14. Approval process is streamlined and timely. (See application)

Potential uses of funds

  • Micro Loans
  • Business Loans
  • Community Loans
  • Leasehold Property Development
  • Industrial Park Development
  • Other Financial Products

Qualifying for Fund loans
In order to qualify, Economic Development Corporations and Revolving Loan Funds, including start-ups, must demonstrate capacity to use capital productively by evidence of:
  • A mission consistent with South Dakota Rural Enterprise's mission
  • Sound management and governance
  • Adequate capital source
  • A need for loan captial
We underwrite the organization - not the projects that will be funded.

Click here for a printable Capital Investment Fund loan application. For additional information or to request an application, contact South Dakota Rural Enterprise at 605-978-2804 of email us at .

Click on a topic to zoom to CIF details:
  CIF loan application
  CIF loan information
  CIF loans to development organizations
  Potential uses of funds
  Qualifying for loans
629 S. Minnesota Ave.
Suite 201
P.O. Box 2282
Sioux Falls, SD

ph 605.978.2804

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