SBA 504 Program (South Dakota)

From Open Energy Information


Last modified on February 12, 2015.

EZFeed Policy

Place South Dakota



Name SBA 504 Program (South Dakota)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes
Implementing Sector State/Province















Primary Website http://www.sdreadytowork.com/Financing-Incentives/SBA-504.aspx


Last Review 2014-08-01
Last Substantive Modification
to Summary
2014-08-01



Summary

The SBA 504 Program offers long-tem, fixed rate financing (10-20 years) at reasonable rates comparable to long-term U.S. Treasury bonds. Typically the 504 loan has a 50-40-10 structure where fifty percent (50%) of the project is financed by a regulated lender that receives a first mortgage position on all project collateral. The 40% is provided by the South Dakota Development Corporation and the remaining 10% is borrower equity. To qualify, the net worth of an eligible business may not exceed $7.5 million and its net profit after taxes must not have exceeded an average of $2.5 million during the previous two years.


Policy Contact

Contact Name LaJena Gruis, 504 Loan Officer
Department South Dakota Governor's Office of Economic Development
Address 711 E. Wells Avenue
Place Pierre, South Dakota
Zip/Postal Code 57501
Phone 1-800-872-6190
Phone 2 (605) 773-3301
Email goedinfo@state.sd.us
Website http://www.sdreadytowork.com/Financing-Incentives/SBA-504.aspx


















References