< Go Back to Previous Page

Regional Financing and Incentives
Regional Economic Development Funds:

 

South Central Revolving Loan Fund

  • Gap financing based on the number of jobs created or retained ranges from $2,500 to $130,000, limited to one-third of the total project investment. 
  • Interest rates are typically below market rates.

Intermediary Relending Program (IRP)

  • Direct and indirect loans are available to any business and can fund up to 100% of project costs contingent upon availability of funds. Through IRP, USDA provides loans to private non-profit organizations, public entities and other intermediaries to finance business facilities and community development projects in rural communities with a population of fewer than 25,000 people. South Central Dakota Regional Council (SCDRC) is authorized as the intermediary in the lending process. 
  • Fixed-rate loans cover up to 75 percent of eligible project costs, with a maximum of $150,000. The applicant is required to supply at least 10 percent equity.
  • Eligible uses include real estate, fixed assets, working capital and/or inventory. Repayment terms are based on the use of the loan proceeds or the life of the assets being financed. Generally, the term is 7 years or less.

Community Development Loan Fund

  • Loan amounts are based on the number of jobs created or retained. 
  • Favorable terms include lower interest rates, limited principal deferment and subordinated debt. 
  • Loan funds can be utilized for 50% of the total project investment.

Quick Contact

Valley City - Barnes County Development Corporation
250 West Main Street
Valley City ND 58702

Phone: 701-840-7820
Fax: 701-845-1892
Email: vdg@hellovalley.com

ico

NEWS & EVENTS

VCSU Career Fair

VCSU Career Fair

Posted

Register for VCSU and UJ's annual career fair today! The fair will be held in Valley City on February 12th...
VCBCDC Membership Information

VCBCDC Membership Information

Posted

The Valley City - Barnes County Development Corporation is thankful for all the wonderful members that allow us to continue improving quality of life for Valley City and Barnes County. Learn more about what we do for our members...

> View All News & Updates

FEATURED MEMBERS:

Dakota Cat

Member Stories:

No Results to Display.