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.
Valley City - Barnes County Development Corporation
250 West Main Street
Valley City ND 58702
- AVAILABLE PROPERTIES
- FINANCING & INCENTIVES
- BUSINESS READY TO HELP YOU
- GETTING STARTED LIVING LIFE HERE