SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Only federal loan available to South Dakota residents. More details on the loan provided at the top of the page. For more info please visit

SD 16374-01 SBA Offers Disaster Assistance to South Dakota Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.

Governor Noem’s Small Business Relief Fund

Fund details:

  • Amount: $5,000-$75,000
  • Interest: 0%
  • Fees: none
  • Term: Maximum term of 60 months
  • Automatic Payment Required
  • No-prepayment penalty
  • No payments for initial 6 months
  • Personal guarantees for any owner with at least 20% share of the business
  • Blanket security agreement
  • Loans over $25,000 may require additional collateral

Eligibility requirements:

  • Business must have physical presence in South Dakota
  • Business must have been established prior to March 2020
  • Business must be a small for-profit or non-profit business as defined by SBA, but with less than 250 employees
  • Provide a certification from a South Dakota banker and/or South Dakota CPA that: he/she has reviewed recent financial condition of the applicant, that the applicant’s business has incurred economic injury as a result of the COVID-19 pandemic, and the applicant needs the funds for SD operations
  • Have a personal credit with a minimum score of 650; lower requires a special exception
  • Demonstrate 1:1 debt coverage ratio with the new debt factored under normal circumstances

If you are interested in applying, you can apply online.