Small business owners in South Dakota will soon see a boost in the number of private loans. The U.S. Treasury Department is expanding its lending program by adding about $4.5 million for small businesses.
This federal funding has been allocated in the hopes that it will increase jobs, boost the economy, and help foster a good community for businesses to start, grow, and thrive. The South Dakota WORKS program helps businesses looking for new financing for necessary projects such as: start up costs, working capital, payroll, inventory needs and interim construction loans. Many of these loans will be available through local banking institutions.
Check out some advice from professionals and articles on alternative lending here.
Photo Credit: Jason Riedy, Flickr