In April 2006, Dakota BUSINESS Finance was designated as a Certified Development Company (CDC) by the Small Business Administration and began offering the SBA 504 program to businesses throughout South Dakota. The territory was later expanded to include portions of IA, MN, and NE.
The SBA 504 Program complements the existing program offered through Dakota BUSINESS Finance's sister organization - the South Eastern Development Foundation (SEDF). SEDF was incorporated in 2002 to serve as a regional revolving loan fund for southeastern South Dakota, including Clay, Lincoln, McCook, Minnehaha, Turner, and Union counties. SEDF provides loans, in conjunction with bank financing, to businesses throughout the region. For more information about the SEDF revolving loan fund, click here.
Dakota BUSINESS Finance and SEDF were both created by the South Eastern Council of Governments (SECOG), which serves municipalities in the six southeastern counties of South Dakota. SECOG provides staffing for both Dakota BUSINESS Finance and SEDF.