The purpose of this program is to help stimulate business growth by providing low-interest loans for expansion or start-up. For every $20,000 of funds lent in this program, one job must be created. The borrowing business must provide matching funds for the expansion or start-up project. These matching funds may come from the business owner’s own equity or loans from a bank or other investor. Minimum loans are $10,000. The designated region includes the Counties of Treasure, Rosebud, Custer, and Powder River.
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Applications for loans are evaluated on such criteria as collateral, credit history, a business plan including cash flow projections, feasibility, and business experience or training of the applicant. Each application is reviewed on an individual basis. All applicants must complete a business plan.
Successful applicants will be required to furnish financial statements on a periodic basis as well as be willing to open their business up for review when requested.
All businesses in the designated region are eligible regardless of race, color, national origin, gender, religion, marital status, or disability.
Limited funds are currently in the program to lend.