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Elevate Rapid City Revolving Loan Fund
Gap financing for Rapid City and Black Hills businesses that need capital to qualify for bank financing.
About this program
Elevate Rapid City promotes financing incentives including a revolving loan fund that can provide small business gap financing and help businesses develop the strength needed for bank financing. The fund is part of the organization’s business expansion and incentive toolkit.
Eligibility
Eligible Rapid City and regional businesses with viable projects, repayment ability, and need for gap financing.
Requirements
- Contact Elevate Rapid City business development staff
- Provide business financials, project budget, financing gap, collateral, and use-of-funds documentation
- Meet loan committee underwriting, repayment, and public benefit requirements