Governor Noem's Small Business Relief Fund Application

06 April 2020

 

GOVERNOR NOEM'S SMALL BUSINESS RELIEF FUND

The Governor’s Office of Economic Development (GOED) understands that during these uncertain and challenging times in our world history, working capital is an issue. Governor Noem’s Small Business Relief Fund is now available to South Dakota businesses that need assistance to help make ends meet.

Appropriate Eligibility Requirements:

  1. Be a small for-profit or non-profit business as defined by SBA, but with less than 250 employees
  2. Physical presence in South Dakota
  3. Established prior to March 2020
  4. 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
  5. Have a personal credit with a minimum score of 650; lower requires a special exception
  6. Demonstrate 1:1 debt coverage ratio with the new debt factored under normal circumstances

More information here:

https://sdreadytowork.com/covid-19/


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