Small Business Grants in South Dakota (SD)

Securing a small business grant in South Dakota involves identifying the right opportunities, understanding the eligibility criteria, and preparing a compelling application. Here are some of the most relevant opportunities for small businesses in South Dakota:

South Dakota State Government Grants
The local state government in South Dakota provides small business grants to businesses and organizations in the state. Over $10 billion US dollars are paid to employee salaries/payroll alone in the state of South Dakota. The majority of the federal budget in government grants is put into the business sector every year. To apply for business grants in South Dakota, you should contact South Dakota financial aid agencies.

Amber Grants for Women
The Amber Grants for Women is a program that offers a $10,000 grant to businesswomen from South Dakota and all over America. If you’re a recipient, you’re automatically eligible for their year-end Amber Grant of $25,000.

South Dakota Community Foundation’s Beyond Idea Grant Program
The South Dakota Community Foundation’s (SDCF) Beyond Idea Grant Program has awarded seven South Dakota nonprofits with grant awards totaling $569,138.

Federal Funds for South Dakota Businesses
There are $400,000,000 in federal funds for grants up to $500,000 per qualifying business. Eligible businesses must be located in South Dakota, have a reduction in business of at least 15 percent, and not have gross revenues exceeding $38.5 million.

USDA Rural Business Development Grants
The USDA offers Rural Business Development Grants in South Dakota. There are two types of RBDG projects, Opportunity grants and Enterprise grants. Opportunity type grants are limited to up to 10 percent of the total Rural Business Development Grant annual funding.

COVID-19 Relief Grants
Governor Kristi Noem announced up to $345 million in additional grants for small businesses, non-profit organizations, and healthcare providers dealing with the effects of the COVID-19 pandemic. Eligible small businesses and non-profit organizations may apply for up to $195 million in grants to compensate for reductions in cash flow.

Lakota Funds
The Lakota Funds is a program that helps to start and expand businesses and build skills toward long-term employment on a reservation. The award of $765,828, made in 2009, enabled the Lakota Funds to expand its business lending and also work with potential employees.

GROW South Dakota
GROW South Dakota is an organization that supports women-owned businesses. They provide mentorship and financial support to women entrepreneurs in South Dakota.

You should first identify the grants that are most relevant to your business. Then, understand the eligibility criteria for each grant, which may include factors such as the size of your business, the industry you’re in, and the specific use of the funds. Finally, prepare a compelling application that clearly demonstrates how your business meets the grant’s criteria and how the funds will be used to achieve specific outcomes.