Rural Business Development Grants in South Dakota

USDA: Rural Development (RD)

Deadline: Feb 28, 2024 2:30pm PST

Grant amount: US $10,000 - US $500,000

Funding uses: Project / Program, Capital Project, Training / Capacity Building

Location of project: South Dakota

Location of residency: South Dakota

Overview:

What does this program do?

This program is designed to provide technical assistance and training for small rural businesses. Small means that the business has fewer than 50 new workers and less than $1 million in gross revenue.

What kind of funding is available?

There is no maximum grant amount; however, smaller requests are given higher priority. There is no cost sharing requirement. 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.
• Enterprise type grants must be used on projects to benefit small and emerging businesses in rural areas as specified in the grant application.

How may Enterprise type funds be used?

Enterprise grants must be used on projects to benefit small and emerging businesses in rural areas as specified in the grant application. Uses may include:

• Training and technical assistance, such as project planning, business counseling and training, market research, feasibility studies, professional or/technical reports, or producer service improvements.
• Acquisition or development of land, easements, or rights of way; construction, conversion, renovation of buildings; plants, machinery, equipment, access for streets and roads; parking areas and utilities.
• Pollution control and abatement.
• The capitalization of revolving loan funds, including funds that will make loans for start-ups and working capital.
• Rural distance learning for job training and advancement for adult students.
• Rural transportation improvement.
• Community economic development.
• Technology-based economic development.
• Feasibility studies and business plans.
• Leadership and entrepreneur training.
• Rural business incubators.
• Long-term business strategic planning.

How may Opportunity type funds be used?

• Community economic development.
• Technology-based economic development.
• Feasibility studies and business plans.
• Leadership and entrepreneur training.
• Rural business incubators.
• Long-term business strategic planning.

You can learn more about this opportunity by visiting the funder's website.

Eligibility:

• What is an eligible area?
  • Rural Business Development Grant money must be used for projects that benefit rural areas or towns outside the urbanized periphery of any city with a population of 50,000 or more. Check eligible areas.

• Rural public entities including, but not limited to:
• Towns.
• Communities.
• State agencies.
• Authorities.
• Nonprofit corporations.
• Institutions of higher education.
• Federally-recognized tribes.
• Rural cooperatives (if organized as a private nonprofit corporation).