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South Dakota Revolving Economic Development and Initiative (REDI) Fund
General · South Dakota Governor's Office of Economic Development (GOED) · SD
The South Dakota REDI Fund is a low-interest state loan program, run by the Governor's Office of Economic Development, for start-up, expanding, or relocating businesses in South Dakota that need financing for land, construction, or equipment tied to job creation — it's a loan, not a grant, and requires a 10% equity match.
The South Dakota Revolving Economic Development and Initiative (REDI) Fund is a state-administered loan program run by the South Dakota Governor's Office of Economic Development (GOED). Despite the word "Fund" and its listing here alongside grant programs, REDI is a low-interest loan, not a cash grant — applicants must repay the financing over time. The program currently offers financing at a base rate of around 3%, and applicants are required to make a minimum 10% equity contribution as part of the funding package before the Board of Economic Development approves a project.
REDI Fund dollars are intended to help cover land, construction, and equipment costs tied to job-creating business projects in South Dakota. This makes it relevant to start-up companies, businesses expanding their operations, businesses relocating into the state, and local economic development corporations working on qualifying projects.
For a small-business owner, REDI can be a useful lower-cost capital source for major fixed-asset investments (buildings, land, machinery) tied to job creation, rather than for day-to-day operating costs. Because it is a loan program administered by a board, approval isn't automatic — projects go through a review and matching-funds requirement before financing is released.
Specific details such as current loan caps, interest rate changes, application rounds, and deadlines are not fixed and should be confirmed directly with GOED. This listing reflects the general structure of the program as described by the sponsor; applicants should check the official REDI Fund page for the most current terms before applying.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is a low-interest loan program, not a cash grant, despite "Fund" in the name.
Do I have to repay the money?
Yes, REDI Fund financing must be repaid; it is not free money.
Who is eligible?
Start-up firms, businesses expanding or relocating in South Dakota, and local economic development corporations.
How much funding can I get?
Confirm at the official source — the current award amount is not specified here beyond a 3% base interest rate.
What is the interest rate?
The base rate is currently listed as around 3%, but confirm the current rate at the official source.
Do I need to contribute my own money?
Yes, a minimum 10% equity contribution is required as part of the funding package.
What can the funds be used for?
Land, construction, and equipment costs for job-creating business projects.
Who approves applications?
The South Dakota Board of Economic Development approves projects.
What is the application deadline?
Deadline is listed as "check current rounds" — confirm at the official source.
Who administers this program?
The South Dakota Governor's Office of Economic Development (GOED).
Is this available outside South Dakota?
No, it is limited to South Dakota (SD).
Where do I apply?
Through the official GOED REDI Fund page at https://sdgoed.com/program/redi-fund/.
Is the funding taxable?
Confirm at the official source — tax treatment is not specified in the given information.
Opportunity number: not published. Source: curated + verified (official state source, 2026). GetFundedUSA is independent and not affiliated with South Dakota Governor's Office of Economic Development (GOED); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.