GROW South Dakota receives State Farm grant to support small business
The Northeast South Dakota Economic Corporation (dba GROW South Dakota) recently received a Good Neighbor Citizenship Grant from State Farm for its technical assistance program for small business borrowers. The purpose of the project is to assist small business loan applicants prepare to borrow money and grow their business.
The technical assistance provided by GROW South Dakota business loan officers will support business owners in various aspects of their operations. Each business will have different needs, but in general, technical assistance comprises starting or expanding a business before, during, and after financing. NESDEC primarily serves northeastern South Dakota, but the grant allows the organization to have a wider reach across the state.
“State Farm is committed to building safer, stronger, and better educated communities. We feel honored to be able to support GROW South Dakota as we also have an emphasis on helping small businesses thrive and creating jobs.” Kelly Pargett, State Farm public relations specialist.
NESDEC celebrates its 40th anniversary in 2018. Through September 30, 2017, the organization had made 1,993 loans to 1,204 businesses for more than $67 million. These loans assisted businesses in creating or maintaining 12,258 jobs.
For information, visit www.growsd.org or call 605-698-7654.