Incentives

Financing Facts:

• Businesses Provided Financing: 28
• Project Costs: $2.565 Million
• Total Number of Loans Financed: 33
• Jobs Created/Retained: 132
• Total Dollars Financed by MEDCO: $742,500

MEDCO provides various levels of small business financing at affordable rates and reasonable terms to assist with every stage of a company's growth. It all starts with a loan application to MEDCO, which will be confidentially reviewed by our local Board.

Mobridge_RLF_Application_2012.docx

DUNS NUMBER
The Federal Funding Accountability and Transparency Act of 2006 (FFATA) requires all recipients and sub-recipients of Federal financial assitance, EXCEPT INDIVIDUALS, are required to have a DUNS number. The Data Universal Numbering System (DUNS) is a unique nine-character identification number provided by the commercial company Dun and Bradstreet (D&B). To obtain a DUNS number, free of charge, contact D&B at (866) 705-5711 or https://www.dnb.com.

Its also a good idea to check into your personal credit report before applying for any financing. You can receive one free report per year through the Federal Trade Commission.

MEDCO Revolving Loan Fund

Available to start up companies and businesses that are expanding or relocating to Walworth, Campbell, Corson, and Dewey counties.

MEDCO targets applicants needing gap financing to partner with banks and those unable to obtain suitable business financing for their needs.

Borrowers are charged interest rates relevant to the risk of the project and the going market rate. Terms will be set to match the life of the assets financed. Down payments vary and can be provided in both cash and non cash forms.

Mobridge Storefront Fund:

Originally established to asset with the renovation and enhancement of Main Street buildings only, the MEDCO Board recently modified this loan program to be available to any Mobridge business desiring to update and improve their storefront.

Requests can include new signage, exterior fixtures and lighting, sidewalks and parking, windows/doors, roofing repairs, and other various improvements to building frontage. Applicants must own the building and 'before' and 'after' drawings of the project must accompany the application.

Borrowers are charged interest rates of up to 4% for 5 year or less terms and up to 5% for terms between 5 and 7 years. No down payment or bank participation is required.

Rural Microentrepreneur Assistance Loan Program:

Up to $50,000 is available to start up companies, and expanding or relocating businesses in Walworth, Campbell, Corson, and Dewey counties.

MEDCO targets applicants needing gap financing to partner with banks and those unable to obtain suitable business financing for their needs.

Borrowers are charged interest rates relevant to the risk of the project and the going market rate. Terms will be set to match the life of the assets financed. Down payments vary and can be provided in both cash and non cash forms.