The Board of Directors for Big Stone Area Growth (BSAG) is excited to report the establishment of a new resource for area businesses looking to start or expand. The BSAG Revolving Loan Fund can provide gap financing for businesses which are creating new employment within the county. The fund was made possible through a $99,000 from the USDA Rural Business Enterprise Grant program.
The intent of the loan fund is to create at least one new job for every $10,000 loaned out to area businesses. The fund acts as a gap lender by filling in business funding needs that aren’t available from traditional sources such as banks and other business development loan funds. Loan funds can be used for a variety of activities, including land, construction, equipment and operating capital. The loan fund will not act as the sole lender in a project and requires the business to provide some equity into the project.
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RLF Guidelines and Application Form (Word Doc Fill-in Form)
RLF Guidelines and Application Form PDF