RAPID CITY, SD – The West River Foundation for Economic & Community Development (WRFECD) has established a new revolving loan fund in partnership with the US Economic Development Administration (EDA).
The $1 million revolving loan fund creates an additional source of capital for small business owners located in Pennington, Perkins, Fall River, Butte, Meade, Custer, and Bennett counties. These counties experienced numerous natural disasters in 2019 that resulted in two FEMA Presidential Disaster Declarations.
This economic development recovery tool is designed to retain and create jobs by expanding the capacity of existing local businesses, as well as supporting new business start-ups in the impacted areas. Unlike other revolving loan funds administered by the West River Business Service Center, this fund is available to small businesses located in Rapid City.
For more information on the revolving loan fund, or to apply for funds, please contact the West River Business Service Center at 605-721-7437.
