South Dakota Business Loans

One of the largest and most important industries in the South Dakota is agriculture, most notably crops and livestock. Agriculture provides over $20 billion to the state’s economy per year, with a majority of these farms being small businesses and family owned and operated. While agriculture is crucial to South Dakota’s economy, the manufacturing industry also plays an important role. Electronics and food processing are key to the states manufacturing industry, business loans in South Dakota help businesses cover these inventory and overhead expenses.

The tourism and hospitality industries are vital to the economy in South Dakota. With beautiful landscape and attractions like Mount Rushmore and the Black Hill caves, visitors from around the world flock to South Dakota every year. Visitor numbers continue to grow, and the tourism industry provides close to $4 billion dollars of revenue and over 40,000 jobs to the state’s economy. Businesses use small business loans and hotel loans in South Dakota to supplement the seasonality of the tourism industry. The casino industry is also a major source of revenue for the South Dakota, with large casinos scattered across the state. SMB Compass provides small business loans in South Dakota to a wide variety of industries and businesses.

SMB Compass has loan programs in South Dakota from $25,000 up to $100 million dollars. SMB compass specializes throughout South Dakota in equipment financing, SBA loans, asset-based lending, bridge loans, invoice factoring, and business lines of credit. Schedule a call with a Lending Advisor today to learn more about the business loan options in South Dakota.