IRP Revolving Loan Fund Application

The Grant County Development Corporation’s Intermediary Relending Program (IRP) provides flexible gap financing to support new and expanding businesses in Grant County. Funds may be used for eligible project costs such as equipment, furniture and fixtures, inventory, working capital, accounts receivable, and other approved business expenses.

IRP financing is intended to complement—not replace—conventional financing and owner investment. GCDC does not typically finance an entire project. Applicants are expected to demonstrate other committed funding sources, which may include a participating bank loan, borrower equity, or additional public or private financing.

Complete the application below and submit it with a business plan, financial history, projections, and other supporting documentation. Applications are subject to underwriting, available funding, program eligibility requirements, and approval by the GCDC Board of Directors. Submission of an application does not guarantee financing.

Grant County Development Corporation

IRP Revolving Loan Fund · Application for Gap Financing

1001 E 4th Ave, Milbank SD 57252
(605) 438-4232

Before you begin

The primary objective of the GCDC Revolving Loan Fund is to assist projects that contribute to rural development, retain or create jobs, improve rural infrastructure, and meet unmet needs in Grant County. The Fund participates alongside financial institutions and other lenders to maximize the capital available for development projects.

The GCDC Board of Directors requires that all applicants for financing complete a business plan, including financial history and projections. If you have already completed a business plan for your operation, please submit it along with this application.

Incomplete applications will be returned. The GCDC Loan Fund may not process any application that is not complete. Fields marked * are required.

Your application is complete

Choose either way to submit it, along with your business plan:

  1. Print and deliver: use the Print / Save as PDF button below, then mail or drop off your signed application at 1001 E 4th Ave, Milbank SD 57252.
  2. Email: in the print dialog choose Save as PDF, then email the PDF and your business plan to grantcountydevelopment@gmail.com.

For your protection, do not include Social Security numbers in an emailed application — GCDC will collect any required SSNs securely by phone or in person.

1

General Business Information

Enter the business name.
Describe the type of business.
Enter a contact person.
Enter the current address.
Enter a telephone number.
Enter the date established.
Enter the Federal ID number.
2

Management

Proprietor, partners & stockholders with more than 20% ownership
Owners & principals

Social Security numbers are optional on this form. For your protection, GCDC will collect any required SSNs securely by phone or in person — please do not email them.

Business structure
Business entity type
Select the entity type.
Who is borrowing in this project?
Select who is borrowing.
Corporate officers (if applicable)
Employment & job creation
Enter a number (0 is fine).
Enter a number (0 is fine).
Describe the business.
Describe your previous experience.
3

Banking & Funding

Sources & uses of funds
Enter the bank name.
Enter the borrower name for the loan.
Enter the request date.
Sources & uses of funds

Proposed use of funds

Total uses$0

Proposed source of funds

Total sources$0
Enter amounts above — total uses and total sources must be equal.
Specify the source of the borrower's injection.
Enter a term from 1 to 10 years.
Enter the requested amount.
Describe the collateral, its value, and any liens.
Legal history

Has the company or its officers filed bankruptcy or other legal proceedings?

Is the company or its officers involved in pending lawsuits?

4

Federal Monitoring Information

Voluntary

The following information is requested by the federal government to monitor compliance with federal laws prohibiting discrimination against loan applicants on the basis of race, national origin, and sex. You are not required to furnish this information, but are encouraged to do so. It will not be used in the evaluation of your application or to discriminate against you in any way. However, if you choose not to furnish it, Rural Development is required to note the race/national origin and sex of individual applicants on the basis of visual observation or surname.

Race / national origin (check any that apply — optional)
5

Certification & Signatures

All information contained in this application or in schedules attached hereto is true and complete to the best knowledge and belief of the applicant, and there is no intent to deceive or defraud the Grant County Economic Development Revolving Loan Fund or any potential participant in any loans to finance the project.

Enter the applicant company name.
Enter the authorized official's name.
Enter the official's title.
Type your full legal name as your signature.
Enter the signature date.

A handwritten signature line will appear on the printed copy. If you print and mail your application, please also sign it in ink.

Signature of authorized official (ink)
Date
Complete all required fields, then check your application.