Revolving Loan Fund

Serving Northeast South Dakota since 1989

Originally funding for the NECOG Development Corporation’s (NECOG-DC) Revolving Loan Fund (RLF) was through the Northeast Council of Governments in 1989 by the Economic Development Administration (EDA) to promote industrial and economic development in northeast South Dakota. In 1994 NECOG received an Intermediary Relending Program (IRP) loan from USDA Rural Development. The following year, a 501(c)(3) non-profit corporation, NECOG Development Corporation, was created in order to administer the growing loan funds. NECOG-DC has since received: two additional grants from EDA, a multiple IRP loans, a HUD grant to help create a new loan fund specifically for downtown Aberdeen, and a loan from South Dakota’s Rural Economic Development & Initiative Fund (REDI) program. In 2010 the capital base in NECOG-DC’s RLF reached $4 million. (See our success stories.)

NECOG-DC’s RLF program has been capitalized by a number of sources over the years. Major contributions include: EDA, USDA Rural Development, U.S. Department of Housing and Urban Development through the City of Aberdeen, South Dakota’s REDI Fund, and Wells Fargo Community Foundation. Other contributions include: NECOG, South Dakota Community Foundation, Northwestern Public Service, Montana-Dakota Utilities, Dacotah Bank, and US Bank.

To foster economic development, create/retain jobs, stimulate business opportunities, and attract/retain business in northeast South Dakota through various economic programs and relationships with Federal, State, and local officials.

Counties of: Beadle, Brown, Campbell, Day, Edmunds, Faulk, Hand, Marshall, McPherson, Potter, Spink, and Walworth.

• Donald W. Kallenberger, Eureka
• R. Scott Campbell, Frederick
• R. Craig Oberle, Mellette
• Susan K. Meidinger, Aberdeen
• Doug DeBoer, Miller
• Christine Goldsmith, Mobridge
• G. Todd Garry, Webster

• Business Acquisition
• Land/Building Acquisition
• Building Renovation
• Inventory Purchase
• New Building Construction
• Equipment Purchase
• Machine/Supplies
• Leasehold Improvements
• Start-Up Cost
• Permanent Working Capital

• Refinancing of existing debt
• Relocation outside of service area
• Short-term operating loans or bridge loans
• Housing – spec homes, apartments, flipping homes, etc.
• Business whose majority of income comes from alcohol or gambling

The Federal Funding Accountability and Transparency Act of 2006 (FFATA) requires all recipients and sub-recipients of Federal financial assistance, 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

The following general information is to assist you in applying for a NECOG-DC loan. This list is not intended to be all inclusive. If you still have questions about your project’s eligibility, please visit with the RLF Manager. Application – NECOG-DC RLF

  1. Participation of another lender or turn down letter from a financial institution. NECOG-DC does not compete with private lenders and encourages participation of a local lender in all projects.
  2. Equity injection must be at least 10% of the total project cost. Equity can be in the form of cash, other assets, or existing equity in a business.
  3. Project must be located within the twelve county service area.
  4. A business plan and projections are required. The Small Business Development Center (605) 626-2565 will assist in the completion of these.
  5. NECOG-DC’s Board of Director’s meets monthly on all completed applications. Complete applications should be turned in by the 15th day of each month.
Use to calculate approximate loan payment.

The Business Resource Center (BRC) is a one-stop location for public use of business information, education, and assistance designed to help entrepreneurs start, operate, and grow their businesses in South Dakota. Located within the NECOG offices in Aberdeen, materials of the center are self service. With the materials of the Business Resource Center to assist entrepreneurs and individuals looking to start or expand a business they have a great resource to assist them in accomplishing their endeavor.

The Small Business Development Center (SBDC) offers services in business planning, financial projections, and business management. Their many services are beneficial to both the individual looking to start a business or an existing business owner looking to improve or expand their product/service. SBDC’s professional services are confidential and most are at no cost. The SBDC is located at 416 Production St. North, Aberdeen, SD 57401. They can also be reached at (605) 626-2565 or via email.

Click to read the NECOG-DC Privacy Policy

Click to read the NECOG-DC By-Laws (PDF)

Accessibility ImageThis institution is an equal opportunity provider and employer.
 To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD-3027 found at and at any USDA office or write a letter addressed to USDA and provide in the letter all of the information requested in the form. To request a copy of the complaint form, call (866) 632-9992. Submit your completed form or letter to USDA by mail at U.S. Department of Agriculture, Office of Assistant Secretary for Civil Rights, 1400 Independence Avenue SW, Washington, D.C. 20250-9410, by fax (202) 690-7442 or by email at