Small Business Financing Rapid City SD

Looking for Small Business Financing in Rapid City? We have compiled a list of businesses and services around Rapid City that should help you with your search. We hope this page helps you find Small Business Financing in Rapid City.

Richard Kahler
Kahler Financial Group
(605) 343-1400
1010 9th Street, Suite 1
Rapid City, SD
Expertises
Real Estate Investments, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFP

Mr. Thietje A. Hunt, CFP®
(605) 399-2741
2040 W Main St
Rapid City, SD
Firm
Ameriprise Financial Services
Areas of Specialization
Estate Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Legal Professionals

Data Provided By:
Ms. Myrna L. Mitchell, CFP®
(605) 343-1408
4116 Heidiway Ct
Rapid City, SD
Firm
Consultative Services, Inc. dba Myrna Mitchell, MBA, CFP
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Education Planning, Elder Care, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided By:
Mr. Duncan D. Mcrae, CFP®
(605) 721-9588
2800 Jackson Blvd.
Rapid City, SD
Firm
Investment Centers of America
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided By:
Tobin L. Mason, CFP®
(605) 716-3177
628 1/2 6th St Ste 214
Rapid City, SD
Firm
Modern Woodmen of America
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Insurance Planning, Investment Management, Investment Planning

Data Provided By:
Mr. Donald L. Frankenfeld, CFP®
(605) 348-8441
3601 Canyon Lake Dr Ste 2
Rapid City, SD
Firm
Frankenfeld Associates

Data Provided By:
Mr. David W. Schmidt, CFP®
(605) 342-5434
2834 Jackson Blvd
Rapid City, SD
Firm
Dave Schmidt Insurance Agency,

Data Provided By:
Mr. Christopher B. Green, CFP®
7145 Prestwick Rd
Rapid City, SD
Firm
Green Wealth Management, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000



Data Provided By:
Mr. Richard S. Kahler, CFP®
(605) 343-1400
1010 9th St Ste 1
Rapid City, SD
Firm
Kahler Financial Group
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, General Financial Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided By:
Mr. Jeffrey A Meyer, CFP®
(605) 415-4942
840 Mount Rushmore Rd Ste 201
Rapid City, SD
Firm
Seacrest Wealth Management
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000



Data Provided By:
Data Provided By:

Business Financing From The SBA / Small Business Administration

The Small Business Administration is the most useful resource available to startups and established small businesses. An Independent agency of the Executive branch of the Federal Government, the SBA has the responsibility of providing assistance to American small businesses in the areas of advocacy, management, procurement, and financial assistance. The SBA financing comes in the forms of investment programs, business loan programs, disaster loan programs, and bonding for contractors. In most cases, the SBA should be the first business financing resource a small business owner looks to for their financing needs.

The SBA has three different loan programs for small business financing . It is important to know that while the SBA has these programs, they do not actually provide the business financing . The SBA sets the guidelines for these loans, then their partners, which include lenders, community development organizations, and microlending institutions, actually make the loan to small businesses . The SBA guarantees the loans, to reduce the risk to the lenders.

The first type of business loan that the SBA offers is the Basic 7(a) Loan Guaranty. When a small business is unable to obtain financing from other sources, this is the primary business loan program offered. This is the SBA's most flexible business financing program, and it is ideal for start up business financing as well as established business financing . This type of new business financing can be used for most business purposes, such as working capital, equipment, office furnishings, land and building, leases, and even debt refinancing. The maturity date of the loan varies, depending on what the loan is used for. For working capital, the loan maturity is up to 10 years, while it is generally up to 25 years for fixed assets.

There are several different variations of the Basic 7(a) loan program, designed to fill specific needs. This type of loan is the closest a small business owner can get to free business financing, because any fees that the SBA has for administration are charged to the lender. However, the lender does have the right to make those fees a part of your loan, which means that you may ultimately pay those fees.

The second type of loan that the SBA offers is the Microloan. This is known as the 7(m) loan program. These are short-term loans of up to $35,000, and are primarily for small businesses and non-profit child care centers. They are meant to provide working capital, inventory purchases, supplies, furnishings, and equipment. They may not be used to pay existing debts or to purchase real estate. This type of business financing is great for business owners who wish to expand.

The third type of small business financing available through the SBA is a Certified Development Company (CDC) loan. Known as the 504 loan program, these loans should only be sought by businesses that require brick and mortar financing . These are long-term...

Click here to read the rest of this article from GlobalBx