Release Date: June 5, 2012 Contact: Michele Arends
Release Number: 2091 (605) 330-4243, ext. 11
SMALL BUSINESS ADMINISTRATION
SOUTH DAKOTA DISTRICT OFFICE ANNOUNCES
2011 ASSET BUILDER AWARD WINNERS
Sioux Falls – The South Dakota Small Business Administration District Office has awarded Dakota BUSINESS Finance, Sioux Falls, and Black Hills Community Economic Development, Rapid City, as recipients of the 2011 Asset Builder Award. These awards recognize the Certified Development Company (CDC) with the largest total loan volume and largest total dollars approved in fiscal year 2011.
Dakota BUSINESS Finance (DBF) had the largest approved loan volume, originating 25 loans totaling over $5 million during the year. Dakota BUSINESS Finance was also the overall leader in all of the SBA loan programs for FY 2011. This was the first time a Certified Development Company (CDC) held that title. Black Hills Community Economic Development (BHCED) had the largest dollar amount approved totaling over $14 million (13 loans) in fiscal year 2011. This was also a record setting accomplishment for BHCED as this is largest loan dollar amount ever approved in in the history of the South Dakota District Office.
Since becoming a Certified Development Company (CDC) in 2006, Dakota BUSINESS Finance has processed 93 SBA 504 loan applications totaling over $25 million. Established in 1990, Black Hills Community Economic Development has loaned over $60 million in SBA 504 financing to169 new or expanding businesses.
“Two remarkable achievements in the same year – small businesses in South Dakota are lucky to have these great CDC’s on their side,” said John L. Brown II, District Director of the South Dakota District Office.
First District Development Company, Dakota Business Finance, Black Hills Community Economic Development, Inc., South Dakota Development Corporation, Prairieland Economic Development Corporation, and Siouxland Economic Development Corporation are licensed by the Small Business Administration (SBA) to offer the SBA 504 Loan Program in South Dakota.
For more information about all of the SBA’s programs for small businesses, visit the SBA’s extensive website at www.sba.gov