South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:07 - Agriculture enterprise programs
Chapter 12:07:12 - Rural development loans and participations
Section 12:07:12:08 - Equity contribution
Universal Citation: SD Admin Rules 12:07:12:08
Current through Register Vol. 50, page 114, March 25, 2024
An applicant must provide a minimum equity contribution of 20 percent of the total project costs. In-kind contributions, completed work, and unencumbered tangible security may be applied toward the equity contribution and total project costs if, in the judgment of the office and the lender, such contributions sufficiently contribute to the current project.
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.
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