Heartland Economic development Loan Program

Application Information

A completed HELP Fund application is necessary to evaluate the proposed project and make recommendations to the Loan Review Committee. The applicant must also provide additional information including business and financial information and supporting documents upon request.

A non-refundable application fee of $100 is payable at the time an application is submitted. After an initial review by Heartland, the Loan Review Committee will review the project and make a recommendation to the Heartland board of directors, who will determine final course of action. The applicant will be responsible for all closing costs associated with the loan.

Privacy is assured. Applicants’ financial information and trade secrets will be held in confidence and considered as needed in executive session or at meetings that are closed to the public and deemed confidential pursuant to state law.

For assistance when completing this application package, please contact Heartland Director of Economic Development Casey Crabtree at (605) 256-6536.

Completed applications and documentation can be submitted electronically below or printed and mailed to PO Box 248, Madison, SD 57042.


Business Information

( format must be in xxx-xxx-xxxx )

Applicant Information

( format must be in xxx-xxx-xxxx )

Loan Information

Supplemental Funding

Employment Information


If the applicant does not have a DUNS#, apply online at or call 1-866-705-5711

The following information is requested by the federal government for certain types of loans in order to monitor the lender's compliance with equal credit opportunity. You are not required to furnish this information, but are encouraged to do so. The law provides that a lender may not discriminate on the basis of this information, nor on whether you choose to furnish it. However, if you choose not to furnish it, under federal regulations this lender is required to note race and sex on the basis of visual observation or surname. If you do not wish to furnish the information, please check the box.

In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administrating USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs). Remedies and complaint filing deadlines vary by program or incident.

Persons with disabilities who require alternative means of communication for program information (e.g., Braille, large print, audiotape, American Sign Language, etc.) should contact the responsible Agency or USDA's TARGET Center at (202) 760-2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877-8339. Additionally, program information may be made available in languages other than English.

To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD-3027, found online 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:

         (1)  mail: U.S. Department of Agriculture
                       Office of the Assistant Secretary for Civil Rights
                       1400 Independence Avenue, SW
                       Washington, D.C. 20250-9410;

         (2)  fax: (202) 690-7442; or

         (3)  email:

This institution is an equal opportunity provider, employer and lender.

Heartland Consumers Power District is an Equal Employment Opportunity Employer. Discrimination because of gender, race, color, religion, national origin, age, disability or veteran’s status is prohibited. Heartland recruits, hires, trains and promotes the most qualified person into all levels without regard to age, race, color, religion, national origin, gender or disability (except where disability and gender are bonafide occupational qualification).


I/We hereby certify that the information contained in this application is correct to the best of my/our knowledge.

I/We hereby certify that I/we have read, understand and agree to the terms and conditions of the HELP Fund.

I/We grant the HELP Fund Board and staff the authorization to make all inquiries, including but not limited to, credit, as deemed necessary to verify the accuracy of the statements made herein with this application.

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Program Information
The Heartland Economic development Loan Program (HELP) Fund is a revolving loan fund established by Heartland to encourage economic development and growth in customer communities. Loans are provided to customers, their economic development corporations and new and expanding businesses served by Heartland customers. Loans are awarded for projects that advance the purpose of the district by encouraging
and extending the use of electric energy, for business ownership and expansion, job retention and creation and entrepreneurial enterprises. 

A minimum of 10% equity contribution from the applicant is required as well as participation from a  commercial lender. The Fund works closely with applicants to apply for additional financing through local banks, federal, state and local agencies and other loan funds (local, regional, state and federal programs). Depending on the loan type, we may require documentation stating said institution cannot finance the entire project, thus creating the need for a partner (the Fund) to participate.

Via an Intermediary Relending Program (IRP), Heartland will match 25% of the total participation and the United States Department of Agriculture (USDA) will match 75%.

Heartland will assist applicants in preparing the application and packaging free of charge. Fees such as filing fees, attorney fees, abstracting costs and other fees appropriate to the loan will be paid by the applicant and may be included in the IRP financing. All fees and charges will be documented and justified at the time the loan request is submitted to Rural Development for processing.

The loan review committee determines loan interest rates. Loans may be limited to a maximum of 20 years for land, building and permanent fixtures; 15 years or useful lifespan for machinery or equipment, and 7 years for working capital.

If loan funds are committed, they must be used within 60 days. If funds are not used within 60 days, interest will accrue at the rate specified for your loan or the funds will be returned to the HELP Fund.

For new construction or expansion projects, the applicant must have approval from the Loan Review committee prior to beginning the project. Failure to do so will jeopardize loan fund eligibility.