Grow South Dakota
GROW South Dakota is a statewide nonprofit community development financial institution founded in 1966, providing housing counseling, small business lending, and economic development services to rural, tribal, and low-to-moderate-income communities across South Dakota.
- Company typePrivate
- Founded1966
- HeadquartersSisseton, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Grow South Dakota does
GROW South Dakota (formerly NESDCAP), founded in 1966 and headquartered in Sisseton, South Dakota, is a statewide nonprofit community development organization operating across three integrated program areas: housing development and HUD-approved counseling, small business lending and SBDC advisory services, and broader community/economic development. The organization holds a stack of regulated designations — certified Community Development Financial Institution (CDFI), HUD-approved housing counseling agency, NeighborWorks chartered member, and SBA Microloan intermediary — that collectively define its operating perimeter and protect its market position in rural and tribal South Dakota.
Its core asset is a loan portfolio of more than $50.65 million across 1,480+ active loans as of 2024, supplemented by housing counseling caseloads, SBDC advisory engagements, and place-based community development projects spanning 16+ counties. Revenue is generated through net interest income on the loan portfolio, foundation and corporate grants (Wells Fargo Foundation, FHLB Des Moines), federal program allocations (HUD, SBA), pass-through award administration, and fees from counseling and advisory services. Distribution is direct: the organization works with low-to-moderate-income households, small businesses, Native American communities, and local governments across the state.
GROW South Dakota is led by Co-CEOs Marcia Erickson and Lori Finnesand, with an estimated 11–50 staff. Recent milestones include a record 2024 program year with $6.4 million in facilitated awards, a $1 million Wells Fargo Foundation commitment in 2025 directed at rural and tribal communities, a $341,250 FHLB Des Moines grant in 2026, and a Digital Literacy Program launched in April 2023 that broadened the organization's service surface beyond financial products.
Grow South Dakota firmographics
Firmographics- Name
- Grow South Dakota
- Legal name
- GROW South Dakota
- Website
- https://growsd.org
- Company type
- Private
- Founded year
- 1966
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- GROW South Dakota is a statewide nonprofit community development financial institution founded in 1966, providing housing counseling, small business lending, and economic development services to rural, tribal, and low-to-moderate-income communities across South Dakota.
- Ownership category
- akta.pro rank
Grow South Dakota industry classification
Industry- Product category
- Community Development Financial Services
- NAICS
- Educational Services (611)
- SIC
- Services-Educational Services (8200)
- akta.pro primary industry
- Community Development & Neighborhood Revitalization (CDBG, Place-Based Initiatives) (BPAIANAE)
Keywords
Where Grow South Dakota is headquartered
LocationHeadquarters
- HQ city
- Sisseton
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Grow South Dakota business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Loan Interest and Fees: GROW South Dakota generates revenue through interest on mortgage and business loans, including down payment assistance loans provided as 0% interest, deferred payment second mortgages.
- Grant Funding: The organization receives grant funding from government programs (USDA, CDFI Fund, FHLB Des Moines), foundations (Wells Fargo Foundation), and partners like NeighborWorks America to support operations and program delivery.
- Donations: The organization accepts donations to support emergency assistance programs and community development initiatives.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Down Payment Assistance - 0% interest, deferred payment loan |
| One time/ perpetual license | Monthly | Home Mortgage Loans - Direct loan program |
| Transaction based/ take rate | Monthly | Business Loans - Flexible financing |
| Freemium | Annual | Homebuyer Education - Free course |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels10 records
Grow South Dakota product offering
Product offeringCore offering
Grow South Dakota is a statewide non-profit Community Development Financial Institution (CDFI) that provides direct mortgage loans, down payment assistance, and small business loans, along with HUD-approved homebuyer education, financial coaching, weatherization assistance, and rental housing. It operates as an SBA Microloan Program intermediary and hosts the Small Business Development Center to deliver no-cost business consulting across South Dakota.
Product overview
GROW South Dakota is a statewide non-profit organization offering a comprehensive suite of housing, community, and economic development programs. The organization provides home mortgage loans (up to $300,000) and down payment assistance ($5,000-$7,500) for homebuyers, complemented by HUD-approved homebuyer education and financial coaching. For businesses, GROW SD offers lending programs ($500-$400,000 range) and business coaching, hosting the Small Business Development Center since 2000. Additional services include weatherization assistance, emergency furnace repair, apartment rentals, homes for sale, the Governor's House pre-built home program, digital literacy training, and SBA Microloan intermediary services. These programs work together to advance sustainable communities through integrated housing, business, and community development.
Differentiator
Problem solved
Functional benefit
Products and services
- Home Mortgage Loans
- Down Payment Assistance (DPA)
- Homebuyer Education Course
- Financial Coaching/Counseling
- Business Lending
- Business Coaching
- Small Business Development Center (SBDC)
- Weatherization Assistance Program
- Emergency Furnace Repair/Replacement
- Apartment Complex Rentals
- Homes for Sale
- Governor's House Program
- Digital Literacy / Learn to Earn a Device Program
- SBA Microloan Program
Quantifiable outcome
- Record year in 2024 with over 1,480 active loans totaling more than $50.65M
- +4 more outcomes
Companies that use Grow South Dakota
Customer profileNamed customers12 records
Segments6 records
Ideal customer profiles3 records
Grow South Dakota technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Grow South Dakota partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, major and minor.
- AkiptancoreNative-led community development financial institution. GROW SD and Akiptan each received $500,000 from Wells Fargo Foundation. Collaboration supports farm producers and rural entrepreneurs across Indian Country, particularly in South Dakota.
- Sisseton Economic Development Corporation (SEDC)coreStrategic collaboration addressing housing challenges in Sisseton. SEDC acquired property for development; GROW SD provided expertise in marketing, recruitment, and navigating development complexities. Partnership facilitated housing study identifying shortage of 16 homeownership and 66 rental units.
- South Dakota Housing Development AuthoritymajorPartnership with City of Sisseton and SD Housing Development Authority to finance housing study. Also local marketing representative for Governor's House affordable pre-built energy efficient homes.
- NeighborWorks AmericacoreGROW South Dakota has been a chartered member of NeighborWorks America since May 2007. The partnership provides capacity building support, grants (Big Idea Grant), and access to network resources for housing and community development initiatives.
- U.S. Small Business Administration (SBA)coreGROW South Dakota is an approved intermediary for SBA Microloan Program. Also partners through SBA Community Navigator Pilot Program with Startup Sioux Falls to provide technical assistance including financial management, QuickBooks training, Cybersecurity, and funding access.
- Small Business Development Center (SBDC)coreGROW South Dakota has been the host organization for SBDC since January 2000. SBDC offers no-cost, confidential business management consulting services for potential and existing small businesses including business plan development, financial projections, and operational guidance.
- Dakota State UniversityminorPartnership with Dakota State University to offer Cybersecurity classes, teaching participants to protect themselves from online threats including password security and hacking awareness.
- VerizonminorVerizon Small Business Digital Ready Program partnership offering free educational courses, mentorship opportunities, and grant opportunities for small businesses. GROW SD promotes this resource to its business clients.
- Inter-Lakes Community Action PartnershipminorOne of four Community Action Agencies in South Dakota. GROW South Dakota serves different counties (Beadle, Brown, Campbell, Day, Edmunds, Faulk, Hand, Hughes, Hyde, McPherson, Marshall, Potter, Roberts, Spink, Stanley, Sully, Walworth).
- Rural Office of Community ServicesminorOne of four Community Action Agencies in South Dakota serving counties including Aurora, Bon Homme, Brule, Buffalo, Charles Mix, Clay, Davison, Douglas, Gregory, Hanson, Hutchinson, and others.
- Western South Dakota Community ActionminorOne of four Community Action Agencies in South Dakota serving western counties including Bennett, Butte, Corson, Custer, Dewey, Fall River, Haakon, Harding, Jackson, Lawrence, Meade, Perkins, Oglala Lakota, Pennington, Ziebach.
- City of SissetonmajorPartnership with City of Sisseton and SD Housing Development Authority to finance housing study and collaborate on housing development initiatives.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Grow South Dakota competitors and assessment
Company assessmentDirect peers
- Fahe: Federation of Appalachian community-based lenders delivering affordable housing finance, small business capital, and community development services across multiple states. Closely comparable multi-state CDFI model integrating housing lending, business lending, and community programming for rural underserved markets.
- Lakota Funds: Native CDFI serving the Pine Ridge Reservation in South Dakota, offering small business loans, credit-building, and financial education to an underserved population in the same state as GROW SD. Comparable mission-driven model combining community development, lending, and financial coaching for rural and tribal borrowers.
- Four Bands Community Fund: Native CDFI on the Cheyenne River Reservation providing small business loans, housing support, and financial education. Operates with the same integrated lending-plus-counseling model targeting rural and tribal communities in South Dakota and adjacent plains states.
- Inter-Lakes Community Action Partnership: Sister South Dakota community action agency serving a different set of counties but delivering a parallel mix of housing counseling, weatherization, emergency assistance, and community development programs. Operates under the same federal CSBG/CAA framework as GROW SD and is a coordinated referral partner.
- Coastal Enterprises Inc (CEI): Long-standing Maine-based CDFI combining small business lending, housing financing, and consulting for underserved rural communities. Directly comparable integrated model with similar mix of mortgage, business loans, and free counseling/TA services for rural populations.
- Akiptan: Native-led CDFI and active GROW SD partner providing capital and technical assistance to Native agricultural producers and rural entrepreneurs across South Dakota. Operates a closely parallel loan-plus-coaching model for an overlapping tribal and rural customer base in the same state.
Broad incumbents
- NeighborWorks America: National network of which GROW SD is a chartered member; supports 250+ affiliated nonprofits across the U.S. with affordable housing and community development programming. Provides capacity-building, grants, and shared services that GROW SD itself draws on.
- Enterprise Community Partners: National nonprofit focused on affordable housing and community development, with significant CDFI lending activity and program-related investments. Broader geographic reach and deeper capital base than GROW SD, but overlapping mission and overlapping product set in housing finance and community resilience.
Others
- LISC (Local Initiatives Support Corporation): Major national CDFI operating comprehensive affordable housing, economic development, and community development programs across urban and rural markets. Operates at significantly larger scale with overlapping programmatic categories (housing lending, small business support, community capacity building).
- South Dakota Housing Development Authority: State housing finance agency that is both a partner and ecosystem participant in South Dakota affordable housing, administering down payment assistance, rental assistance, and development financing. Functions partly as a referral source and co-funder for GROW SD's housing programs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Grow South Dakota social profiles
Digital presenceGrow South Dakota compliance and trust
Trust signalCompliance4 records
Grow South Dakota financial estimates
Financial estimateRevenue estimate
Valuation estimate
Grow South Dakota leadership team
Management profileNumber of profiles
Profiles9 records
Grow South Dakota subsidiaries and ownership
Company hierarchySubsidiaries4 records
Grow South Dakota funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Grow South Dakota M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Grow South Dakota
What does Grow South Dakota do?
Grow South Dakota is a statewide non-profit Community Development Financial Institution (CDFI) that provides direct mortgage loans, down payment assistance, and small business loans, along with HUD-approved homebuyer education, financial coaching, weatherization assistance, and rental housing. It operates as an SBA Microloan Program intermediary and hosts the Small Business Development Center to deliver no-cost business consulting across South Dakota.
Is Grow South Dakota a public or private company?
Grow South Dakota is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Grow South Dakota founded?
Grow South Dakota was founded in 1966. It employs 11 to 50 people.
Where is Grow South Dakota based?
Grow South Dakota is headquartered in Sisseton, United States, in the North America region.
How does Grow South Dakota make money?
Three revenue lines are on record. Loan Interest and Fees are the primary driver. The others are grant Funding and donations.
Who are Grow South Dakota's main competitors?
Direct peers on record are Fahe, Lakota Funds, Four Bands Community Fund, Inter-Lakes Community Action Partnership, Coastal Enterprises Inc (CEI) and Akiptan. Broad incumbents are NeighborWorks America and Enterprise Community Partners. Others are LISC (Local Initiatives Support Corporation) and South Dakota Housing Development Authority.
Does Grow South Dakota have an API?
No public API is recorded for Grow South Dakota.
What industry is Grow South Dakota in?
Grow South Dakota's product category is Community Development Financial Services. Its primary akta.pro industry code is BPAIANAE, Community Development & Neighborhood Revitalization (CDBG, Place-Based Initiatives). Its NAICS code is 611 and its SIC code is 8200.