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Prairieland EDC is a private, non-profit corporation organized in 1983 to deliver the U.S. SBA 504 program. Today, Prairieland EDC is a SBA 504 Premier Certified Lender. As a non-traditional lender for over twenty years in the region, Prairieland EDC has created a diverse portfolio of more than 350 loans for about $99 million. Prairieland provides loans to small businesses in the entire State of Minnesota, the Iowa counties of Dickinson, Lyon, and Osceola, and the South Dakota counties of Brookings, Lincoln, Minnehaha, Grant, Moody, and Deuel. The firm makes loans to assist business with stimulated growth, improving community services, expanding ownership opportunities, increasing employment opportunities, promoting the community welfare, and increasing the local tax base. In order to qualify for the 504 program, the tangible net worth of a small business must be less than $15 million and the after-tax net profit must be $5 million or less, on average, for the prior two years.
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