Rapid City Business Resources for COVID-19

CARES Funding: Round Two

The State of South Dakota opened a second round of Small Business Grant Programs intended to reimburse eligible entities for business losses incurred between September - November of 2020. This includes applicants who applied in the first round as well as new applicants. Applications were accepted Dec. 14-20, 2020.

Child Care Loan & Grant Program

The Elevate Rapid City Child Care Loan and Grant Program assisted 2 child care providers that experienced economic challenges as a result of COVID-19. These short-term, interest-free working capital loans were to assist child care providers with working capital during the fall semester when schools reopened and parents returned to work. Loans supported two child care providers and totaled $30,000.

Road to Recovery Packet

Download your free Road to Recovery Packet from Elevate Rapid City. Inside you'll find resources and information to help your business open under the current Rapid City resolution during COVID-19.

Emergency Bridge Loan Program

The Elevate Rapid City Emergency Bridge Loan Program assisted 18 small business owners located in the Rapid City area that experienced economic damage as a result of COVID-19.  Loans were awarded up to $15,000 per eligible business and totaled $219,500. Learn more.


On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES Act), in response to the economic effects of the COVID-19 virus. This act implements Economic Disaster Relief Loans and Paycheck Proection programs.

Click here to see a great comparison of these two programs.

Paycheck Protection Programs Loan Forgiveness Application

Paycheck Protection Program Flexibility Act

The newly passed Paycheck Protection Program (PPP) Flexibility Act recognizes the gradual recovery for businesses over the coming months and reflects the flexibility that is needed to safely and successfully get back to normal. Click here to view a comparison of the current and proposed PPP restrictions from the National Restaurant Association.

How does this impact your PPP loan?

  • "Covered Period" is now 24 weeks (originally 8 weeks), or until December 31, 2020.
  • The required payroll ratio is lowered to 60% (from 75%).
  • Up to 40% allowed for utilities, mortgage interest, etc. (from 25%).
  • Removes forgiveness reduction for businesses that were unable to rehire employees or hire new employees to return to pre-disaster employment levels.
  • Extends the loan term to 5 years at 1%.
  • Borrowers have 10 months from the end of the covered period to submit a forgiveness application.
  • Owners can receive PPP and are still allowed to defer payroll taxes.

What about your workers who are affected or need leave because of COVID-19? 

There is assistance in the form of refundable tax credits to provide paid sick and family leave for corona-virus related employment interruptions. The payroll tax credits would cover wages paid to employees while they take time off for sick leave and family leave programs, for up to 10 days. 

The sick leave credit would be for wages up to $511/day or $200/day if the sick leave is to care for a family member or child following the child’s school closing. 

The family leave credit would be for wages up to $200/day ($10,000/maximum) while the employee is receiving paid family leave.  The credit could be claimed each quarter.  The credit would not be available for employers receiving a credit for paid family and medical leave under the Tax Cut and Jobs Act.

Rapid City to Go

Is your business offering curbside/carry-out/delivery services in response to social distancing precautions of the coronavirus? Be sure to join our Facebook Group and share! We created this group to help you share the message and encourage people to continue to support Rapid City businesses while also maintaining Social Distance. Need help with ideas of how your business can adapt? Contact us!