Main Street Deadwood Shop Approved for MicroLOAN
Tuesday, May 12, 2015
DEADWOOD, S.D. – Prairie Harvest Mercantile, Inc., DBA Miss Kitty’s Mercantile, a homegrown soap and lotion shop based in Deadwood, S.D., has been approved for a MicroLOAN by the South Dakota Development Corporation (SDDC). The loan will be used to purchase the land and building the company is currently leasing, located at 649 Main St. in Deadwood.
“Small businesses like Prairie Harvest Mercantile are vital to our state’s economy,” said Commissioner Pat Costello, Governor’s Office of Economic Development (GOED). “Our office has a variety of finance programs that offer low or competitive interest rates perfect for small businesses. If you’re looking for financing, I encourage you to give our office a chance.”
"Our MicroLOAN and SBA 504 loan programs are ideal for small businesses and our partner financial institutions," said Robert Fouberg, SDDC chairman. "We provide working capital, equipment and real estate financing, tools with which many small businesses need some assistance. In addition, reasonable, fixed, long-term interest rates allow for greater operational flexibility and make more capital available to grow the business and add jobs throughout South Dakota."
“The MicroLOAN provided us with a portion of our financing at a lower interest rate and shorter term, which was exactly what we were looking for in the purchase of our building from the Miss Kitty’s Mercantile store in Deadwood,” said Kimberli Fehr, store owner. “We are very excited to be able to partner with the SDDC for the continued success of our store.”
Prairie Harvest Mercantile began in 2005 producing high quality soaps and lotions, using a locally produced commodity, the buffalo tallow. The company has experienced steady growth since that time, in the wholesale and online retail market. In 2011, Prairie Harvest Mercantile opened a gift shop in Deadwood, S.D., offering products by South Dakota artists and unique western gift items in addition to the buffalo tallow soaps and lotions. The move to this new location, named Miss Kitty’s Mercantile, in the heart of retail on Deadwood Main Street, will allow the company to continue to grow.
For more information about Prairie Harvest Mercantile, visit its website at www.theprairieharvestmercantile.com
or look for their products in area businesses, such as Wall Drug, Mount Rushmore and Prairie Edge.
May 4-8 was recognized as National Small Business Week
. The Governor’s Office of Economic Development has a variety loan and grant programs that can benefit small businesses in South Dakota. Whether it’s an expansion or equipment upgrades, visit www.sdreadytowork.com/finance
to find a financing program to fit your company’s needs.