Great Lakes Private Lending for South Dakota investors
Great Lakes Private Lending is a smaller regional private money operator with Chicago and Wisconsin coverage.
South Dakota context
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore).
How Great Lakes Private Lending positions in South Dakota
South Dakota is well covered by national DSCR lenders, with Great Lakes Private Lending as one option. Where Great Lakes Private Lending differentiates: regional Midwest focus. Where it competes: rates 9.5 to 12.5 percent against peer programs.
City-level coverage in South Dakota
Great Lakes Private Lending provides DSCR coverage across South Dakota metros including Sioux Falls, Rapid City, and South Dakota. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Great Lakes Private Lending program terms apply uniformly across South Dakota metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | fix-and-flip, bridge, rental, private notes |
| Loan size | $50K - $2.0M |
| Rates | 9.5%-12.5% |
| Points | 1.5 - 4 |
| Max LTV | 70% of ARV |
| Term lengths | 6-18 months |
| Typical close time | 5-10 days typical |
| South Dakota property tax | 1.2% |
| South Dakota state income tax | None |
Great Lakes Private Lending strengths in South Dakota
- regional Midwest focus
- investor-friendly underwriting
Ideal borrower: Chicago or Wisconsin investor
FAQ
Likely; verify direct South Dakota coverage. Great Lakes Private Lending is based in Chicago, IL and operates in Chicago and Wisconsin.
Sioux Falls is the top investor market in South Dakota and is generally within Great Lakes Private Lending Chicago and Wisconsin footprint. Sioux Falls property tax follows the South Dakota state rate of 1.2 percent. Great Lakes Private Lending typically underwrites Sioux Falls acquisitions at standard rate sheets.
Yes. Rapid City ranks among the larger South Dakota investor metros and sees consistent DSCR loan volume from Great Lakes Private Lending. Submarket variation within Rapid City matters for property selection.
Great Lakes Private Lending applies the same rate sheet across South Dakota metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Sioux Falls, Rapid City, and South Dakota all qualify for the same Great Lakes Private Lending program.
Great Lakes Private Lending indicative DSCR rate range is 9.5 to 12.5 percent with 1.5 to 4 points.
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore). Great Lakes Private Lending follows standard business-purpose loan structures.
Great Lakes Private Lending funds fix-and-flip, bridge, rental, private notes in South Dakota.
South Dakota allows standard DSCR prepay structures; Great Lakes Private Lending typically uses 3-5 year step down.
Great Lakes Private Lending typical close: 5-10 days typical.
Bottom line
Great Lakes Private Lending in South Dakota works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Great Lakes Private Lending.