Harpoon Capital for South Dakota investors
Harpoon Capital is a broker-only private money lender with no stated minimum DSCR — it will consider deals below 0.75 DSCR. Minimum credit score is 620, with loan sizes from $50,000 to $3,500,000 and maximum 85% LTV. The company does not publish rate or state-coverage figures in the sources reviewed.
South Dakota context
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore).
How Harpoon Capital positions in South Dakota
For South Dakota specifically, Harpoon Capital fits investors who match the private money approach. The medium cash flow profile of South Dakota aggregate makes it workable for Harpoon Capital.
City-level coverage in South Dakota
Harpoon Capital 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. Harpoon Capital program terms apply uniformly across South Dakota metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | rental DSCR |
| Loan size | $50K - $3.5M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 85% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| South Dakota property tax | 1.2% |
| South Dakota state income tax | None |
Harpoon Capital strengths in South Dakota
- No minimum DSCR requirement — approves deals below 0.75
- Loan sizes from $50,000 to $3,500,000
- 620 minimum credit score
- Broker-only origination
Ideal borrower: Investor with a cash-flow-negative property (DSCR below 0.75) seeking a broker-originated private money lender with no DSCR floor.
FAQ
Likely; verify direct South Dakota coverage. Harpoon Capital is based in an undisclosed location and operates in states not publicly disclosed.
Sioux Falls is the top investor market in South Dakota and is generally within Harpoon Capital states not publicly disclosed footprint. Sioux Falls property tax follows the South Dakota state rate of 1.2 percent. Harpoon Capital 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 Harpoon Capital. Submarket variation within Rapid City matters for property selection.
Harpoon Capital 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 Harpoon Capital program.
Harpoon Capital does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore). Harpoon Capital follows standard business-purpose loan structures.
Harpoon Capital funds rental DSCR in South Dakota.
South Dakota allows standard DSCR prepay structures; Harpoon Capital typically uses 3-5 year step down.
Harpoon Capital typical close: Not publicly published.
Bottom line
Harpoon Capital 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 Harpoon Capital.