At Dakota Resources, we want to stimulate Economic Development (job creation and business activity) in your community. We do that through a continuum of strategies that relate to business:
All four of those strategies need funding — and Dakota Resources makes flexible, reasonably priced capital available to Revolving Loan Funds and Economic Development Corporations who finance local development projects.
The Capital Investment Fund loans are easily accessible, reasonably priced and, while they are interest-bearing, there is no principal repayment until maturity. Dakota Resources loans are also flexible, which means there are no job creation requirements and no limits or restrictions on the kinds of projects and businesses that can be financed. These funds could be used for micro, business or community loans, leasehold property or industrial park development, or other financial products. Please keep in mind that Dakota Resources underwrites the organization — not the projects to be funded.
To qualify, Economic Development Corporations and Revolving Loan Funds (including start-ups) must have a mission consistent with Dakota Resources’ mission, sound management and governance, an adequate capital structure and a need for loan capital.
To stimulate economic investment in low-income communities, Dakotas America LLC, a Community Development Entity (CDE), has been awarded New Markets Tax Credit (NMTC) allocations by the U.S. Department of Treasury CDFI Fund. Dakotas America LLC assigns New Markets Tax Credit allocations for qualified investments in qualifying projects located in rural, highly distressed low-income communities.
Dakotas America LLC, which is spearheaded by South Dakota Rural Enterprise and the North Dakota Rural Development Finance Corporation, supports and enhances economic development in both South Dakota and North Dakota.
Dakotas America LLC was created to present a unique value proposition — a community sponsorship and impact scenario that allows Dakotas America LLC to competitively stand out among others CDEs. Dakotas America LLC is the only CDE based in the Dakotas, a region that previously had never received allocations. For more information please visit the Dakotas America website by clicking HERE.
If your development organization is looking for hands-on, practical skills building for board members, staff and volunteers, and community leaders that are interested in business development lending, Dakota Resources can help. Our experienced credit officer works one-on-one to provide technical assistance on risk management, policies and procedures and all aspects of deal structuring. By focusing on the lending process, community economic development and board responsibilities, this concentrated learning experience will have immediate practical applications in your community. This hands-on consultation is designed to save time and increase effectiveness.
Economic development is not the sole responsibility of the economic developer. It is a community responsibility. Dakota Resources works with communities to create environments that support and nurture entrepreneurs and people engaged in rural businesses through Dakota Rising, a program that mentors aspiring entrepreneurs.
Through Dakota Rising, we partner with local community groups (sites) to develop a system of support for entrepreneurial development by introducing tools and strategies for:
- Building community support for business retention and expansion.
- Connecting the business community to a broad range of economic resources and technical assistance opportunities.
- Bringing the Dakota Rising Entrepreneur Fellowship grant opportunity to your community’s entrepreneurs.
The Dakota Rising Entrepreneur Fellowship drives the Dakota Rising system. A Dakota Rising fellow makes a three-year commitment and receives $10,000 for professional and business development. The greatest value of the fellowship is the peer support available from other fellows and mentors.