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Dakota Resources received a $500,000 equity equivalent investment (EQ2) from Wells Fargo for the organization’s Capital Investment Fund. The fund was designed to build capacity for rural economic development corporations and revolving loan funds that finance local development projects in South Dakota and throughout the United States.
As a certified Community Development Financial Institution by the United States Department of Treasury, Dakota Resources is dedicated to delivering responsible, affordable lending to underserved populations and communities.
Proceeds from the Capital Investment Fund can be used as flexible capital or matching funds and can be blended with other financial sources. “We offer a straightforward application and underwriting process that provides access to flexible capital, with no requirements for job creation or restrictions on the end user’s type of projects financed,” said Jay Headley, Vice President of Finance at Dakota Resources.
“Our investment allows for Dakota … Read More »