Tag: Jay Headley
We look forward to keeping you up-to-date with newsletters, resources and other leadership development materials. Check back often and help us spread the word by sharing these articles with your friends on Facebook, LinkedIn or Twitter!
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 »
Renner, SD – Dakota Resources has been awarded a Rural Community Development Initiative (RCDI) grant in the amount of $214,090 from USDA Rural Development.
This 3-year program will provide financial and technical assistance to the economic development professional staff and local leadership teams from twelve private nonprofit economic development organizations and low-income rural communities in South Dakota, namely: 1) Centerville Development Corporation; 2) De Smet Development Corporation; 3) Eureka Community Development Company; 4) Faulkton Area Development Corporation; 5) Southern Hills Economic Development Corporation; 6) Lemmon Housing & Redevelopment Commission; 7) Grant County Development Corporation; 8) On Hand Development Corporation; 9) Grow Spink, Inc.; 10) Wagner Area Growth, Inc. (Strikeforce Area); 11) Wall Economic Development Corporation; and 12) Webster Area Development Corporation.
USDA makes grants available under the Rural Community … Read More »
First National Bank has provided a $2 million Equity-Equivalent Investment to the Dakota Resources Capital Investment Fund, announced Jeff Jones, Market President, First National Bank.
The $2 million investment, which includes the renewal of an existing $700,000 Equity-Equivalent Investment from the bank plus an additional $1.3 million, reflects First National Bank’s commitment to building strong local economies in the South Dakota rural market.
The investment will be used as loan funds to support businesses, affordable housing and other community development projects in the rural South Dakota counties of Yankton, Bon Homme, Beadle, Davison, Sanborn and Hanson through Dakota Resources Capital Investment Fund loans to development organizations serving those markets.
“At First National Bank, we believe that a successful community is one that is home to local businesses of all sizes and types that produce a variety of goods and services. That’s why we … Read More »