Tag: rural development finance
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Ask Jay Headley what Dakota Resources’ biggest accomplishments were for 2016, and he will rattle off a list that includes providing capital to assist with rural building projects, new housing developments, land purchases, the opening of new businesses and collaborative partnerships.
However, one of his favorite highlights was finalized at the end of the year and involves a partnership between Dakota Resources and US Department of Agriculture Rural Development (USDA). USDA named Dakota Resources as a “re-lender” of $10 million in federal funds to help spur economic development opportunities and reduce rural poverty in South Dakota communities. The funds will be used to improve essential facilities in low income rural areas, such as health care facilities, child care centers, town halls, assisted living centers, transitional housing, street improvements and educational facilities.
“Dakota Resources is only one of a handful of Community Development Fund Institutions … 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 »