Capital Investment Fund Reaches Milestone Goal of $20M

Posted on December 14, 2017

Paula Jensen
Post Author

Comments Off on Capital Investment Fund Reaches Milestone Goal of $20M


Years ago, Beth Davis, President of Dakota Resources, set a goal of growing the Dakota Resources Capital Investment Fund to $20 million before her retirement. Less than two months shy of Beth’s retirement date, Dakota Resources achieved this goal thanks to a $1 million loan approved by Northwest Area Foundation in early November.  

“The loan brings us to $20,905,000,” says Beth. “I’m so proud of the board for embracing our vision for growth and the financial team for doing a great job of executing the plan.” 

For many rural communities, flexible, unrestricted loan capital is vital to supporting businesses, economic development, housing and entrepreneurial opportunities. Capital Investment Fund loans have been utilized in dozens of rural communities to help generate new opportunities, jobs and a better quality of life.  

In 2017, the Capital Investment Fund disbursed a total of $5,950,000 in loans with a net loan growth of $4,304,850. This is a 28% year-over-year increase.  

THE FOLLOWING IS THE LIST OF 2017 BORROWERS: 

  • Greater Huron Development Corporation: $1.5M 
  • Entrepreneur Fund: $2M 
  • Faulkton: $800K 
  • Aberdeen Development Corporation: $1M 
  • BASEC: $250K 
  • Lake Area Improvement Corp: $400K 

We thank the following Capital Investment Fund investors for providing Dakota Resources with the capital to help us empower people and enrich communities across rural South Dakota.  

  •  1st Financial Bank USA
  • AveraHealth 
  • Bank of the West
  • Black Hills Corporation
  • CDFI Fund (US Department of Treasury)
  • Citi Foundation
  • CorTrustBank 
  • DacotahBank 
  • First Bank & Trust
  • First Dakota National Bank
  • First National Bank in Pierre
  • First National Bank in Sioux Falls
  • First National Bank of Omaha
  • First InterstateBancSystem
  • First Premier Bank
  • Governor’s Office of Economic Development
  • Great Western Bank
  • Midcontinent Media, Inc.
  • Northwest Area Foundation
  • Opportunity Finance Network
  • Sanford Health
  • SDN Communications
  • Sioux Falls Development Foundation
  • Target National Bank
  • US Bank
  • Wells Fargo CDC
  • Xcel Energy



Comments are closed.


Updates @ Dakota Resources

We grant permission to any development organization to repost and/or reuse any article contained in our blog for educational and marketing purposes.

 

Dakota Resources Invites Rural Changemakers to Annual Empower Event
Dakota Resources, a rural community and economic development organization based in Renner, South Dakota, is hosting a weekend of learning, connecting and inspiration for...
A labor of love.
Waldner Farms in Webster is a small locally owned business that offers fresh, garden-grown produce to an increasing number of people in the Webster...
Return to Rural
When it comes to local rural and economic development, providing young adults with reasons to live and work in South Dakota is a priority....
WordPress Image Lightbox Plugin