CIF Funding Helps Cover BASEC Needs
In a rural community, a lack of available housing can be a deal breaker.
“When potential teachers, daycare providers or business owners turn down jobs because they can’t find a suitable place to live in town, you have a problem,” explains Margot Gillette, Executive Director of Beadle and Spink Enterprise Community (BASEC). “BASEC is working hard to ensure the communities we serve have quality housing options. Then the dominoes fall and those communities become instantly more desirable.”
Beadle and Spink Enterprise Community (BASEC) serves seven communities across rural Beadle and Spink counties—an area that spans 1,000 square miles. The organization is dedicated to helping these rural communities help themselves through economic and community development efforts. Having access to flexible, unrestricted loan capital is vital to the success of these efforts, which is why BASEC utilizes the Dakota Resources Capital Investment Fund.
“Ten years ago, BASEC borrowed $500,000 from the Capital Investment Fund and used it for all kinds of projects,” explains Margot. “Last year we borrowed another $500,000 and drew our first $250,000 this spring. The beauty of the Capital Investment Fund is that we can use it for virtually anything we want.”