Tag: Capital Investment Fund
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Total Investment To Date: $1,050,000 Loans
$91,450 in Sponsorships & Grants
Working together is always better than working alone.
This fact is especially true for rural communities who often need to pool their people and resources together to make things happen. Dacotah Bank was one of the first partners to invest in the Dakota Resources Capital Investment Fund, and that longstanding relationship is a testament to the importance of bringing strong rural advocates together.
“When we take a look at our missions, we certainly align with Dakota Resources,” says Brad Moore, Dacotah Bank Regional President. “When we invest in them, that investment comes right back to us. All of the projects being funded through the Capital Investment Fund have added to the economic well-being of our rural communities.”
Because Brad is also a Dakota Resources board member, he provides a unique perspective … Read More »
After nearly 20 years of serving rural South Dakota with low-interest economic and community development loans, the Dakota Resources Capital Investment Fund is taking its first step toward a national expansion.
“There is a big need for rural capital in other markets,” explains Beth Davis, President of Dakota Resources. “Very few organizations do what we do as far as providing unrestricted, low interest loans to help rural economic development corporations improve their communities.”
The first Capital Investment Fund loan outside South Dakota was for $2 million to the Entrepreneur Fund based out of Duluth, Minnesota. The first $1 million was allocated in June and is being used to support small businesses and entrepreneurs across northeastern Minnesota and northwestern Wisconsin. The Entrepreneur Fund and Dakota Resources share a common goal of developing rural communities.
“Dakota Resources and the Entrepreneur Fund have a shared … Read More »
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 … Read More »
“I’ve been working with financial people for over 25 years and the staff at Dakota Resources is absolutely top notch,” explains Barry Cranston, Executive Vice President of the Greater Huron Development Corporation. “They’re extremely knowledgeable and easy to work with. They bend over backwards to make things happen.”
Dakota Resources works hard to make good things happen for our rural communities and it’s rewarding to be recognized. While we love a good compliment, we also love a good success story—and we’ve got several from the Greater Huron Development Corporation. The good folks in Huron have been with us almost from the beginning and we are proud to be a part of the positive progress happening in the area.
Over the years, Dakota Resources has provided Capital Investment Funds to assist the Huron community with a variety of projects, including:
The development of a residential neighborhood on Broadland Creek Golf … Read More »
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 »