Business Loans

REED Fund’s business loans support business growth and development and contribute to employment and business ownership opportunities. The loans benefit retail, service, tourism, manufacturing, and technology sectors. REED also finances nonprofit development organizations for activities such as industrial parks, leasehold facilities. Financing to nonprofit development corporations receive a reduced interest rate.

All borrowers are encouraged to integrate energy efficiency in facilities and construction. Purchase of electricity from a REED member cooperative is NOT required to receive financing. For more information, check out Eligibility and Application, for qualifications and to obtain an application.

Project Directory

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Dakota Butcher Expands Your Dinner Choices

Category:  Agriculture, Codington Clark Electric, Business, Featured

Local shop enhances quality and increases supply with new smokehouse. It’s amazing what can happen when a business is able to streamline all of its production under one roof. The work is more efficient, challenges that arise are resolved more quickly and it means a higher quality product for the customer...

Do-Mats

Category:  Agralite, Business, Cooperatives

REED member Agralite Electric Cooperative, is proud to be a part of the financing package to construct a new home for Do Mats Family Food. The grocery store has been a family business in Benson, Minnesota, population 3,240, for nearly 45 years. Do Mats’ CEO is Matthew Mattheisen, son o...

SDSU Growth Partnership: Fueling Economic Development

Category:  Sioux Valley Energy, Business, Featured

Universities are unique environments. They serve as fertile ground to test innovative ideas. They cultivate creativity and talent. With the right resources and collaborations, academia can provide fuel for economic growth. Community, business and university leaders in Brookings, South Dakota formed a collaboration in 2004 to help harness the power o...

The Infrastructure to Attract Industry

Category:  FEM Electric, Business

Industrial parks are a valuable recruitment tool. But acquiring a large property and establishing the requisite infrastructure to attract companies is a major undertaking, particularly for a rural area.   The people of Faulkton, South Dakota have long prioritized economic development. According to Trevor Cramer, economic development director for the Faulkton Are...

Aberdeen Development Corp, East Industrial Park

Category:  Northern, Business, Cooperatives

In 1994, the Aberdeen Development Corporation purchased 160 acres to expand its industrial park with assistance from Northern Electric, who provided access to a 0% loan from USDA’s REDL&G program. It was completed in 1995 and is currently home to four businesses including the offices of the Aberdeen Development Corporation...

Aberdeen Development Corp, Molded Fiberglass

Category:  Northern, Business, Cooperatives

The Aberdeen Development Corporation is a private non-profit corporation with the mission of primary job creation. Developing the industrial and back-office economic base of Aberdeen and the region is their business. REED provided financing to assist with construction of a 319,500 sq ft building to be leased to Molded Fibe...

Alliance Midstream

Category:  Agralite, Business, Cooperatives

Alliance Midstream receives loan through Agralite Electric Cooperative BENSON, Minn. — A critical, longtime propane delivery terminal at Benson will continue to operate thanks to a loan secured through Agralite Electric Cooperative. Alliance Midstream LLC, which was developed to keep the terminal operational, has received a $500,000 loan through Agralite Electri...

Armour Electric Motor Repair, Inc

Category:  Douglas, Business, Cooperatives

A loan from Douglas Electric assisted a new owner to purchase an existing business. The company provides general electrical and wiring services and rewinds motors.

AutoMaxx

Category:  Northern, Cooperatives, Business

REED Fund Turns ‘A Dream’ Into Reality AutoMaxx of Aberdeen Open For Business With room for more than 250 vehicles, the large car lot at AutoMaxx just east of Aberdeen is something co-owner Kelly Krausz has been dreaming about. “It was a dream,” Krausz said. “I thought I should do it now o...

Clear Lake Building Center

Category:  H-D Electric, Business, Cooperatives

Clear Lake Building and Rental Center is going through some exciting changes in 2016. The previous owners operated the business for 43 years and the business has been in the community for 50 years. The company's new owners, Daron and Dustin Kreger, are brothers who have worked at the busines...

Countryside Manufacturing

Category:  Bon Homme, Business, Cooperatives

Countryside Manufacturing makes etched wood clocks and mirrors for nationwide distribution through an established sales network. The project assisted with construction of a 48 X 70 addition to an existing building and purchase of computerized equipment for laser etching.

Dakota Butcher

Category:  Codington Clark Electric, Business, Cooperatives

Dakota Butcher, LLC is a locally-owned family business since 2009, originally based in Clark, SD.  They have recently expanded their operations with two additional locations in Watertown.  Not only is Dakota Butcher, LLC a full service meat locker that offers custom processing on beef, pork, lamb, buffalo and wild game...

Dakota Style, Inc.

Category:  Codington Clark Electric, Business, Cooperatives

Dakota Style began as a family business making kettle-style chips on a farm near Clark, SD (population 1,051) 29 years ago. It has grown into a national supplier of high quality salty snack foods with a product line featuring sunflower seeds (in shell and kernels) with innovative flavors, healthful option...

Franklin Industries

Category:  Renville-Sibley, Business, Cooperatives

The Cougar Cub Child Care and Franklin Community Center are opening their doors in Franklin, Minnesota with the help of a Rural Economic Electric Development (REED) loan through Renville-Sibley Cooperative Power Association.  Renville-Sibley Cooperative was one of three lenders to the daycare and community center. The project is the result of ...

Frederick Development Corporation Refueling Station

Category:  Northern, Business, Community

The Frederick Development Corporation started working on plans to build an unmanned refueling station along the highway to give drivers a spot to fill up in the 43-mile stretch between Aberdeen and Ellendale. The project was completed in January thanks to financing from the Northeast South Dakota Economic Development Corporatio...

Lake Area Improvement Corp

Category:  Sioux Valley Energy, Business, Cooperatives

Financing was used to construct the Heartland Technology Center in the Hueners Technology Park, Madison SD population 6,474. The Center has office space designed to meet the needs of business needing a high-tech setting and near nationally recognized Dakota State University to provide immediate access to some of the bes...

Little Motel on the Prairie

Category:  Kingsbury, Community, Business

“It’s salt of the earth people that come to visit De Smet. They can’t believe how it keeps its prairie ambiance,” says Cheney. “They think of it as a different world but people still come into town and can feel that friendliness as they walk up and down the street.” I...

MMY Group/Life Floor

Category:  Sioux Valley Energy, Business, Cooperatives

Life Floor is a manufacturer that produces soft flooring tiles that become more slip-resistant when wet while emulating the look of natural surfaces. REED funding was integral in attracting Life Floor to manufacture its tiles in Madison at Falcon Plastics’ facility. The facility will fuel Life Floor’s advancements in the consumer marke...

Miss Becky's

Category:  Renville-Sibley, Business, Cooperatives

A loan from the REED funds assisted the owner of the Smokey Hollow restaurant in Farifax, MN (population 1,235) to purchase a facility in Fairfax to expand her catering business and hold larger events. Longer range plans include food processing for resale at the same location.

Northern Geo, LLC

Category:  Agralite, Business, Cooperatives

Northern Geo was awarded financing when Agralite Electric issued a Rural Electric Economic Development, or REED, loan to Northern Geo for expansion of their heatpump manufacturing plant located in Appleton, MN.  Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Agralit...

Northern Star Subways, Inc.

Category:  Codington Clark Electric, Business, Cooperatives

REED financing assisted with remodeling existing Subway restaurants in Milbank, population 3,353, and Watertown, population 21,482. Upgraded equipment and new décor packages added to the customer friendly atmosphere in the restaurants. The firm also added two additional locations in Watertown.

Plagman's Grocery

Category:  Kingsbury, Business, Cooperatives

Plagman’s Food Center and Hardware are separate storefronts in a single building. Both business were in aging buildings on the town’s Main Street and were relocated to a new facility on the intersection of US Highways 81 and 14 in Arlington, SD (population 915) for better visibility. The new buildin...

Riverfront Broadcasting

Category:  Central, Business, Cooperatives

MITCHELL, SD, January 25, 2016 - Mitchell, S.D. – Central Electric Cooperative’s Rural Electric Economic Development (REED) Fund will help to spur economic development over the airwaves thanks to a recent economic development loan. The REED Fund recently closed a loan to Riverfront Broadcasting, LLC which has purchased two radi...

Rocky Ridge Hunting, Inc.

Category:  Oahe, Business, Tourism, Cooperatives

Rocky Ridge Hunting, Inc. used financing to construct a new sporting clay course and a steakhouse located one mile off of Highway 14 near Harrold, SD. During the off-season, Rocky Ridge facilities can be used for family reunions, corporate retreats and meetings.

Ron's Equipment Painting

Category:  Whetstone Valley, Business, Manufacturing, Manufacturing, Cooperatives

Ron’s Equipment Painting, based in Milbank SD population 3,536, constructed a larger facility to accommodate business expansion using REED financing. The company paints heavy equipment manufactured in Watertown, SD and also paints farm and other equipment. In addition to new paint booths and expanded work facilities, the business has ...

Sunset Adventures, Inc

Category:  Kingsbury, Business, Cooperatives

REED financing assisted construction of a 37-unit motel, including meeting rooms, indoor pool and exercise facilities. It provides accommodations in DeSmet SD, population 1,129, the town that claims Laura Ingalls Wilder as its favorite daughter.

The Bird's Nest, Inc.

Category:  Sioux Valley Energy, Business, Cooperatives

The Bird's Nest, Inc. is a hunting lodge and pheasant guide business located near Winfred, SD, population 52. The Bird's Nest offers a unique private get-away less than an hour away from Sioux Falls, SD. With over 1300 acres of hunting ground ranging from milo to sorghum to CRP, shelterbelts...

Tractors and Trucks, LLC

Category:  Lake Region, Cooperatives, Business, Agriculture

WEBSTER, SD, September, 2016 – Lake Region Electric Association’s Rural Electric Economic Development (REED) Fund was recently utilized to help support local agriculture. It is exciting when a need exists in a community and a local business owner can raise the capital and meet the need. That ability is wha...

Truss-Pro's

Category:  Lake Region, Business, Manufacturing, Cooperatives

In business since 1978, Truss Pro’s, a wholesale manufacturer of roof and floor trusses for sale to lumber yard dealers in a five-state area, has grown from a small three person shop into a major rural success story in Britton, SD, population 1,241. REED financing assisted with expansion including ...

Tulare Country Meats

Category:  Northern, Business, cooperatives

Tulare Country Meats is a retail and processing facility in Tulare, SD, population 207, that has done custom processing of domestic livestock and wild game and distributes its products through two retail locations, in Tulare and Huron, SD, employing 14 people. The owners recently sold the business to long tim...

Vos/Pluto Legal

Category:  Lyon-Lincoln, Business, Cooperatives

A REED loan assisted Pluto Legal’s move from a home base into an office facility. The company specializes in Estate Planning, Elder Law Planning, Wills, POS, HCD and Probate.

Watertown Development Company

Category:  Codington Clark Electric, Business, Cooperatives

The Watertown Development Company was the recipient of a zero-interest $300,000 loan awarded by Codington Clark Electric to apply towards the spec building that has been constructed at Pheasant Ridge Industrial Park. The WDC Board was presented with the check during their regular board meeting held on Wednesday. This is th...

Webster Home Center

Category:  Lake Region, Business, Cooperatives

The Webster Lumber & Home Center opened in August, 2008.  This business is a full scale lumber and home building supplies business for Webster and the surrounding area.  The REED Fund assisted with financing the construction of the building and purchasing inventory and fixtures to bring this needed business t...

Werkmeister Welding, LLC

Category:  Douglas, Business, Cooperatives

Werkmeister Welding is a family owned business in its third generation of family leadership located near Armour, SD population 699. It was founded in 1982 and is a leading manufacturer of high quality cattle feeding equipment. REED financing assisted in the construction of a new building. The company also purchase...