Business LoansCrosby Road Construction
Appleton, MN 56208
Category: Agralite, Business
REED Fund Helps Crosby Road Construction Expand
APPLETON, MN, SD – Crosby Road Construction will be expanding once again this spring with the help of a Rural Economic Electric Development (REED) loan through Agralite Electric Cooperative. Agralite was one of two lenders to the business to purchase more land for gravel mining in the Swift County area.
Crosby Road Construction, owned and operated by Galen Crosby, crushes and hauls gravel from Appleton, MN to townships and private customers in the Swift County area. The business was started in 1969 by Galen’s father and in 1998, Galen and his wife, Deborah, purchased the business. During those years Crosby Road Construction maintained township roads and supplied gravel to the area.
In 2012, the business expanded when they bought a crushing plant. Then in 2014 they added a wash plant for pea rock and washed sand which they market primarily to private customers and contractors for landscaping. During the winter months, the Crosby’s stay busy providing snow removal for two local townships. This spring the company has purchased additional land on which they will mine for gravel.
Agralite Electric Manager, Korey Johnson said, “The goal of the REED Fund is to spur economic development in our rural communities. This loan to Crosby Construction will help them expand and grow their business which is good for the economy and our surrounding area.”
About Agralite Electric Cooperative, Inc. and Rural Electric Economic Development Fund:
Agralite Electric is headquartered in Benson, Minnesota. Agralite serves more than 5,400 member-owners in west central Minnesota, including Swift County and portions of Stevens, Big Stone and Pope Counties. The REED Fund, a joint economic development fund managed by Agralite and 21 other electric cooperatives in South Dakota and Minnesota, is used to fund projects to promote economic development and enhance the lives of people in rural communities.