Community Loans

Community facilities and services are necessary for quality of life and sustainable development. REED Fund provides a wide range of financing for what we call community projects. Loan applicants include, but are not limited to, civic and philanthropic organizations, educational institutions, local governments and special purpose districts. The following success stories illustrate the broad spectrum of different types of projects we have assisted, including education, public safety, emergency services, recreation, arts, community infrastructure, facilities and equipment.

REED also finances nonprofit development organizations for activities such as industrial parks, leasehold facilities and multi-family housing. Check the business and multi-family housing links for more information.

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.

Some loans for community projects are able to qualify for a loan through USDA’s Rural Economic Development Loan and Grant (REDL&G) program. These projects can compete nationally to receive a 0% loan for a 10 year term.

Project Directory

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Yankton Rural Fire District

Category:  Bon Homme, Community, Cooperatives

The Yankton Rural Fire Association is a membership organization that owns and operates fire protection equipment. It is staffed by the City of Yankton Fire Department to serve rural and residential residents outside the city of Yankton, SD. The fire association obtained a loan to construct an addition to th...

City of Emery

Category:  Central, Community, Cooperatives

The Little Learner’s Preschool and Daycare will be relocating this spring with the help of a Rural Economic Electric Development (REED) loan through Central Electric Cooperative.  Central Electric was one of two lenders to the preschool and daycare center. The preschool and daycare are currently housed in property owned by th...

Opera House Group

Category:  Central, Community, Cooperatives

Once slated for demolition, the 1905 Opera House now stands proudly on the corner of Dakota and First Street in Wessington Springs, population 974. Financing was used for heating and cooling systems to permit year round use of the facility. The opera house is the only stage in town an...

City of Lake Andes

Category:  Charles Mix, Community, Cooperatives

Charles Mix Electric facilitated obtaining a USDA 0% interest loan for the City of Lake Andes, population 879. The loan assisted with replacing the city’s water lines.

City of Platte, SD

Category:  Charles Mix, Community, Cooperatives

The City of Platte, population 1,136, completely remodeled a 1960 community center and added a Library that effectively doubled the size of the facility. The remodeled center will also include a multi-purpose room, kitchen and dining room. Also housed in the facility will be an updated wellness center and Cit...

Our Home, Inc.

Category:  Dakota Energy, Community, Cooperatives

Our Home is a non-profit organization that provides housing and educational services to at-risk youth. The $100,000 loan was used to aid in construction of a new dormitory at the facility near Huron, SD, population 12,592.

Delmont Fire District

Category:  Douglas, Community, Cooperatives

The Delmont Fire District used a loan from Douglas Electric to help with the costs of a new fire hall. The previous fire hall was destroyed in a May 2015 tornado, and the hall was recently rebuilt and completed.  

Building Infrastructure for a Thriving Community

Category:  FEM Electric, Community

Public gathering places play a vital role in the social life of a community. Community centers help cultivate relationships and a sense of belonging. Publicly owned recreational amenities like parks and gymnasiums take it a step further, enabling residents to reap the additional mind and body benefits of getting physical. Unfortunately...

City of Lake Norden

Category:  H-D Electric, Community, Cooperatives

The City of Lake Norden used REED financing for water treatment plant expansion and improvements including installing a new gravity filter, modifications to electric and control systems and building modifications. The end result will be a more consistent flow of better quality water and overall productivity improvements in the communit...

Lake Region Golf Club

Category:  H-D Electric, Community, Cooperatives

Lake Region Golf Club is a public golf course near Lake Poinsett that has received REED financing three times. The first loan helped finance the construction of a new clubhouse and renovation of storage facilities (1997). The second loan was used to expand the course from 9-holes, built in th...

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...

Tyler Community Golf Club

Category:  Lyon-Lincoln, Community, Cooperatives

The Tyler Community Golf Club is an 18-hole golf course and community/club house facility near Tyler, MN, population 1,143. REED financing was used to construct an addition to the meeting area to allow seating for up to 300 people. The facility will be used for public meetings, special events an...

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...

Beadle & Spink Enterprise Community, Inc.

Category:  Northern, Community, Cooperatives

Beadle & Spink Enterprise Community, Inc. (BASEC) established its loan fund in 1994 and makes loans to individuals, businesses and communities while also providing needed financial and technical assistance services to parts of Beadle and Spink counties. BASEC received a helping hand from Northern Electric Cooperative when a Rural Electric Economi...

Capital University Center

Category:  Oahe, Community, Cooperatives

Capital University Center, located in Pierre, SD, population, 13,646, is a South Dakota Board of Regents institution that delivers higher education opportunities to a seventeen county area in Central South Dakota through the state’s public universities. The REED fund loan helped to finance construction of a facility to meet th...

City of Franklin, MN

Category:  Renville-Sibley, Community, Cooperatives

The $200,000 0% loan from Renville-Sibley Cooperative loan enabled the city of Franklin, population 510, to complete a wastewater upgrade project by extending services to business and homes in the city.

RS Fiber Cooperative

Category:  Renville-Sibley, Community, Cooperatives

Renville-Sibley recently closed a $1.5 million loan from the REED Fund to RS Fiber Cooperative of Gaylord, Minn. RS Fiber is a newly-formed cooperative created through a community-driven effort to bring a high-speed fiber-optic connection to everyone in the project area and provide low-cost, reliable high-speed internet, crystal clear vide...

Jasper Fire Department

Category:  Sioux Valley Energy, Community

No description available.

Rock County Opportunities

Category:  Sioux Valley Energy, Community, Cooperatives

Rock County Opportunities (RCO) received financing from Sioux Valley Energy  to assist with constructing an addition to its facility in Luverne, MN. The addition will provide additional space for work opportunities for people with disabilities and related conditions. RCO provides training and job coaching to its clients and contracts wit...

Town of Ward

Category:  Sioux Valley Energy, Community, Cooperatives

The Town of Ward Receives $25,000 Loan from Sioux Valley Energy’s REED Fund The Town of Ward was recently given a helpful hand on August 21, 2013 when Sioux Valley Energy issued a Rural Electric Economic Development, or REED, loan to The Town of Ward.  The funds will be used t...

City of Tintah Fire Department

Category:  Traverse Electric, Community, Cooperatives

The City of Tintah, MN (population 63) and the Tintah Fire Department have upgraded their equipment over the last few years to better serve are small towns and townships. By doing so, they outgrew their fire hall. A new fire hall was constructed using a combination of REED Financing an...

Rosholt School District

Category:  Traverse Electric, Community, Cooperatives

The School District, located in Rosholt SD, population 423, has accessed financing from Traverse Electric three times, all through the USDA REDL&G program. The first loan helped to construct classrooms for grades 9-12, a library and computer laboratory connected to the existing K-8 school building. The library and lab ar...

Union County Historical Society (UCHS)

Category:  Union County Electric, Community, Cooperatives

The Historical Society, a volunteer organization in Elk Point, SD, population 1,963, received financing from Union County Electric Cooperative using the USDA REDL&G program, to purchase a 6.7 acre site with a house, two barns and an historic brick kiln for use as a museum, interpretive center and visitor’s center...