Community LoansTown 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 to install new sidewalks, curb and gutter on the Main Street of Ward for the safety of residents and customers.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Sioux Valley Energy provides gap financing from REED to help businesses startup or expand, create jobs and help communities improve facilities, services and infrastructure.
Tim McCarthy, Sioux Valley Energy CEO, says that providing funding to the Town of Ward is a great opportunity to positively impact the lives of many. “In today’s economy, employment and economic development continues to be challenging, so being able to assist through the REED Fund is very gratifying for us, knowing we are making a difference in our small communities and rural areas.”
Approximately 88 percent of REED’s lending is established in communities of less than 4,000 people and 95 percent of REED-financed projects have local ownership.