Southeastern Electric Loans
Category: Agriculture, Southeastern
605 Sires Receives Loan from Southeastern Electric’s REED Fund
605 Sires, LLC has expanded their family owned full-service bull collection and donor facility and was recently awarded financing when Southeastern Electric’s loan fund, the REED Fund assisted with the expansion.
605 Sires opened in 2017 and is committed to assisting seedstock producers propagate genetics that will advance their operation, their breed and the entire industry. The new facility is in full compliance with the National Association of Animal Breeders and USDA which allows 605 Sires to ship their product both domestically and internationally.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Southeastern Electric’s REED Fund provides gap financing to help start and expand businesses, create jobs and help communities improve facilities, services and infrastructure.
Brad Schardin says that providing financing to 605 Sires is a great opportunity to assist with keeping a local business in the community. “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 82 percent of REED’s lending is established in communities of less than 5,000 people and 98 percent of REED-financed projects have local ownership. “One of Southeastern Electric’s core principles is Commitment to Community and the REED Fund is a good example of how we support local economic development,” says Schardin.
If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Southeastern Electric Cooperative at 605-648-3619 for an application or REED at 605 256-8015 for more information.