Medical Facilities in Rural South Dakota Receive Financing for Renovations
25 Apr 2023
Throughout the years, facilities providing medical care across rural South Dakota and western Minnesota have received financial help from the REED Fund for important projects and upgrades. Whether it be a medical clinic or an assisted living facility, the REED Fund continues to assist these entities that are of vital importance to the surrounding communities.
The REED Fund works with other local lenders to help finance various economic development projects in the area for medical clinics, senior centers, housing, educational facilities, non-profits, and more. Contributing to improving the quality of local health care is one way the REED Fund’s goal to make a difference in the region can be achieved. By assisting nearby health care facilities, the REED Fund is helping to maintain healthy and happy communities.
Health Care Center Success Stories
Assisted Living Facilities
One recent project that the REED Fund helped finance was renovations on the Wakonda Heritage Manor assisted living facility. This senior living center offers assisted living, long-term skilled nursing care, and independent living. Through the assisted living program, residents receive hands-on support for daily tasks including meal prep, bathing, taking prescribed medications, and more.
The funds went toward added space for the entryway, resident lounge, and administrative office. They also contributed to a networked computer system. More recently in 2022, the REED Fund contributed to the funding of a project for another assisted living facility, Cedar Heart Homes in Franklin, MN.
Horizon Health Care Inc.
Other health care facilities have also benefited from the REED Fund. One example of this is when Horizon Health Care, Inc. (Horizon) received low-interest loans with help from the REED Fund. The Horizon clinic in Yankton, SD—The Yankton Community Health Center and Dental Services—not only provides medical and dental services, but it also offers behavioral health services for local individuals and families.
The clinic received funds to help with its relocation to 920 Broadway Ave and expansion. August 2020 marked the grand opening and locals were welcomed into the new 12,000-square-foot facility.
In 2022, the Reed Fund closed a loan for another Horizon Health Care facility, this one located in Plankinton, SD. A remodel and expansion of the health care center were completed.
The REED Fund also helps finance emergency room and hospital projects throughout South Dakota and western Minnesota. In 2022, the REED Fund contributed to the funding of a project for Philip Health Services. This health care center in the very rural Philip, SD offers a few types of medical care including but not limited to hospital and emergency room services.
Wakonda, Franklin, Yankton, Plankinton, and Philip are only a handful of cities that the REED Fund has serviced. View more REED Fund service areas here.
The REED Fund Helps Build Healthy Communities
The REED Fund continues to assist communities with creating a healthy future for their residents. The team is committed to helping fund various economic development projects for assisted living facilities, medical clinics, and hospitals. Through lending a hand to these health care centers, the REED Fund seeks to fulfill its mission to promote growth and help provide financing to make a positive impact in the region. Overall, the REED Fund is focused on enhancing the quality of life for residents of rural South Dakota and western Minnesota and has made great strides to meet this goal.
These are just a few success stories from funding recipients in the medical industry. View more health care facilities that benefited from REED Fund assistance here.