Lake Region Electric LoansTractors and Trucks, LLC
Category: Lake Region, Cooperatives, Business, Agriculture
WEBSTER, SD, September, 2016 – Lake Region Electric Association’s Rural Electric Economic Development (REED) Fund was recently utilized to help support local agriculture. It is exciting when a need exists in a community and a local business owner can raise the capital and meet the need. That ability is what makes rural communities thrive instead of just survive and Don Wolter, owner of Tractors & Trucks, LLC of Webster, SD is doing just that in Webster. The REED Fund and a local bank recently collaborated to finance a new facility for Don’s business, Tractors and Trucks, LLC.
Don previously had a small business fixing ag equipment but with limited space and only one other employee, he was not able to meet the need in the Webster area. Now, he has expanded his business from repairs to also buying and selling ag equipment for local farmers using a combination of online auctions and an ag related business network. Don provides a one-stop business for buying, selling, fixing and trading ag related equipment and trucks and tire sales.
Don is excited to expand in the Webster area. He says he is simply filling a gap by using skills he already had. His new building is 19,200 square feet and is located on 4 acres on Highway 12 west of Webster.
Lake Region Electric General Manager Tim McIntyre said. “It is exciting to help grow a local business that’s based in agriculture which makes our community stronger.”
The REED Fund, a revolving loan fund governed by Lake Region Electric and 21 other electric cooperatives in eastern South Dakota and western Minnesota, is used to finance projects that promote economic development and enhance the lives of people in rural communities. Lake Region Electric Association, which serves Day and Marshall Counties and the far western portion of Roberts County, is headquartered in Webster, SD.