Lake Region Electric Loans
Roslyn, SD 57261
Category: Business, Lake Region
Northside Properties LLC Receives Loan from Lake Region Electric’s REED Fund
Northside Properties LLC was recently awarded financing when Lake Region Electric issued a Rural Electric Economic Development, or REED, loan to Northside Properties LLC for a building for retail businesses in Roslyn, SD.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Lake Region Electric provides gap financing through REED to help a business start or expand, create jobs and help communities improve facilities, services and infrastructure.
Tim McIntyre says that providing funding to Northside Properties 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 81 percent of REED’s lending is established in communities of less than 4,000 people and 98 percent of REED-financed projects have local ownership.
“One of Lake Region Electric’s core principles is Commitment to Community and the REED Fund is a good example of how we support local economic development,” says McIntyre.
If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Lake Region Electric Association at (605) 345-3379 for an application or REED at (605) 256-8015 for more information.