Whetstone Valley Electric Loans
Milbank, SD 57252
Category: Whetstone Valley, Business
Whetstone Creek Golf Course Receives REED Fund Loan
The Whetstone Creek Golf Course was recently awarded financing on 7/29/2020 when Whetstone Valley Electric issued a Rural Electric Economic Development, or REED, loan to the golf course to install an irrigation system and make other improvements to the course in Milbank, SD.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Whetstone Valley Electric provides gap financing from REED to help business start and expand, create jobs and help communities improve facilities, services and infrastructure.
Dave Page , Whetstone Valley Electric Manager, says that providing funding to Whetstone Creek is a great opportunity to assist the golf course to allow customers to have a place for recreation and be outside to practice social distancing. “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 83 percent of REED’s lending is established in communities of less than 5,000 people and 99 percent of REED-financed projects have local ownership.
“One of Whetstone Electric’s core principles is Commitment to Community and the REED Fund is a good example of how we support local economic development,” says Page.
If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Whetstone Valley Electric at 605-432-5331 for an application or REED at (605) 256-8015 for more information.