Agri-business
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Agri-business
Community Loans
Community facilities and services are necessary for quality of life and sustainable development. REED Fund provides a wide range of financing for what we call community projects. Loan applicants include, but are not limited to, civic and philanthropic organizations, educational institutions, local governments and special purpose districts. The following success stories illustrate the broad spectrum of different types of projects we have assisted, including education, public safety, emergency services, recreation, arts, community infrastructure, facilities and equipment.
REED also finances nonprofit development organizations for activities such as industrial parks, leasehold facilities and multi-family housing. Check the business and multi-family housing links for more information.
All borrowers are encouraged to integrate energy efficiency in facilities and construction. Purchase of electricity from a REED member cooperative is NOT required to receive financing. For more information, check out Eligibility and Application, for qualifications and to obtain an application.
Some loans for community projects are able to qualify for a loan through USDA’s Rural Economic Development Loan and Grant (REDL&G) program. These projects can compete nationally to receive a 0% loan for a 10 year term.
Beadle & Spink Enterprise Community, Inc.
Category: Northern, Community, Cooperatives
Beadle & Spink Enterprise Community, Inc. (BASEC) established its loan fund in 1994 and makes loans to individuals, businesses and communities while also providing needed financial and technical assistance services to parts of Beadle and Spink counties. BASEC received a helping hand from Northern Electric Cooperative when a Rural Electric Economic...
Building Infrastructure for a Thriving Community
Category: FEM Electric, Community
Public gathering places play a vital role in the social life of a community. Community centers help cultivate relationships and a sense of belonging. Publicly owned recreational amenities like parks and gymnasiums take it a step further, enabling residents to reap the additional mind and body benefits of getting physical.Unfortunately,...
Capital University Center
Category: Oahe, Community, Cooperatives
Capital University Center, located in Pierre, SD, population, 13,646, is a South Dakota Board of Regents institution that delivers higher education opportunities to a seventeen county area in Central South Dakota through the state’s public universities. The REED fund loan helped to finance construction of a facility to meet the...
City of Emery
Category: Central, Community, Cooperatives
The Little Learner’s Preschool and Daycare will be relocating this spring with the help of a Rural Economic Electric Development (REED) loan through Central Electric Cooperative. Central Electric was one of two lenders to the preschool and daycare center.The preschool and daycare are currently housed in property owned by the...
City of Franklin, MN
Category: Renville-Sibley, Community, Cooperatives
The $200,000 0% loan from Renville-Sibley Cooperative loan enabled the city of Franklin, population 510, to complete a wastewater upgrade project by extending services to business and homes in the city.
City of Lake Andes
Category: Charles Mix, Community, Cooperatives
Charles Mix Electric facilitated obtaining a USDA 0% interest loan for the City of Lake Andes, population 879. The loan assisted with replacing the city’s water lines.
City of Lake Norden
Category: H-D Electric, Community, Cooperatives
The City of Lake Norden used REED financing for water treatment plant expansion and improvements including installing a new gravity filter, modifications to electric and control systems and building modifications. The end result will be a more consistent flow of better quality water and overall productivity improvements in the community...
City of Platte, SD
Category: Charles Mix, Community, Cooperatives
The City of Platte, population 1,136, completely remodeled a 1960 community center and added a Library that effectively doubled the size of the facility. The remodeled center will also include a multi-purpose room, kitchen and dining room. Also housed in the facility will be an updated wellness center and City...
City of Tintah Fire Department
Category: Traverse Electric, Community, Cooperatives
The City of Tintah, MN (population 63) and the Tintah Fire Department have upgraded their equipment over the last few years to better serve are small towns and townships. By doing so, they outgrew their fire hall. A new fire hall was constructed using a combination of REED Financing and...
Delmont Fire District
Category: Douglas, Community, Cooperatives
The Delmont Fire District used a loan from Douglas Electric to help with the costs of a new fire hall. The previous fire hall was destroyed in a May 2015 tornado, and the hall was recently rebuilt and completed.
Faulk County Jail
Category: FEM Electric, Community
FEM Electric Association, Inc. (FEM), an electric distribution cooperative in Faulk, Edmunds and McPherson Counties of South Dakota, assisted with financing the Faulk County Jail expansion located in Faulkton, SD. A new 35-bed Jail and Sheriff’s Office, meeting minimum American Correctional Association standards was constructed adjacent to the existing Faulk...
Frederick Development Corporation Refueling Station
Category: Northern, Business, Community
Frederick Development Corp. receives $300,000 loan through Northern Electric Cooperative and the REED FundFREDERICK — The Frederick Development Corporation has constructed a unmanned refueling station in the northern Brown County community of Frederick thanks in part to loans from Northern Electric Cooperative’s Rural Electric Economic Development (REED) Fund, Northeast South...
Lake Region Golf Club
Category: H-D Electric, Community, Cooperatives
Lake Region Golf Club is a public golf course near Lake Poinsett that has received REED financing three times. The first loan helped finance the construction of a new clubhouse and renovation of storage facilities (1997). The second loan was used to expand the course from 9-holes, built in the...
Lesterville Fire and Rescue
Category: Community, Bon Homme
Lesterville Fire and Rescue received loan from Bon Homme Yankton Electric’s REED Fund Lesterville Fire and Rescue was recently awarded financing when Bon Homme Yankton Electric issued a Rural Electric Economic Development, or REED, loan to Lesterville Fire and Rescue for a building addition and purchase of air packs for the...
Little Motel on the Prairie
Category: Kingsbury, Community, Business
“It’s salt of the earth people that come to visit De Smet. They can’t believe how it keeps its prairie ambiance,” says Cheney. “They think of it as a different world but people still come into town and can feel that friendliness as they walk up and down the street.”In...
Mount Vernon Economic Development Group
Category: Central, Community
Mount Vernon Economic Development Group Receives Funding for HousingMOUNT VERNON, SD, February 10, 2020 – The Mount Vernon Economic Development Group (MVEDG) has constructed another two houses for income-qualified families in the town of Mount Vernon with the help of a Rural Economic Electric Development (REED) loan through Central Electric...
Opera House Group
Category: Central, Community, Cooperatives
Once slated for demolition, the 1905 Opera House now stands proudly on the corner of Dakota and First Street in Wessington Springs, population 974. Financing was used for heating and cooling systems to permit year round use of the facility. The opera house is the only stage in town and...
Our Home, Inc.
Category: Dakota Energy, Community, Cooperatives
Our Home is a non-profit organization that provides housing and educational services to at-risk youth. The $100,000 loan was used to aid in construction of a new dormitory at the facility near Huron, SD, population 12,592.
Rock County Opportunities
Category: Sioux Valley Energy, Community, Cooperatives
Rock County Opportunities (RCO) received financing from Sioux Valley Energy to assist with constructing an addition to its facility in Luverne, MN. The addition will provide additional space for work opportunities for people with disabilities and related conditions. RCO provides training and job coaching to its clients and contracts with...
Rosholt School District
Category: Traverse Electric, Community, Cooperatives
The School District, located in Rosholt SD, population 423, has accessed financing from Traverse Electric three times, all through the USDA REDL&G program. The first loan helped to construct classrooms for grades 9-12, a library and computer laboratory connected to the existing K-8 school building. The library and lab are...
RS Fiber Cooperative
Category: Renville-Sibley, Community, Cooperatives
Renville-Sibley recently closed a $1.5 million loan from the REED Fund to RS Fiber Cooperative of Gaylord, Minn. RS Fiber is a newly-formed cooperative created through a community-driven effort to bring a high-speed fiber-optic connection to everyone in the project area and provide low-cost, reliable high-speed internet, crystal clear video...
South Eastern Development Foundation
Category: East River, Community
SEDF was created to stimulate economic development through the creation of a regional revolving loan (RLF) fund for residents of Clay, Lincoln, McCook, Minnehaha, Turner and Union counties. The RLF serves as a lending partner with banks and other financial institutions in the region. SEDF’s typical loans range from $20,000...
Town of Ward
Category: Sioux Valley Energy, Community, Cooperatives
The Town of Ward Receives $25,000 Loan from Sioux Valley Energy’s REED FundThe Town of Ward was recently given a helpful hand on August 21, 2013 when Sioux Valley Energy issued a Rural Electric Economic Development, or REED, loan to The Town of Ward. The funds will be used to...
Tyler Community Golf Club
Category: Lyon-Lincoln, Community, Cooperatives
The Tyler Community Golf Club is an 18-hole golf course and community/club house facility near Tyler, MN, population 1,143. REED financing was used to construct an addition to the meeting area to allow seating for up to 300 people. The facility will be used for public meetings, special events and...
Union County Historical Society (UCHS)
Category: Union County Electric, Community, Cooperatives
The Historical Society, a volunteer organization in Elk Point, SD, population 1,963, received financing from Union County Electric Cooperative using the USDA REDL&G program, to purchase a 6.7 acre site with a house, two barns and an historic brick kiln for use as a museum, interpretive center and visitor’s center...
Vermillion Area Chamber & Development Company
Category: Clay Union, Community
Vermillion Area Chamber & Development Company Receives Loan from Clay Union Electric’s REED Fund The Vermillion Area Chamber & Development Company was awarded financing in December of 2019 when Clay Union Electric issued a Rural Electric Economic Development, or REED, loan to finance a state of the are storage facility which...
Yankton Rural Fire District
Category: Bon Homme, Community, Cooperatives
The Yankton Rural Fire Association is a membership organization that owns and operates fire protection equipment. It is staffed by the City of Yankton Fire Department to serve rural and residential residents outside the city of Yankton, SD. The fire association obtained a loan to construct an addition to the...