GROW South Dakota

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104 Ash St E
Sisseton, SD 57262
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Press Release

Category: East River, Multi-Family Housing, Cooperatives

East River Electric Power Cooperative’s Rural Electric Economic Development (REED) Fund has announced a $1 million loan to GROW South Dakota. The loan was officially closed Nov. 19 and will provide supplemental funding to the organization’s housing loan programs which provide affordable housing options to low-income families.

“East River Electric, its member cooperatives and the REED Fund work to grow our rural communities and make a positive impact in South Dakota and we’ve always been appreciative of the work GROW South Dakota has done to assist people in rural areas of the state,” said REED Fund manager Linda Salmonson. “We’re pleased to be able to partner with GROW South Dakota to provide housing options to people in rural South Dakota.”

GROW South Dakota is an umbrella organization under which many different services are provided. The organization provides funding for programs and initiatives dealing with community, housing and economic development.

“GROW South Dakota would like to thank the REED Fund for their partnership. We are excited to continue to build our housing loan fund to meet unique loan needs in South Dakota.” said GROW South Dakota CEO Marcia Erickson.

The REED Fund was established by the electric cooperatives in eastern South Dakota and western Minnesota in 1996 to enhance economic development in the region.