Health Care Loans

Health Care Financing has been an important sector for the REED Fund. Whether it is a medical clinic, hospital, long term care facility or emergency services, REED fund recognizes the importance of access to quality care. Financing can be for buildings or equipment. These projects can compete nationally to receive a 0% loan for a 10 year term.

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 health care 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.

Bowdle Hospital/Community Center

Category: FEM Electric, Healthcare, Cooperatives

The city of Bowdle, population 502, received a loan to construct an addition that connects the city-owned hospital and the nursing care center. The addition enabled shared services and new services, such as a wellness center and community room.
Eureka Hospital

Category: FEM Electric, Healthcare

Eureka Hospital Receives Loan from FEM Electric Association’s REED Fund The Eureka Hospital was recently awarded financing in August of 2018 when FEM Electric issued a Rural Electric Economic Development, or REED, loan and a USDA REDG loan to the Eureka Hospital for equipment to expand the services provided to members...
Hendricks Hospital

Category: Lyon-Lincoln, Healthcare, Cooperatives

Hendricks Community Hospital Association (HCHA), a non-profit corporation, is a critical access hospital that provides acute care, long-term care and congregate housing in Hendricks, MN, population 713. The facility also hosts outreach providers in the areas of audiology, cardiology, ENT, occupational therapy, oncology, orthopedics, podiatry, surgery, urology, and others. Lyon...
Horizon Health Care/Woonsocket

Category: Central, Healthcare, Cooperatives

The new Horizon Health Care, Inc. (Horizon) medical clinic in Woonsocket has benefitted from a pair of low-interest loans through Central Electric Cooperative and the Rural Electric Economic Development (REED) Fund. Central Electric, a local Touchstone Energy® Cooperative, used the Rural Economic Development Loan and Grant (REDLG) program to secure...
Huron Regional Medical Center

Category: Dakota Energy, Healthcare

Dakota Energy Cooperative, an electric distribution cooperative in Beadle, Hand and Hyde Counties of South Dakota, assisted with financing the Huron Regional Medical Center in Huron, SD (HRMC).  HRMC used the funds to replace its IT core infrastructure components of older servers and storage with new systems.  The new systems...
Madison Regional Health System

Category: Sioux Valley Energy, Healthcare

Loan Funds Help Madison Regional Health System Purchase Radiology Equipment Colman, SD - Sioux Valley Energy received funding from the United States Department of Agriculture Rural Economic Development Loan and Grant Program to provide a zero percent interest loan of $300,000 to the Madison Regional Health System.  Sioux Valley...
Prairie Heart Guest House, Inc.

Category: Southeastern, Healthcare, Cooperatives

The GuestHouse is a 20 unit motel-like structure connected to the Heart Hospital of South Dakota. The purpose of the non-profit project is to offer reasonably priced, to free, accommodations to patients and families of patients of the hospital and adjacent North Central Heart Clinic. The facility features comfortable common...
Sundial Manor

Category: Lake Region, Healthcare, Cooperatives

Sun Dial Manor, Inc. Receives Loan from Lake Region Electric’s REED Fund Sun Dial Manor, Inc. was recently given a helpful hand when Lake Region Electric Cooperative, Inc. issued a Rural Electric Economic Development, or REED, loan.  The funds will be used to purchase and install a new generator...
Sunset Manor/Sunset Villas

Category: Southeastern, Healthcare, Cooperatives

Sunset Manor received a 0% loan from Southeastern Electric using USDA’s REDL&G program to assist with construction of an assisted living facility and medical clinic in Irene, SD, population 420. The facility has eight (one and two bedroom) apartments and a common dining room. The Manor operates the facility. The...
Tyler Healthcare Center/Lake Benton Clinic

Category: Lyon-Lincoln, Healthcare, Cooperatives

Lake Region Electric’s loan to Tyler Health Care will help make needed physical improvements to the Lake Benton Minnesota Clinic and enable them to obtain Provider-Based Rural Health Clinic designation from the US Department of Health and Human Services.  After renovations the clinic will operate 32-40 hours per week, an...
Wakonda Heritage Manor

Category: Clay Union, Healthcare, Cooperatives

Located in Wakonda, SD, population 321, Heritage Manor used REED financing make renovations to the entry and resident lounge areas, giving families added space to meet with loved ones and accommodate residents with assistant devices.  Also included in the renovations were additional administrative office space and a networked computer system.