Housing Loans

Loans that support housing development are available to both nonprofit and private developers for multi-family rental housing, single family homes for sale or rent, improvements and renovations of property for resale or rental. REED does not make home loans to owner occupants.

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.

Avera Health and Rural Electric Economic Development Fund Announce Workforce Housing Development Financing Partnership

Category: Multi-Family Housing

SIOUX FALLS, S.D. – Avera Health and the Rural Electric Economic Development (REED) Fund Tuesday announced a new $10 million workforce housing development financing partnership. Avera has committed $2 million to the partnership and REED has committed an initial $4 million, with plans to grow the total fund to $10...
Frederick Development Corporation

Category: Northern, Multi-Family Housing, Cooperatives

Two new rental units have been built in the northern Brown County community of Frederick thanks in part to loans from Northern Electric Cooperative’s Rural Electric Economic Development (REED) Fund and Grow South Dakota. The Frederick Development Corporation received a $90,000 loan through the REED Fund and another $90,000 loan...
GROW South Dakota

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...
Prairie Properties, LLC (2018)

Category: H-D Electric, Multi-Family Housing

Prairie Properties, LLC Receives Loan from H-D Electric Cooperative’s REED Fund   H-D Electric Cooperative recently issued a Rural Electric Economic Development (REED) loan to Prairie Properties, LLC  for the construction of an eight-plex apartment building in Lake Norden, SD.   H-D Electric Cooperative utilizes the...
Prairie Properties, LLC (2019)

Category: H-D Electric, Multi-Family Housing

Prairie Properties, LLC Receives Loan from H-D Electric Cooperative’s REED Fund H-D Electric Cooperative recently issued a Rural Electric Economic Development (REED) loan to Prairie Properties, LLC  for the construction of a ten-plex apartment building in Lake Norden, SD. H-D Electric Cooperative utilizes the REED Fund to partner...
Rosholt Housing and Redevelopment Authority

Category: Traverse Electric, Multi-Family Housing, Cooperatives

Rosholt Housing and Redevelopment Commission has a successful 17-year track record in building and managing housing in the town of 427. It owns 10 units, two 4-plexes and a duplex, to meet a growing need for housing. An additional 4-plex was recently completed with all units spoken for. Traverse Electric’s REED...