BASEC Loan Helps Fund New Housing Developments in Beadle and Spink Counties

BASEC Loan Helps Fund New Housing Developments in Beadle and Spink Counties Main Photo

1 Aug 2023

News, Featured Loans

Beadle & Spink Enterprise Community, Inc. (BASEC) is committed to providing loan opportunities for housing developments to residents of Beadle and Spink counties in South Dakota. These funds can be used toward building, purchasing, and improving homes.

“Our organization responds to the needs that come through our door, so these funds will be used to build a new home or purchase existing homes,” said Tiffany Thompson, the previous Executive Director of BASEC.

She recently had her last day with BASEC on Friday, June 30th.

“We believe in supporting rural South Dakotans and providing assistance that may not be accessible through traditional lending,” Thompson said.

Here at the REED Fund, we have a similar mission to support the residents and businesses of rural South Dakota (and Minnesota). We do so by providing financing in partnership with economic development lenders for various projects that will lead to a stronger community.

Beadle and Spink Communities With New and Improved Homes

BASEC team members are looking forward to new housing developments throughout the counties.

“We will have a new home in Iroquois next month and these funds will be used to finance our buyer if they lend through BASEC,” Thompson said. “We anticipate the development of a few more homes in the coming months as well as meeting a strong need in our communities to improve their current homes.”

BASEC and REED Make a Positive Difference in Rural South Dakota

The funding for new housing projects will help shape the future of the residents and organizations of rural South Dakota.

“These funds will make a massive impact on our communities and residents,” Thompson said. “BASEC provides opportunities that for many of our customers, aren't available anywhere else.”

Organizations like BASEC and the REED Fund are essential to community development throughout the region. At REED, we provide financing in conjunction with lenders like BASEC for community improvement projects.

“The award of the funds from REED will allow families to purchase a home and build a life in a small town in South Dakota,” Thompson said. “These funds are making dreams come true in our region.”

BASEC Introduces New Community Grant Opportunity

BASEC recently launched a program that will provide grants of up to $500 for projects that will help enhance communities throughout Beadle and Spink counties. So far, they have awarded five grants in 2023 and aim to give 10 every year. BASEC will accept applications for the Community Enhancement Grant until funds run out. 

BASEC also offers the Home Improvement Loan Program which provides a minimum loan amount of $15,000 for repairs and upgrades with flexible loan terms. Be sure to contact the BASEC office at (605) 635-6165 or with questions about the programs offered.