South Dakota Gets a Slice of Loans, Grants

August 23, 2001

Agriculture Secretary Ann Veneman, appearing at DakotaFest, South Dakota's largest farm show being held in Mitchell, announced the selection of $764,000 in loan and grant requests to meet business opportunity needs in South Dakota.

Funds will be provided through the following USDA Rural Development programs: Rural Business Enterprise Grant program (RBEG), Rural Business Opportunity Grant program (RBOG), Rural Cooperative Development Grants, and Rural Business Rural Economic Development loans.

The projects benefitting include the Value-Added Agriculture Development Center, Madison SD, that will get a $100,000 grant to provide technical assistance to promote the production of value-added agricultural products; Day County Champion Community will receive a grant of $99,000 to establish a revolving loan fund to assist in the development of emerging business enterprises; Sturgis Industrial Expansion Corporation will receive a grant of $99,000 to establish a revolving loan fund to assist in the development of emerging business enterprises; Deadwood Economic Development Corporation will receive a grant of $46,000 to establish a revolving loan fund to assist in the development of emerging business enterprises; Northern Hills Community Development, Inc., will receive a grant of $50,000 to establish a revolving loan fund to assist in the development of emerging business enterprises; West River Electric Association will receive a rural development loan of $220,000 for the construction of a water storage reservoir, and Clay-Union Electric Cooperative will receive a of $150,000 to remodel the Wakonda Heritage Manor Nursing Home.