First National Bank is providing two million dollars in an equity-equivalent investment to Dakota Resources.
The investment will be used as loan funds to support businesses, affordable housing and other community development projects in Beadle, Davison, Sanborn, Yankton, Bon Homme, and Hanson counties through Dakota Resources Capital Investment Fund loans to development organizations serving those areas.
Beth Davis, President of Dakota Resources, says the funding will help with all sorts of business developments
Davis says they put very few restrictions on the use of the money
Davis says they can do the background work for the local development groups
The equity will be funneled through Dakota Resources Capital Investment funds.
(WNAX)