FOR IMMEDIATE RELEASE:
Tabor, SD 5/28/2020
Contact: Stephanie Horst, Manager
Bon Homme Yankton Electric Association, Inc.
Yankton Protein, LLC received loan from Bon Homme Yankton Electric’s REED Fund
Yankton Protein, LLC was recently awarded financing when Bon Homme Yankton Electric issued a Rural Electric Economic Development, or REED, loan to Yankton Protein, LLC for assisting with financing the Dakota Protein, LLC facility in rural Yankton, SD.
Working closely with local banks, other loan funds, state and federal agencies to finance community and economic development projects, Bon Homme Yankton Electric provides gap financing through REED to help a business start or expand, create jobs and help communities improve facilities, services and infrastructure.
Horst goes on to say, “In today’s economy, employment and economic development continues to be challenging, so being able to assist through the REED Fund is very gratifying for us, knowing we are making a difference in our small communities and rural areas.”
Approximately 81 percent of REED’s lending is established in communities of less than 4,000 people and 98 percent of REED-financed projects have local ownership.
“One of Bon Homme Yankton Electric’s core principles is Commitment to Community and the REED Fund is a good example of how we support local economic development,” says Horst.
If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Stephanie Horst, Bon Homme Yankton Electric Association at (605) 463-2507 for an application or REED at (605) 256-8015 for more information.
Bon Homme Yankton Electric Association is a distribution electric cooperative located in Tabor, SD serving 3900 residential and commercial locations in Bon Homme and Yankton counties in southeast South Dakota and the town of Tabor for 75 years. This institution is an equal opportunity provider and employer.