Community Development Loan Program - Capital Investment Fund

Flexible lending program designed to support rural communities, economic development organizations, housing authorities, and other Community Development Financial Institutions (CDFIs) in completing community and economic development projects.

Geographic Scope:

• South Dakota (primary)
• Minnesota and Wisconsin (expanded service)
• Rural areas across the nation through CDFI partnerships

Focus Areas:

• Housing development
• Infrastructure development
• Revolving loan funds
• Industrial site certifications
• Community facilities

Who They Serve:

• Rural economic development organizations
• Housing authorities
• Community Development Financial Institutions (CDFIs)
• Rural organizations ready to make economic impact

Key Features:

• Flexible Terms: Interest-only payments for up to 10 years with no collateral required
• Fast, Easy, Free Application Process: Simple application with no complex requirements
• One-Year Draw Period: Pre-approved funds can be drawn down anytime within a one-year period
• No Collateral: In most cases, no security required on loan
• Project Flexibility: Funds can be used for any project fitting community/economic development mission

Loan Process:

1. Complete application
2. Work with Director of Community Lending (Terri LaBrie) to gather financial information
3. Receive pre-approval for specific loan amount if qualified
4. Draw down funds anytime within one-year period

Contact:

• Director of Community Lending: Terri LaBrie
• Phone: (605) 978-2804
• Email: [email protected]
• Website: dakotaresources.org

Background: Dakota Resources is a certified Community Development Financial Institution (CDFI) that has been serving rural communities for 25+ years. The organization has invested $30+ million in rural community and economic development organizations and $460 million in New Markets Tax Credit allocations.

Application Process

1. Contact Director of Community Lending: Terri LaBrie at (605) 978-2804 or [email protected]
2. Complete Application: Fast, easy, and free application process
3. Provide Financial Information: Submit relevant financial documents and organizational information
4. Receive Pre-Approval: Once qualified, Dakota Resources provides pre-approval for specific loan amount
5. Draw Down Funds: Access approved funds anytime within one-year period

Required Materials (typical):

• Organization financial statements
• Project description and budget
• Community development/economic development mission alignment
• Organization capacity and track record
• Project timeline

Application Details:

• No collateral required in most cases
• Interest-only payment options available
• Flexible repayment terms (up to 10 years)
• Fast approval process
• Free application