Mobridge Economic Development receives $32.5K from USDA Rural Development to provide resources for microentrepreneurs and microenterprises

U.S. Department of Agriculture Rural Development is investing (Jan. 24, 2024) more than $618,000 through three Rural Development programs in communities across South Dakota– including one at Mobridge.

The investments are grants as part of the Rural Microentrepreneur Assistance Program, Rural Community Development Initiative Grants, and Housing Preservation Grants Program.

“Rural businesses, homeowners and communities are the backbone of the South Dakota economy,” said South Dakota State Director Nikki Gronli. “These investments are just a small example of how Rural Development helps improve the lives of our rural citizens.”

Rural Microentrepreneur Assistance Program Grants provide loans and grants to expand access to new and better markets for rural small business owners and microentrepreneurs:

• Glacial Lakes Area Development received $23,062 to provide technical assistance and training to rural microentrepreneus and miroenterprises.
• Mobridge Economic Development Corporation received $32,536 to provide technical assistance and training to microentrepreneurs and microenterprise.
• Native 360 Loan Fund, Inc. received $13,656 to provide business-based training and technical assistance to rural microentrepreneurs and microenterprises in Charles Mix county and 12 Nebraska counties.

Rural Community Development Initiative Grants help improve housing, community facilities, and community and economic development projects in rural areas:

• Dakota Resources received $500,000 to help implement new, and expand existing opportunities through community and economic development to 18 communities, serving more than 33,500 residents.

Housing Preservation Grants provide funding to help repair or rehabilitate homes, rental properties or co-ops occupied by low- and very low-income rural residents:

• Neighborhood Housing received $50,000 to improve low- and very low-income housing in western South Dakota.

Additional information on these programs is available at www.RD.usda.gov/SD.

Rural Development provides loans, grants and loan guarantees to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, Tribal and high-poverty areas.