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September 14, 2012 05:20 AM

Money To Help 2 SD Organizations Boost Rural Areas

PIERRE, SD

Two South Dakota organizations are receiving federal loans so they in turn can lend money to local businesses to boost the economy in rural areas.

The U.S. Agriculture Department is loaning money to organizations in 14 states to help improve the economy and create or save jobs.

In South Dakota, the Northeast South Dakota Economic Development Corp. will get $400,000 to provide low-interest loans to public and non-profit organizations.

Rural Electric Economic Development Inc. is also getting $400,000 to make low-interest loans.

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