PIERRE, S.D. (KELO) — The South Dakota Board of Economic Development has approved low-interest loans totaling more than $4 million to four businesses.
The decisions during Wednesday’s teleconference included:
A $343,800 loan from the SD Works program to Cole-TAC, LLC, a firearms and outdoors-gear company based in Rapid City. The money will be used for construction of an additional 10,000 square feet of manufacturing space at an existing building.
A $89,875 loan from the SD Works program to Barbeque Twist, LLC, based in Aberdeen. The money will be used for for equipment, furniture, and fixtures for a new restaurant.
A $1,851,312 loan from the SD Works program to Maxwell Construction, LLC, of Scotland, owned by Maxwell Hutterite Colony and doing business as E-Z Flo Grain Handling Systems. The money will be used for construction of a 100,000 square-foot building.
A $1,800,000 loan from the REDI Fund program to TM Industries, LLC, a camper manufacturing company based at Artesian and owned by a Hutterite colony. The money will be used for construction of a larger facility.
All four loans were approved on voice votes with no dissents. KELOLAND News has requested additional information about each of the loans.
This story has been updated and also corrects information regarding Maxwell Construction. Reporter Bob Mercer apologizes for the error.