PIERRE, S.D. (KELO) — A business located along Spearfish Creek in the northern Black Hills received approval for a state government-backed $110,000 loan Thursday from the South Dakota Value Added Finance Authority.
Creekside Bean and Vine of Spearfish plans to use the money as part of a $200,000 start-up and remodeling project. Terms for the state loan are 3 percent interest for seven years.
Among the authority’s purposes set by the Legislature are to develop and promote agricultural processing activity in South Dakota,
The shop will feature South Dakota-based wines, some locally produced items, coffee and healthy foods.
One of the owners is Vicki Furnish of Spearfish. “It’s a new development right on the creek. It will provide something new and unique to Spearfish,” she told authority members.
The vote was 5-0 in favor. “It’s a beautiful area,” chairman Bob Hull of Sisseton told Furnish after the vote.