GROW South Dakota Receives NeighborWorks® America Funding to Strengthen Communities through Housing, Community, and Economic Development Initiatives
Thursday, March 05, 2015
GROW South Dakota, an exemplary member of the national NeighborWorks® network, is receiving $458,250 in funding from NeighborWorks® America that will support its affordable housing, community, and economic development activities. “We are grateful for our relationship with NeighborWorks® America and their financial support that will boost affordable housing and business lending through our revolving loan fund. This capital will also allow GROW South Dakota to provide improvements to rental real estate in rural communities,” says Marcia Erickson, GROW South Dakota CEO of Housing and Community Development.
"NeighborWorks® grant dollars invested in South Dakota communities resulted in total direct investment of almost $103 million to the State in fiscal year 2013,” said NeighborWorks America CEO, Paul Weech. NeighborWorks® America supports GROW South Dakota and Dakota Home Resources in South Dakota and more than 240 other chartered members of the national NeighborWorks® America network with grants, technical assistance and training. NeighborWorks® organizations believe that quality housing -- homeownership and rental -- is the building block of strong communities.
GROW South Dakota provides a range of community-based services including: housing lending, business lending, financial and homebuyer education; down payment/closing cost assistance; Individual Development Accounts; repairing single-family homes; managing affordable rental housing; and creating opportunities for communities to work together on rural issues.
“We encourage those who are considering home ownership or business ownership for the first time to seek out quality loan products, education, and counseling from GROW South Dakota. Research recently published by NeighborWorks® America shows that borrowers who receive help from a NeighborWorks® organization are significantly less likely to fall seriously behind on their loans within the first two years of repayment,” said Lori Finnesand, GROW South Dakota CEO of Economic Development.
For more information about GROW South Dakota’s housing and business development programs and services, please or call (605) 698-7654.
Category: GROW SD