Dakota Resources

Impact

People in conversation at an outdoor Dakota Resources gathering

Impact

We do the work with the impact in mind.

As a result of Dakota Resources connecting rural economic development organizations to financial capital, leadership capacity, and each other, we see real outcomes.

Dakota Resources is finding that economic development organizations that engage in our programming are less isolated from capital, partners, and new ideas, building their organizations' strategic, operational, and relational capacities, accessing money, resources, tools, and programs to complete projects, and creating economic opportunity in their rural community.

Dakota Resources is on a mission to connect capital and capacity to rural communities. We are proud of what we've accomplished so far.

$83,000,000+
in loans committed to 58 rural organizations over 30 years
$460,000,000
in New Markets Tax Credits allocated to 39 low-income community projects
150+
rural organizations supported through our financial lending and leadership development programs
8,300+
rural leaders connecting, collaborating, and learning together through virtual events and in-person gatherings
46
investors contributing to our loan fund through equity equivalent investments, program related investments, other patient capital, and grants
146
organizations supporting our programming through sponsorships and grants

History

From our beginnings in 1996 to today, Dakota Resources has worked toward making a thriving rural possible. Take a look at our accomplishments along the way.

  1. 1996

    South Dakota Rural Enterprise, Inc. is formed

    A group of 13 leaders come together to form South Dakota Rural Enterprise (SDREI), with a mission to enhance the economic vitality of rural South Dakota communities. The focus is to pool capital from banks, corporations, and other funding sources, and relend it to local economic development organizations (EDOs).

  2. 1998

    Beth Davis becomes president

    SDREI hires the first leader of the organization, Beth Davis. Beth leads SDREI / Dakota Resources for 20 years, retiring in 2018.

  3. 1998

    Community Development Financial Institution certification achieved

    SDREI is certified as a Community Development Financial Institution (CDFI) and begins lending to organizations across South Dakota. The organization becomes re-certified as a CDFI in 2025.

  4. 2004

    New Market Tax Credit launches

    Together with our partner Rural Development Finance Corporation, we form a subsidiary called Dakotas America LLC. This organization is a certified Community Development Entity (CDE), enabling us to apply for New Markets Tax Credit allocation authority.

  5. 2005

    Community engagement programming begins

    We begin offering community engagement opportunities to help build the capacity of leaders in rural places. This effort kicks off the idea of incorporating leadership development capacity building in conjunction with financial capacity building, helping further strengthen rural EDOs.

  6. 2006

    First New Markets Tax Credit allocation

    Dakotas America receives its first New Markets Tax Credit allocation, placing $50,000,000 in allocations with 5 low-income community projects in South Dakota and North Dakota.

  7. 2008

    Dakota Rising launches

    We launch an entrepreneur development program called Dakota Rising. Fellows are selected each year to join a cohort process, form relationships with peers, and build their small business capacity. The program goes on to support 61 entrepreneurs and 55 small rural businesses representing 26 South Dakota communities. The program sunsets in 2019.

  8. 2009

    $10 million in outstanding loans

    Our Capital Investment Fund reaches a new milestone of $10 million in outstanding loans.

  9. 2010

    Dakota Resources becomes our name

    Dakota Resources becomes the new name for South Dakota Rural Enterprises.

  10. 2016

    First RuralX summit

    Over 200 people attend the first-ever RuralX summit in Aberdeen, SD, bringing together rural advocates to lift up the rural conversation.

  11. 2016

    Learning Network launches

    We launch the Learning Network to support and build the capacity of economic development leaders. This network combines in-person and online experiences, breaking down isolation and building collaboration. This leads to the development of our custom platform, Thriverr, in 2022 allowing rural economic development leaders to connect in a deeper way.

  12. 2018

    Joe Bartmann becomes president

    The Board selects Joe Bartmann as the next President of Dakota Resources. Joe brings 18 years of rural community and economic development experience, but most recently has served Dakota Resources as the VP of Innovation developing our Leadership Development programming.

  13. 2018

    $20 million in outstanding loans

    Our Capital Investment Fund reaches a new milestone of $20 million in outstanding loans.

  14. 2020

    A new brand for the future of rural

    Dakota Resources introduces our new brand, helping visually show what the future of rural can look like - vibrant and thriving.

  15. 2020

    Leadership transition at Dakotas America

    Lin Van Hofwegen retires after serving as the first Managing Director of Dakotas America starting in 2005. The Dakotas America board of directors appoints Dustin Ludens as the new Managing Director of the organization.

  16. 2024

    Board coaching deepens

    We begin doing in-depth leadership development coaching with economic development boards, allowing them to build their capacity as a board and organization.

  17. 2025

    $40 million in outstanding loans

    Our Capital Investment Fund reaches a new milestone of $40 million in outstanding loans.

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