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State fund takes loss on Kadoka loan

Summary by Ground News
State board agrees to take a loss on a loan made to a Kadoka business. The authority in 2013 loaned $151,500 through its agricultural processing and export program. The company eventually went out of business and the owner filed for chapter 7 bankruptcy. The business still owed state government $106,575.30 on the loan.

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KELOKELO
Center

State fund takes loss on Kadoka loan

PIERRE, S.D. (KELO) -- One of state government's business-loan programs is some $35,000 lighter in the pocket.Directors of the South Dakota Economic Development Finance Authority agreed Wednesday to take a loss on a loan made to a Kadoka business.The authority in 2013 loaned $151,500 through its agricultural processing and export program to Fromm's Hardware and Plumbing. SD justices clarify workers-comp standard The company eventually went o…

·Sioux Falls, United States
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KELO broke the news in Sioux Falls, United States on Thursday, August 11, 2022.
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