Payments lagging for some state loans to agriculture projects

Members of South Dakota’s Value Added Finance Authority last week met in Brookings to tour several projects. They also decided to allow more time for payments to resume from borrowers to whom the authority loaned money. Those borrowers included:

CLR LLC., based in Sioux Falls, received an additional six months to start making payments on a $27,565 loan the authority approved in 2015 for preparatory work toward a biodiesel plant. The authority now wants payments starting May 30, 2018;

HydroGreen Inc., based in rural Sioux Falls, received a one-year extension to begin making payments on a $143,345 loan the authority approved in March 2016 for a feasibility study for live green-grass benefit validation as livestock feed and other preparatory work. The authority now wants payments starting Dec. 31, 2018;

Purity Seeds, based near Raymond, received the authority’s approval to continue making monthly $50 payments through 2018. The business has approximately $15,000 outstanding on a 2008 loan of $17,316 the authority made in 2008; and

Tech V LLC from Sioux Falls received another six months moratorium. The company sought one year. It’s been in a moratorium since 2013 on payment of its authority loan. The authority loaned $280,250 in 2008. The balance is about $176,000.

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