Business
Wells Fargo Invests $1 Million Toward Rural Small Businesses in South Dakota
Akiptan and GROW South Dakota receive grants to expand economic opportunity for rural and tribal entrepreneurs statewide MOBRIDGE, SD / ACCESS Newswire / August 20, 2025 / The Wells Fargo Foundation recently announced a $1 million philanthropic investment ...
About this update from Wells Fargo & Company
[{"type":"text","content":"Akiptan and GROW South Dakota receive grants to expand economic opportunity for rural and tribal entrepreneurs statewide","length":120,"tagName":"p"},{"type":"text","content":"MOBRIDGE, SD / ACCESS Newswire / August 20, 2025 / The Wells Fargo Foundation recently announced a $1 million philanthropic investment to support small business growth across South Dakota, with a focus on empowering entrepreneurs in rural and tribal communities. The funding will be distributed evenly between Akiptan, a Native-led community development financial institution, and GROW South Dakota (GROW SD), a statewide economic development organization, providing critical resources and capital to small business owners and agricultural producers throughout the state.","length":571,"tagName":"p"},{"type":"text","content":"As Senate Majority Leader John Thune (R-S.D.) highlighted at the announcement in Mobridge, investing in rural small businesses means investing in the future of South Dakota: "Small businesses are an essential part of the fabric of our communities and our way of life in South Dakota. They provide good-paying jobs and opportunities for so many hardworking folks across our state. This investment will go a long way in helping them grow and create new jobs, especially in rural and tribal communities."","length":511,"tagName":"p"},{"type":"text","content":"Jason Rosenberg, head of Public Affairs for Wells Fargo, emphasized the bank's history in South Dakota at the event and the importance of community investment: "Wells Fargo is proud to support small businesses by expanding avenues to capital as they create economic growth and bring jobs to towns throughout the state and the country. With this new funding, Akiptan and GROW SD can help more small businesses thrive in rural and tribal communities across South Dakota."","length":483,"tagName":"p"},{"type":"text","content":"Akiptan expands opportunities for agricultural producers","length":56,"tagName":"p"},{"type":"text","content":"Akiptan's mission is to transform Native agriculture and food economies by delivering creative capital, leading paradigm changes, and enhancing producer prosperity across Indian Country. Since lending operations began in 2019, Akiptan has addressed the gap in access to capital by offering patient, non-extractive lending tailored for producers a...