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Black Hills Community Economic Development - Spring 2019

Borrower Focus: C2 Wellness Center

 

     C2 Wellness Center in Spearfish opened its doors recently at The Reserve on Higgins Creek off I-90, Exit 8. The brand-new building includes three businesses: CrossFit Reserve, Spearfish Yoga & Cycle, and Preventative Health Concepts, a functional medicine office specializing in lifestyle modification, nutrition counseling, and preventative medicine.  
     Owners Mike and Melissa Currier and Drs. Gary and Chris Childers, all of Spearfish, were able to secure fixed-rate financing through the SBA 504 loan program and First Interstate Bank. They also qualified for a lower down payment on the construction project than is available through conventional-only sources.
     The building opened in February. Daily CrossFit, yoga, and cycling classes are available, and Dr. Gary Childers is taking appointments. Learn more at the C2 Wellness Facebook page.

Borrower Focus: Acme Bicycles

 

  Acme Bicycles has a new location in West Rapid City. They recently purchased the former home of Dakota Sports at 700 Jackson Blvd. The building is just around the corner from their previous rented location on West Main. The move allows them some much-needed room to expand plus the benefit of owning their own building. Owner Tim Rangitsch partnered with Black Hills Community Bank and Black Hills Community Economic Development on an SBA 504 loan for the building purchase. The program allowed for a lower-than-conventional down payment and a 20 year fixed rate on the 504 portion. Learn more at acmebicycles.com.

March SBA 504 Rates

20 year rates                   25 year rates                  10 year rates
                 April 4.37%                   April 4.53%                           -- 
                 March 4.59%                March 4.74%                      March 4.63%
                 February 4.65%            February 4.77%                   --
                

Board Member Spotlight

Black Hills Community Economic Development’s newest board member, Kory Menken, brings a wealth of experience to the position, as well as West River roots. Menken grew up in Rapid City and worked in the congressional offices of Senators Thune and Pressler. His work in economic and workforce development then took him east for 12 years, where he served as the Director of Workforce Solutions for The Siouxland Initiative and the Siouxland Chamber of Commerce in Sioux City, Iowa and also as the Executive Director of the North Sioux City Economic Development Corporation. However, he knew he would come back, “I’ve always been a West River guy, and I want to put my expertise and experience to work for West River.” 

Copyright © 2019 West River Business Service Center, All rights reserved.


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