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St. James EDA credited with Rural Initiative Award after local SBA loans to Crystal Clean Car Wash
Summary
Dakota Business Finance told the St. James Economic Development Authority that the EDA earned a Rural Initiative Award after two SBA loans to Crystal Clean Car Wash for land and equipment helped secure first place for the EDA in the federal fiscal year ranking.
Lynne Forbes of Dakota Business Finance told the St. James Economic Development Authority on Feb. 10 that the EDA received a Rural Initiative Award, a recognition tied to Small Business Administration lending activity during the federal fiscal year. Forbes said two SBA loans made to Crystal Clean Car Wash — one for land and one for equipment — contributed to St. James earning first place in the award criteria.
Economic Development Director Brianna Sanders said the award reflects recent local lending that supports business expansion. Sanders summarized the loans’ purpose as covering land acquisition and equipment purchases for the car wash, and reported that the lending activity was the factor credited by Dakota Business Finance in placing St. James at the top of the Rural Initiative ranking.
The presentation was informational; the board took no formal action on the award during the meeting. The EDA’s recognition will be part of staff communications and outreach about recent local economic development activity.
