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 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.
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."
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."
Akiptan expands opportunities for agricultural producers
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 across Indian country. For Akiptan, each agricultural operation is more than just a business - it's a family legacy and a way of life.
"We are excited and humbled to receive these funds from Wells Fargo," said Skya Ducheneaux, Executive Director, Akiptan. "We can't wait to put these dollars to work in Indian Country by supporting agriculture operations. Especially in South Dakota, agriculture is a root-level driving force of the economy that we are proud to support."
GROW SD supports rural small business success
GROW SD will directly support rural economic development by expanding access to capital and by providing business support for small business owners, enabling business growth and the preservation or creation of jobs. All participating businesses will also benefit from customized technical assistance, including one-on-one advising and targeted training in areas such as cash flow forecasting, credit counseling, and marketing.
"Access to capital remains one of the greatest challenges in our rural communities, and this collaboration allows us to deliver the critical funding and assistance that local entrepreneurs need to grow and succeed," said Marcia Erickson, GROW SD Co-CEO. "It is also a privilege to work alongside Akiptan in this partnership and to support its efforts in serving farm producers."
"This $1 million investment into South Dakota from Wells Fargo will strengthen local economies and create a lasting impact across the communities we serve. We are grateful to be able to expand the reach of our work across rural communities," Lori Finnesand, Co-CEO, added.
For more information, small business owners can visit www.akitpan.org or www.growsd.org.
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Media Contacts:
Maureen Nelson, GROW South Dakota, maureen@growsd.org
Dawn LeBeau, Akiptan, dawn@akiptan.org
Kim Erlichson, Wells Fargo, kim.erlichson@wellsfargo.com
Senate Majority Leader John Thune joined leaders from Wells Fargo, Akiptan and GROW South Dakota for an announcement of Wells Fargo's $1 million philanthropic investment in rural and tribal small business growth across South Dakota.
View additional multimedia and more ESG storytelling from Wells Fargo & Company on 3blmedia.com.
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SOURCE: Wells Fargo & Company
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/wells-fargo-invests-1-million-toward-rural-small-businesses-in-south-1063391
