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Jepson, Gross, Hendrickson and Hull Re-Appointed to Value-Added Finance Authority Board

South Dakota Department of Agriculture

News Release




For Immediate Release: November 17, 2015

Media Contact: Jody Heemstra 605.773.4073




EDITORS/NEWS DIRECTORS:  To download an audio cut from LaBrie on the VAFA board, visit SDDA’s audio page at http://news.sd.gov/mediacontent.aspx?id=12&media=Audio.


Jepson, Gross, Hendrickson and Hull Re-Appointed to

Value-Added Finance Authority Board


PIERRE, S.D. – Chuck Jepson of Fort Pierre, Mark Gross of Sioux Falls, Marcia Hendrickson of Chancellor and Bob Hull of Sisseton were re-appointed to the South Dakota Department of Agriculture’s (SDDA) Value Added Finance Authority board (VAFA).


VAFA is a seven member board established in 1995 to develop and promote agriculture in the state. The mission of VAFA is to provide lower cost financing for qualifying beginning farmers and agricultural businesses.


“The Value Added Agribusiness Relending Program is a direct loan program that provides low interest rates for small agricultural businesses,” says Terri LaBrie, finance administrator with SDDA. “The Value Added Sub Fund is also available through VAFA. It provides financing for feasibility studies or other business studies to potentially enhance agriculture in South Dakota.”


The tax-exempt bond programs offered through the VAFA are for beginning farmers, agribusinesses and projects with a solid waste disposal component. Board members are appointed by the governor.


All program details and applications through VAFA or the Department of Agriculture are available on the web at http://sdda.sd.gov/finance/ . For a list of other board members and more information on VAFA, please visit https://sdda.sd.gov/boards-and-commissions/value-added-finance-authority/.  


Agriculture is a major contributor to South Dakota’s economy, generating $25.6 billion in annual economic activity and employing over 115,000 South Dakotans. The South Dakota Department of Agriculture's mission is to promote, protect, preserve and improve this industry for today and tomorrow. Visit us online at http://sdda.sd.gov or find us on Facebook and Twitter.




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