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News Article

Value Added Finance Authority Board

Value Added Finance Authority Board
Governor Reappoints Members to Value Added Finance Authority Board
News Release - November 6, 2017

PIERRE, S.D. – Nathan Jensen of Beresford, Jim Doolittle of Belle Fourche and Jim Schmidt of Sioux Falls were reappointed to the South Dakota Value-Added Finance Authority (VAFA) board by Gov. Dennis Daugaard this month.

Jensen serves as senior vice president for First Dakota National Bank, a commercial Ag bank located in 14 cities in South Dakota. Doolittle is a long-time cattle operator in Harding County and an economic development consultant. Schmidt is a farmer in Lincoln County and serves on the Lincoln County Commission and many local boards.

The VAFA is a seven-member board appointed by the Governor. The goal of VAFA is to facilitate the retention of agricultural commodities and products in South Dakota for the maximum feasible time span during the life cycle, or use or consumption of the commodity or product. The board administers the Beginning Farmer Bond program, the Agribusiness Bond Program, the Livestock Nutrient Management Bond Program, the Value Added Sub Fund and the Value Added Agribusiness Relending Program.

“The VAFA board is made up of prestigious, experienced ag industry folks like Jim, Nathan, and Jim who so knowledgeable about agricultural finance and the industry. Our farmers, ranchers and ag business owners are fortunate to have them in their corner,” said Terri LaBrie, executive director of VAFA. 

For a list of other commissioners and more information on VAFA, please visit https://sdda.sd.gov/boards-and-commissions/value-added-finance-authority/.



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