Local spending saw a decline this year as part of the Hillsboro Business Association’s annual Christmas cash campaign.
Through Tuesday, $96,600 in interest-free holiday loans had been processed between Hillsboro’s Dakota Heritage Bank and Goose River Bank branches, down nearly $24,000 from 2019’s campaign.
Factoring in an extra 10 percent in free funds chipped in by the Hillsboro Economic Development Corp., more than $106,260 was invested into the local economy this winter.
Dakota Heritage Bank branch President Dustin Nagel said the ongoing COVID-19 pandemic likely played a role in the decrease in loan applications in 2020.
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