The Seed, LLC requested $150,000 from the City of Rapid City Life Safety Loan fund reports the Rapid City Journal. The Rapid City Legal & Finance Committee granted the group an $80,000 loan for the new fire suppression system. City staff is currently looking for other funding options because $80,000 was all that was left in the loan fund. The Seed is a shared studio space located at 412 5th Street. The building representative said if additional funds were found, they would apply for another loan. The loan will be paid back at an interest rate of 2% for the first year, with the opportunity for a reduced interest rate if a letter of credit is established.