Director Gambrell To Announce $8 Million In Recovery Act Funding For Native Communities

Gambrell to Visit Pine Ridge Reservation to Highlight Successful Business Incubator Supporting Economic Development

Washington, DC - As part of an effort to highlight the local impact of the American Recovery and Reinvestment Act (Recovery Act) investments, Treasury’s Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell will travel to Kyle, South Dakota to announce $8 million in financial assistance awards for Native CDFIs committed to serving economically distressed Native American, Alaska Native, and Native Hawaiian Communities across the nation.

Director Gambrell will make the announcement on Wednesday, July 1st at 2:00pm at the Lakota Trade Center, a recipient of financial support from a South Dakota based Native CDFI. The Lakota Trade Center is proven to be an economic development leader by helping local entrepreneurs establish new businesses and explore economic opportunities.

In addition to the Recovery Act award announcement, $3.6 million in technical assistance awards to support Native CDFIs will be announced.

Who
CDFI Fund Director Donna J. Gambrell
Senator Tim Johnson
Congresswoman Stephanie Herseth Sandlin

What
National Recovery Act Award Announcement – Native American CDFI
Assistance Program

When
Wednesday, July 1st
2:00pm Mountain
1:00pm media pre-set

Where
Lakota Trade Center
1 Main Street
Kyle, South Dakota 57752

Media planning to attend must contact luechtw@cdfi.treas.gov at (202) 622-8024 for details.

-30-

[CDFI-2009-34]