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July 1, 2009
TG-193
Treasury Awards $8 Million in Recovery Act Funding for Native Communities
At Event on the Pine Ridge Indian Reservation, CDFI Fund Director Gambrell Announces
Awards for Native Community Development Financial Institutions
KYLE, SD – As part of the Obama Administration's continued investment in economic development in communities around the country through the Recovery Act, Treasury's Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell today announced $8 million in financial assistance awards for 10 CDFIs committed to serving economically distressed Native American, Alaska Native, and Native Hawaiian communities across the nation.
"These Native CDFIs are transforming their communities by helping to create businesses and needed jobs, provide affordable housing and build vital community facilities in places that desperately need them. They are providing personal financial education and developing business skills in communities that have been excluded from our nation's economic mainstream and they are helping to change the lives of the people they serve," said Gambrell. "In addition to the Recovery Act awards announced today, I'm pleased to announce that the CDFI Fund is releasing a new Native Initiatives five-year strategic plan reaffirming our commitment to overcoming the barriers to capital within Native communities."
The event was hosted by The Lakota Funds, a Treasury certified Native CDFI that provides microloans, small business loans, and business training and technical assistance to members of the Oglala Sioux Nation living on the Pine Ridge Indian Reservation. The announcement was held at the Lakota Trade Center, a 13,000 square foot building supported by The Lakota Funds that provides prime office space for reservation businesses and programs. The center has given rise to The Lakota Funds' award-winning Wawókiye Business Institute that provides entrepreneurs with training and a support network of local, regional, and national business experts.
Also announced at the event were the names of the 26 Native institutions selected from across the nation to receive an aggregate total of $3.3 million in technical assistance grants under the Native American CDFI Assistance Program made possible through the CDFI Fund's FY 2009 annual appropriations.
Recognized at the event were five South Dakota-based award recipients: First Nations Oweesta Corporation (Rapid City); Mazaska Owecaso Otipi Financial, Inc. (Pine Ridge); The Lakota Funds (Kyle); Four Bands Community Fund, Inc. (Eagle Butte); and The Harvest Initiative, Inc. (Fort Thompson) – all of which are leaders serving the community development needs of their Native communities.
The awardees were selected after a competitive review of 49 applications received by the CDFI Fund from organizations across the nation that requested $16.5 million in funding under the 2009 round of the NACA Program.
The CDFI Fund's Native Initiatives work to increase access to credit, capital, and financial services in communities by creating and expanding CDFIs primarily serving Native communities. This is achieved by funding programs and providing a series of training programs to organizations working in Native areas. The CDFI Fund's Native Initiatives also makes financial assistance awards to certified Native CDFIs and provides grants to Native organizations to help them build the capacity to become a certified Native CDFI. More information can be found at http://www.cdfifund.gov.
For more information about these awards, or about the CDFI Fund and its programs, please visit the Fund's website at: http://www.cdfifund.gov.
To view the new Native Initiatives strategic Plan entitled, "Building Native Leaders for Tomorrow" please click here.
2009 NACA Program Awards
|
NACA Program - Recovery Act Awards | |||
|
| |||
|
Awardee Name |
Location |
Award Amount | |
|
Bank of Cherokee County, Inc. |
Tahlequah, OK |
$796,522 | |
|
First Nations Oweesta Corporation |
Rapid City, SD |
$873,600 | |
|
Four Directions Development Corporation |
Orono, ME |
$877,550 | |
|
Hopi Credit Association |
Keams Canyon, AZ |
$789,949 | |
|
Lakota Funds, The |
Kyle, SD |
$876,060 | |
|
Lummi Community Development Financial Institution |
Bellingham, WA |
$596,378 | |
|
Mazaska Owecaso Otipi Financial, Inc |
Pine Ridge, SD |
$870,153 | |
|
Salt River Financial Services Institution |
Scottsdale, AZ |
$869,786 | |
|
White Earth Investment Initiative |
Ogema, MN |
$590,000 | |
|
Wind River Development Fund |
Fort Washakie, WY |
$860,002 | |
|
| |||
|
NACA Program - Technical Assistance Only Awards | |||
|
Made Through FY 2009 Annual Appropriations | |||
|
|
|
| |
|
Awardee Name |
Location |
Award Amount | |
|
Alaska Manufacturing Extension Partnership, Inc. |
Anchorage, AK |
$149,581 | |
|
Aleutian Financial, Inc. |
Anchorage, AK |
$149,950 | |
|
Big Pine Paiute Tribe |
Big Pine, CA |
$135,040 | |
|
Bik'eh Hozho Community Development Corporation |
Tuba City, AZ |
$149,547 | |
|
Catawba Indian Nation |
Rock Hill, SC |
$149,281 | |
|
Chugach Regional Resources Commission |
Anchorage, AK |
$99,130 | |
|
Confederated Tribes of the Chehalis |
Oakville, WA |
$143,343 | |
|
Dakota Futures, Inc. |
Morton, MN |
$137,200 | |
|
Four Bands Community Fund, Inc. |
Eagle Butte, SD |
$131,451 | |
|
Grand Traverse Band of Ottawa and Chippewa Indians EDC |
Suttons Bay, MI |
$142,090 | |
|
Indian Land Capital Company |
Little Canada, MN |
$144,931 | |
|
Kanu o ka Aina Learning Ohana |
Kamuela, HI |
$150,000 | |
|
Karuk Community Loan Fund, Inc. |
Happy Camp, CA |
$108,486 | |
|
Keweenaw Bay Ojibwa Housing and Community Development Corporation |
Baraga, MI |
$137,571 | |
|
Kickapoo Community Development Company, LLC |
Eagle Pass, TX |
$32,756 | |
|
Laguna Housing Development & Management Enterprise |
Laguna, NM |
$150,000 | |
|
Lumbee Revitalization & Community Development Corporation |
Pembroke , NC |
$142,174 | |
|
Native American Development Corporation |
Billings, MT |
$119,739 | |
|
NiiJii Small Business Loan Fund, Inc. |
Keshena, WI |
$117,146 | |
|
Northern Shores Loan Fund, Inc. |
Harbor Springs, MI |
$146,871 | |
|
Quinault Indian Nation |
Taholah, WA |
$125,268 | |
|
San Carlos Apache Tribe |
San Carlos, AZ |
$128,511 | |
|
Seneca Nation of indians |
Salamanca, NY |
$24,390 | |
|
The Harvest Initiative, Inc |
Fort Thompson, SD |
$148,316 | |
|
Turtle Mountain Housing Authority |
Belcourt, ND |
$132,377 | |
|
Wigamig Owners Loan Fund |
Lac du Flambeau, WI |
$148,235 | |
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