[CircleUp] TREASURY AWARDS $8 MILLION IN RECOVERY ACT FUNDING FOR NATIVE COMMUNITIES

Thu Jul 2 12:24:02 EDT 2009

 Treasury Building<http://www.treas.gov/images/govdelivery/treas-bldg.jpg> 

U.S. Treasury Department 
Office of Public Affairs 

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 <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 <http://www.cdfifund.gov/> . 

To view the new Native Initiatives strategic Plan entitled, “Building Native Leaders for Tomorrow” please click here <http://www.cdfifund.gov/docs/2009/naca/Native%20American%20Strategic%20Plan.pdf> . 

2009 NACA Program Awards 

*	Awards List <http://www.cdfifund.gov/docs/2009/naca/2009%20NACA%20Program%20Award%20List.pdf>  
*	Program Highlights <http://www.cdfifund.gov/docs/2009/naca/2009%20NACA%20Program%20Award%20Highlights.pdf>  
*	NACA Program Awardee Profiles <http://www.cdfifund.gov/docs/2009/naca/2009%20NACA%20Program%20Award%20Profiles.pdf>  
*	NACA Program Award Booklet <http://www.cdfifund.gov/docs/2009/naca/2009%20NACA%20Program%20Award%20Booklet.pdf>  

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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U.S. Department of the Treasury · 1500 Pennsylvania Ave, NW, Washington, D.C. 20220 · (202) 622-2000 

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