Published November 1, 2007 | November 2007 issue
The Community Development Financial Institutions (CDFI) Fund has awarded a total of $3,632,292 to 19 organizations serving Native communities. The awards were made through the CDFI Fund’s Native American CDFI Assistance (NACA) Program, which encourages the creation and strengthening of CDFIs that primarily serve Native American, Alaska Native and Native Hawaiian communities. CDFIs are specialized entities that provide lending, investments and other financial services in underserved or economically distressed areas. The CDFI Fund, a program of the U.S. Department of the Treasury, certifies and provides support for CDFIs.
Ten of the NACA Program awards went to organizations located in the Ninth Federal Reserve District. Ninth District recipients and award amounts are: First Nations Oweesta Corporation, Rapid City, S.D., $149,912; The Lakota Fund, Kyle, S.D., $135,256; Mazaska Owecaso Otipi Financial, Inc., Pine Ridge, S.D., $129,150; NiiJii Small Business Loan Fund, Inc., Lac Du Flambeau, Wis., $99,768; Sovereign Leasing & Financing, Inc., Ronan, Mont., $149,760; St. Paul American Indians in Unity, St. Paul, Minn., $83,150; Teton Coalition, Inc., Rapid City, S.D., $148,500; Turtle Mountain Housing Authority, Belcourt, N.D., $117,987; White Earth Investment Initiative, Ogema, Minn., $269,500; and Wigamig Owners Loan Fund, Lac Du Flambeau, Wis., $138,970.