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Finance

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What do you do when your microloan fund suddenly grows by 1,650%?

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A Cleveland-based private equity firm backed by Native American capital is making waves in professional sports ownership, starting with a recent $154 million investment in English Premier League club Ipswich Town FC.

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Native-owned cannabis businesses continue to blossom nationwide, but regulatory confusion threatens to stifle that growth. Complex intersections between tribal and state jurisdictions block many Native operations from accessing basic banking services. 

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The U.S. Department of Treasury has finished approving more than $500 million in State Small Business Credit Initiative (SSBCI) funding for federally recognized tribes, marking the final round of a program aimed at boosting Native American entrepreneurship and small businesses.

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National nonprofit Oweesta Corporation has received a $10 million commitment from Goldman Sachs to support Native Community Development Financial Institutions (CDFIs) and promote economic growth in tribal communities.

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Three decades of confusion around the tax status of tribally chartered businesses may soon come to an end with new federal rules announced on Monday. 

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The sprawling business empire created by tribal leaders in northern Wisconsin was born of desperate times, as the Lac du Flambeau Band of Lake Superior Chippewa Indians faced financial ruin. Its subsequent success would be built on the desperate needs of others far from the reservation.

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In bankruptcy filings and consumer complaints, thousands of people across the country make pleas for relief from high-interest loans with punishing annual rates that often exceed 600%.

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More than $80 million in U.S. Treasury funding could catalyze an additional $830 million in economic opportunities for Alaska Native small businesses, officials said during a press call Tuesday. 

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The U.S. Department of the Treasury announced $65 million in funding to support Native American small business and entrepreneurship through the State Small Business Credit Initiative (SSBCI).