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- By Tribal Business News Staff
- Finance
Here are 11 of our most-read Tribal Business News stories this year about access to capital in Indian Country.
White House Tribal Nations Summit highlights sweeping initiatives for tribal empowerment, economic development
As part of the White House Tribal Nations Summit, the Biden administration announced a new Access to Capital Clearinghouse online database that will allow tribes to search for federal funding opportunities including grants and loans that are available to tribal nations and Native businesses through federal agencies.
Indigenous investor raises $75M for Native-focused venture capital fund
Raven Indigenous Capital Partners has raised $75 million (U.S.) to support early- and growth-stage companies led by Indigenous entrepreneurs in Canada and the U.S.
Indigenous venture funds launch NACIA to bridge the capital gap for Native entrepreneurs
Two prominent Indigenous venture capital funds on Saturday announced a new organization aimed at narrowing the gap between Native entrepreneurs and the capital sources that many other founders often take for granted.
Thinking Big: Leveraging other people’s money for Native housing
How do you get projects with hundreds of housing units built in Indian Country when you get only a skimpy amount of federal housing assistance each year? You use leverage.
Native CDFIs get $47M in historic $1.7B U.S. Treasury award
Twenty-nine Native Community Development Financial Institutions (CDFIs) are getting a $47 million injection in funds to help Indian Country overcome persistent economic challenges from the COVID-19 pandemic. The awards are part of a $1.73 billion dispersal from the U.S. Department of the Treasury CDFI Fund to 603 CDFIS through the CDFI Equitable Recovery Program (CDFI ERP) — the largest award in the fund’s 29-year history.
With fresh capital in hand, ILCC plans to accelerate tribal land-acquisition lending
After a historic 2022, Indian Land Capital Company (ILCC) aims to do even bigger things over the next 12 to 15 months — to the tune of “$20 million to $25 million in projects,” Indian Land Capital CEO Rjay Brunkow, a member of the Turtle Mountain Band of Chippewa Indians, told Tribal Business News.
Native American leaders voice concerns on tribal funding implementation during Senate committee roundtable
The Infrastructure Investment and Jobs Act in 2021 and the Inflation Reduction Act in 2022 promised unprecedented levels of federal funding for tribal projects. But crumbling infrastructure, lack of guidance and agency confusion have muddied the flow of dollars to tribal initiatives, according to Indian Country leaders at a Senate Committee on Indian Affairs roundtable Wednesday.
Native CDFI group leads bid to bring hundreds of millions in capital to Indian Country for clean energy
The Native CDFI Network (NCN) is leading a national effort to secure “several hundred million dollars” for clean-energy projects in Indian Country through a $6 billion federal grant program.
Revised Community Reinvestment Act rules open new avenues for Native businesses, communities
Revised regulations to a law meant to assess and support banks in meeting the credit needs of the communities they serve could increase support for Native businesses, communities, and individuals. That’s according to an analysis shared Tuesday afternoon during a webinar hosted by the Center for Indian Country Development (CICD) at the Federal Reserve Bank of Minneapolis.
SSBCI begins delivering $500M set aside to tribal governments
The Treasury recently started distributing funds through the State Small Business Credit Initiative (SSBCI) program, delivering $73 million to a total of 39 tribal governments. The money will subsidize tribal lending efforts to help Native American communities rebound after tribal business ownership fell 40 percent in the early days of the pandemic.
Treasury announces 2nd round of SSBCI funding for tribal governments
Officials from the United States Treasury announced more than $86 million in State Small Business Credit Initiative (SSBCI) funding for two dozen tribal governments during the White House Tribal Nations Summit.
Be sure to check out our most-read news stories of the year, features on 12 Inspiring Indigenous Entrepreneurs we wrote about this year, and our reporters' favorite stories in 2023.
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