{"id":42110,"date":"2024-10-18T15:01:39","date_gmt":"2024-10-18T19:01:39","guid":{"rendered":"https:\/\/indianz.com\/News\/?p=42110"},"modified":"2024-10-18T15:23:28","modified_gmt":"2024-10-18T19:23:28","slug":"treasury-department-state-small-business-credit-initiative-tribal-government-approvals","status":"publish","type":"post","link":"https:\/\/indianz.com\/News\/2024\/10\/18\/treasury-department-state-small-business-credit-initiative-tribal-government-approvals\/","title":{"rendered":"Treasury Department: State Small Business Credit Initiative Tribal Government Approvals"},"content":{"rendered":" \"Department<\/a>
The headquarters of the Department of the Treasury in Washington, D.C. Photo: Adam Fagen<\/a><\/figcaption>\r\n
Treasury Department: State Small Business Credit Initiative Tribal Government Approvals<\/div>\r\n
Friday, October 18, 2024<\/div>\r\n
Indianz.Com<\/div>\r\n

<\/p>\r\nThe following is a list of State Small Business Credit Initiative Tribal Government Approvals released by the Department of the Treasury on October 17, 2024. The list is divided by month. <\/em>\r\n

<\/p>\r\nAnnounced October 2024<\/strong>
\r\n1. Cherokee Nation: The Cherokee Nation, approved for up to $86,853,214, will operate two loan\r\nparticipation programs which will provide financing to Tribal and other underserved\r\nentrepreneurs on the reservation. The programs will allow purchased participations in loans\r\noriginated by a lender, or origination of a companion loan. The intended results of the Cherokee\r\nNation program will be quality jobs for tribal citizens, support for entrepreneurs and small\r\nbusiness employees, multiplier impacts along the supply chain, and rural healthcare\r\nimprovements through entrepreneurial innovation.

<\/p>\r\n2. The Coquille Indian Tribe: The Coquille Indian Tribe, approved for up to $701,618, by Tribal\r\nCouncil resolution, designated its Mith-ih-kwuh Economic Development Corporation to\r\nadminister two loan programs, one loan participation program and one collateral support\r\nprogram. Collectively, the two programs will support multiple Tribally-owned businesses. The\r\nprograms will focus on Tribal businesses in the government contracting, construction, energy,\r\nprofessional services, and commercial development industries. Coquille Indian Tribe expects its\r\nSSBCI programs will create additional jobs and career advancement opportunities for Tribal\r\nmembers and increase the Tribe’s financial resources through growth of its businesses, which will\r\nhelp fund priorities such as elder care, health care, and educational support.

<\/p>\r\n3. The Duckwater Shoshone Tribe of the Duckwater Reservation, Nevada: The Duckwater\r\nShoshone Tribe of the Duckwater Reservation, Nevada, approved for up to $645,217, will operate\r\na single loan participation program (LPP). The LPP program will provide direct\/companion loans\r\nto Tribally-owned businesses with 25 or fewer employees. The LPP is expected to target access to\r\ncapital needs of small businesses across several industries including agriculture, ranching, retail\r\ntrade and crafts, food service, and other sectors. Tribal projects with LPP financing will provide\r\ngrowth opportunities for small businesses and result in job opportunities for Tribal members.

<\/p>\r\n4. The Lac Vieux Desert Band of Lake Superior Chippewa Indians of Michigan: The Lac\r\nVieux Desert Band of Lake Superior Chippewa Indians of Michigan, approved for up to\r\n$672,876, will operate a collateral support program. The collateral support program will support\r\nTribally-owned and member-owned small businesses, as well as small businesses in the\r\ngeographic vicinity of Lac Vieux Desert Band\u2019s Tribal reservation. The program will focus on\r\nsmall businesses in the sustainable food production and distribution industry. The Lac Vieux\r\nDesert Band expects its SSBCI program will address food shortages by increasing the availability\r\nof food while also creating local jobs for the Tribe and its surrounding community.

<\/p>\r\n5. The Santa Ynez Band of Chumash Mission Indians of the Santa Ynez Reservation,\r\nCalifornia: The Santa Ynez Band of Chumash Mission Indians of the Santa Ynez Reservation,\r\nCalifornia, approved for up to $616,641, will operate a single loan participation program (LPP).\r\nThe LPP program will provide direct\/companion loans to Tribal member-owned small\r\nbusinesses. The LPP is expected to target access to capital needs of small businesses in industries\r\nsuch as retail trade and crafts. The Santa Ynez Band expects the LPP financing will benefit Tribal\r\nfamilies in the community and improve the Tribe\u2019s overall economic outlook.

<\/p>\r\n6. The Santee Sioux Nation, Nebraska: The Santee Sioux Nation, Nebraska, approved for up to\r\n$849,328, will operate a single equity direct program. The equity direct program will invest\r\nSSBCI capital in three wholly-owned Tribal enterprises, alongside the investment of private\r\ncapital sourced from Tribal funds obtained through commerce and\/or private investors. The\r\nprogram will invest in Tribal businesses in the telecommunications, manufacturing, and\r\nrecreation industries. The Tribe expects that its SSBCI program will provide models for future\r\ngrowth-based entrepreneurship and foster greater economic diversity for the Tribal community.

<\/p>\r\n7. The Shivwits Band of Paiutes: The Shivwits Band of Paiutes, approved for up to $684,373, will\r\noperate a single equity direct program which expects to invest SSBCI capital in four wholly-\r\nowned Tribal enterprises alongside capital sourced from Tribal funds obtained through commerce\r\nand\/or private investors. The program will invest in Tribal businesses in the retail, youth sports\r\nfacilities, and construction industries. The Shivwits Band of Paiutes estimates that its SSBCI\r\nprogram will create additional job opportunities and foster greater economic diversity for Tribal\r\nmembers.

<\/p>\r\n8. The Sisseton-Wahpeton Oyate of the Lake Traverse Reservation, South Dakota: The\r\nSisseton-Wahpeton Oyate of the Lake Traverse Reservation, South Dakota, approved for up to\r\n$3,176,232, will operate a loan participation program (LPP). The LPP will support Tribal\r\nmember-owned businesses and small businesses located on or near the reservation, with a\r\nprimary emphasis on Very Small Businesses. The LPP will focus on construction, business\r\nservices, travel and tourism, energy, and agriculture industries. The Tribe anticipates that its\r\nSSBCI program will boost the local economy, create jobs, and foster workforce opportunities.

<\/p>\r\n9. The Tohono O\u2019Odham Nation of Arizona: The Tohono O\u2019Odham Nation of Arizona, approved\r\nfor up to $7,856,731, will operate one capital access program (CAP). The program will target\r\nestablished and start-up businesses on or off the Tribal reservation across a variety of industries\r\nfor purposes including, but not limited to, working capital, equipment, and inventory purposes.\r\nThe Tribe expects this CAP program support will facilitate local rural economic development and\r\ncreate jobs and new entrepreneurship opportunities to Tribal members.\r\n

<\/p>\r\nAnnounced July 2024<\/strong>
\r\n1. Bad River Band of the Lake Superior Tribe of Chippewa Indians of the Bad River\r\nReservation, Wisconsin: The Bad River Band of the Lake Superior Chippewa Indians of the Bad\r\nRiver Reservation, Wisconsin, approved for up to $1,923,643, will operate a single loan\r\nparticipation program (LPP). The LPP program will purchase loan participations originated by a\r\nNative CDFI to support Tribal member-owned small businesses across various industries. The\r\nLPP program will target single owner-operated businesses and small businesses supporting\r\nregional broadband connectivity. The Bad River Band estimates that its SSBCI program will\r\nprovide opportunities for member entrepreneurship, foster greater economic diversity for the\r\nTribe, create local jobs, and potentially improve tribal infrastructure.

<\/p>\r\n2. Gila River Indian Community of the Gila River Indian Reservation, Arizona: The Gila\r\nRiver Indian Community, Arizona, approved for up to $5,052,342, will operate one loan\r\nguarantee program (LGP). The program will meet the needs of the Gila River Indian Community\r\nby making financing available to small businesses where the ability for borrowers to perfect\r\ntangible collateral is limited or borrower payment history is limited. The LGP is expected to\r\ntarget a variety of small businesses with an expected emphasis on the agriculture sector. The\r\nTribe expects the program to provide economic diversity for the Gila River Indian Community\r\nand assist with meeting the Tribe\u2019s economic goals, provide opportunities for tribal members to\r\nstart and grow small businesses, as well as create jobs to tribal members.

<\/p>\r\n3. Ketchikan Indian Community: The Ketchikan Indian Community, approved for up to\r\n$1,426,515, will operate one collateral support program (CSP). The program will meet the needs\r\nof the Ketchikan Indian Community by providing much needed credit support for tribal member-\r\nowned small businesses in the state of Alaska. The CSP anticipates serving small businesses\r\nprimarily in the tourism industry, while also supporting businesses in the retail, agriculture, and\r\nreal estate industries. The Tribe expects that the CSP will help the local economy recover from\r\nthe negative impacts of the COVID-19 pandemic while creating greater economic diversification\r\nto assist with high seasonal unemployment.

<\/p>\r\n4. Lower Sioux Indian Community in the State of Minnesota: The Lower Sioux Indian\r\nCommunity in the State of Minnesota, approved for up to $705,201, will operate a single loan\r\nparticipation program (LPP). The LPP program will provide companion loans to Tribally owned\r\nand member-owned small and micro businesses across a variety of industries. The LPP program\r\nwill also support underserved businesses within 50 miles of the Tribal community. Lower Sioux\r\nestimates that its LPP program will diversify its economic base, create more local job opportunity\r\nfor its members, and increase household income levels.

<\/p>\r\n5. Lummi Tribe of the Lummi Reservation: The Lummi Tribe of the Lummi Reservation in the\r\nState of Washington, approved for up to $1,175,953, will operate three programs: one equity\r\ndirect venture capital program, and two loan participation programs (LPPs). The equity direct\r\nprogram will provide investment for two Tribally owned commercial businesses. The LPP\r\nprograms will provide financing to Tribal-owned, member-owned, or local underserved\r\nbusinesses across a variety of industries, targeting projects in the fishing industry and those that\r\npositively impact climate change. Lummi Tribe estimates that its programs will promote\r\nentrepreneurship, create local job opportunities, and develop stronger banking relationships for\r\ntribal members.

<\/p>\r\n6. Mesa Grande Band of Diegueno Mission Indians of the Mesa Grande Reservation: The\r\nMesa Grande Band of Diegue\u00f1o Mission Indians is the lead applicant of a consortium comprised\r\nof six Tribal governments. This consortium, approved for up to $5,307,619, will operate one\r\nequity funds program. This program will meet the consortium\u2019s needs of providing affordable\r\naccess to capital to support qualified financing needs for pre-seed, seed, and early-stage small\r\nbusinesses owned by the consortium Tribes and their Tribal citizens. The equity funds program is\r\nexpected to target access to investment capital in a variety of sectors, including technology and\r\nrenewable energy. The consortium expects the program will extend much needed equity\r\nfinancing to Tribal- and citizen-owned businesses as an alternative to debt financing, and expand\r\nfinancial and business capabilities for these businesses by introducing them to investor networks.

<\/p>\r\n7. Oneida Nation: The Oneida Nation, approved for up to $3,839,291, will operate one loan\r\nparticipation program (LPP). The program will meet the needs of the Oneida Nation by\r\npromoting entrepreneurship and small business growth through the availability of accessible\r\nfinancing. The LPP will target small businesses owned by the tribal nation or tribal members with\r\na focus on the construction, transportation, and service industries with the Tribe expecting the\r\nprogram to encourage small business ownership by tribal members and create additional job\r\nopportunities for tribal members. The Oneida Nation will contract with Bay Bank, a Native\r\nCDFI, to help administer its LPP program and serve as a source of companion loans for the\r\nprogram.

<\/p>\r\n8. Otoe-Missouria Tribe of Indians, Oklahoma: The Otoe-Missouria Tribe of Indians, Oklahoma,\r\napproved for up to $879,653, will operate one equity direct program. The program will meet the\r\nneeds of the Otoe-Missouria Tribe by providing affordable access to capital by investing in the\r\nexpansion of existing Tribally owned enterprises or investing in new Tribal enterprises in the\r\nagriculture, hospitality, and manufacturing sectors. The program is expected to provide additional\r\njob opportunities for tribal members and support the provision of social, educational, healthcare,\r\nand housing programs.

<\/p>\r\n9. Pawnee Nation of Oklahoma: The Pawnee Nation of Oklahoma, approved for up to $909,145,\r\nwill operate one loan participation program (LPP). This program will meet the Tribe\u2019s need to\r\nprovide affordable access to capital to support qualified construction, rehab, equipment, and\r\nworking capital borrowing needs of Tribally-owned enterprises and small businesses owned by\r\nTribal members. The Tribe\u2019s LLP is expected to target access to capital needs for elder care and\r\nhealth sectors, with a portion of the funding targeting expanding financing opportunities to\r\nbusinesses with 10 or fewer employees. The Tribe estimates that the program will create quality\r\njobs for Tribal members and will create expanded healthcare benefits from its targeted funding of\r\nhealth and elder care financing.

<\/p>\r\n10. Red Lake Band of Chippewa Indians, Minnesota: The Red Lake Band of Chippewa Indians of\r\nMinnesota, approved for up to $3,347,495, will operate two programs administered by Red Lake,\r\nInc, a wholly-owned, tribally-chartered company: one loan guarantee program (LGP) and one\r\nequity funds program. The LGP program will provide much-needed credit support for Tribal-\r\nowned and member-owned construction companies to obtain the surety bonds needed to compete\r\nfor large construction projects, including Federal construction contracts. The equity funds\r\nprogram will provide affordable access to capital to support qualified financing needs by\r\nproviding pre-seed, seed, and early-stage Tribal-owned, Tribal member-owned, and underserved\r\nsmall businesses. The equity fund program is expected to target access to investment capital\r\ntowards technology-enabled start-up businesses. Red Lake, Inc. estimates that, collectively, its\r\nprograms will expand member access to bonding and equity finance, provide financial education\r\nto business owners, create jobs for the Tribe and surrounding community, and introduce\r\nparticipating businesses to investor networks.

<\/p>\r\n11. Muscogee (Creek) Nation, Oklahoma: The Muscogee (Creek) Nation, Oklahoma, approved for\r\nup to $20,168,057, will operate three programs: one loan participation program (LPP), one\r\ncollateral support program (CSP), and one equity direct program. The programs will provide\r\ncritical access to capital to traditionally underserved small businesses. The programs anticipate\r\nserving a wide variety of small businesses, with a portion of the funding intended to support\r\nfinancing for start-ups. Collectively, the intended result of the Muscogee (Creek) Nation\u2019s\r\nprograms will be to diversify the Nation\u2019s economic base, create more employment opportunities\r\nfor Tribal citizens, and enable small businesses and start-ups to establish relationships with\r\nlenders and build credit.

<\/p>\r\n12. Saint Paul Island: Saint Paul Island, approved for up to $740,107, will operate one\r\nEquity\/Venture Capital Direct program. The program will make a single direct equity investment\r\nin a new Tribally owned small business, pairing SSBCI funds with Tribal funds that have been\r\nobtained wholly from the Tribe\u2019s other commercial businesses. The Tribe expects this business,\r\nwhich will provide services to federal government agencies, to provide jobs and economic\r\nopportunities for tribal members both on and off Saint Paul Island and generate revenue for Saint\r\nPaul Island that will help fund future Tribal government services, projects, and programs.

<\/p>\r\n13. Saint Regis Mohawk Tribe: The Saint Regis Mohawk Tribe, approved for up to $3,595,613,\r\nwill operate one loan participation program (LPP). This program will meet Saint Regis Mohawk\r\nTribe\u2019s needs of providing affordable access to capital to support qualified construction and\r\nworking capital borrowing needs of Tribally owned enterprises and small businesses owned by\r\ntribal members. The Tribe\u2019s LLP is expected to target access to capital needs in the construction,\r\nyouth services, and other sectors with a portion of the funding targeting expanding financing\r\nopportunities to businesses with 10 or less employees. Saint Regis Mohawk Tribe estimates that\r\nthe program will create jobs for tribal members and provide expanded youth services.

<\/p>\r\n14. Sault Ste. Marie Tribe of Chippewa Indians, Michigan: The Sault Ste. Marie Tribe of\r\nChippewa Indians, Michigan, approved for up to $10,017,610, will operate two programs: one\r\nloan participation program (LPP) and one collateral support program (CSP). The programs will\r\nprovide critical access to capital to traditionally underserved small businesses. The programs\r\nanticipate serving a wide variety of small businesses, with a portion of the funding intended to\r\nsupport financing for start-up businesses. Collectively, the intended result of the Sault Ste. Marie\r\nTribe\u2019s programs will be to create local jobs for Tribal members and enable small businesses and\r\nstart-ups to establish relationships and build credit with lenders.

<\/p>\r\n15. The Manzanita Band of Diegueno Mission Indians of the Manzanita Reservation,\r\nCalifornia: The Manzanita Band of Diegueno Mission Indians of the Manzanita Reservation,\r\nCalifornia, approved for up to $619,889, will operate one loan participation program (LPP). This\r\nprogram will meet Manzanita Band\u2019s need to provide affordable access to capital to support\r\nqualified construction and working capital borrowing needs of Tribally owned enterprises and\r\nsmall businesses owned by tribal members. The Tribe\u2019s LLP is expected to target access to\r\ncapital needs in the clean energy, education, elder care, and health sectors, with a portion of the\r\nfunding targeting expanding financing opportunities to businesses with 10 or less\r\nemployees. Manzanita Band estimates that the program will create quality jobs for Tribal\r\nmembers and will create environmental benefits from its targeted funding of clean energy\r\nprojects.

<\/p>\r\n16. The Spirit Lake Tribe, North Dakota: The Spirit Lake Tribe, North Dakota, approved for up to\r\n$1,677,967, will operate one loan participation program (LPP). The program will meet the needs\r\nof the Spirit Lake Tribe by leveraging SSBCI funds needed to provide affordable access to capital\r\nto support qualified construction, rehab, equipment, and working capital borrowing needs of\r\nTribally-owned enterprises and small businesses owned by tribal members. The LPP is expected\r\nto target small businesses in the construction, entertainment, commercial goods, and community\r\nservices sectors, providing sustainable, full-time jobs to Tribal members and increasing economic\r\ndiversity in accordance with Spirit Lake Tribe\u2019s priorities of increasing job opportunities and\r\nfighting homelessness among its members.

<\/p>\r\n17. The Standing Rock Sioux Tribe of North and South Dakota: The Standing Rock Sioux Tribe\r\nof North and South Dakota, approved for up to $3,576,734, will operate a single loan\r\nparticipation program (LPP). The LPP program will provide much-needed credit support for\r\nTribal member-owned companies and is expected to support a variety of small businesses,\r\nincluding those in the food production, livestock, and agriculture industries. Standing Rock Sioux\r\nTribe estimates that its programs will increase the number and development of small businesses\r\non the Tribe\u2019s reservation, provide greater economic opportunity for Tribal members through job\r\ncreation and entrepreneurship, and assist the Tribe in its efforts to lower the poverty rate among\r\nits members.

<\/p>\r\n18. Winnemucca Indian Colony of Nevada: The Winnemucca Indian Colony, approved for up to\r\n$609,643, will operate one Equity\/Venture Capital Direct Program. The program will meet the\r\nneeds of the Winnemucca Indian Colony by leveraging SSBCI funds to support the equity\r\nfinancing of Tribally owned enterprises. The Tribe expects that the Equity\/Venture Capital\r\nprogram will provide sustainable full-time jobs and professional development opportunities for\r\ntribal members and provide additional revenues for the Tribe that can be used to support public\r\nservices including health, education, and social services.\r\n

<\/p>\r\nAnnounced March 2024<\/strong>
\r\n19. Cheyenne and Arapaho Tribes, Oklahoma: The Cheyenne and Arapaho Tribes, Oklahoma,\r\napproved for up to $2,869,249, will operate one loan participation program (LPP). This program\r\nwill meet the needs of the Cheyenne and Arapaho Tribes by providing affordable credit support\r\nfor majority tribal-owned small businesses. The program anticipates serving small businesses\r\nacross multiple industries including, but not limited to, agriculture, energy, professional services,\r\nand manufacturing. Cheyenne and Arapaho\u2019s LPP will be implemented by its wholly owned,\r\nnon-profit Cheyenne and Arapaho Community Development Corporation (CACDC). In addition\r\nto providing affordable credit support, the Cheyenne and Arapaho Tribes expect the programs to\r\npromote job opportunities and greater financial education for Tribal members.

<\/p>\r\n20. Coushatta Tribe of Louisiana: The Coushatta Tribe of Louisiana, approved for up to $687,039,\r\nwill operate one loan participation program. This program will meet Coushatta\u2019s needs of\r\nproviding affordable access to capital to support qualified construction, rehab, equipment, and\r\nworking capital borrowing needs of Tribally-owned enterprises and small businesses owned by\r\ntribal members. Coushatta\u2019s loan participation program is expected to target access to capital\r\nneeds in the construction, education, and eldercare sectors and estimates that the program will\r\ncreate jobs for tribal members and provide expanded elder care and educational program access to\r\ntribal members.

<\/p>\r\n21. Navajo Nation, Arizona, New Mexico, & Utah: Navajo Nation \u2013 Arizona, New Mexico, Utah,\r\napproved for up to $88,739,540, will operate a loan guarantee program and a loan participation\r\nprogram. Both programs will target eligible small businesses and tribal enterprises that can create\r\njobs for tribal members both on and off the reservation in industries such as construction,\r\nbusiness services, energy, agriculture, and art. The Navajo Nation plans to use its network of 5\r\nRegional Business Development Offices to support the expansion of small business lending on\r\ntribal lands and identify businesses that need additional support to further improve economic\r\ndevelopment opportunities in the Navajo Nation\u2019s communities.

<\/p>\r\n22. Oglala Sioux Tribe: The Oglala Sioux Tribe, approved for up to $10,150,666, will operate one\r\nloan participation program (LPP). This program will meet the needs of the Oglala Sioux Tribe by\r\nproviding affordable credit support for tribal member-owned small businesses and small\r\nbusinesses on or near Oglala\u2019s Pine Ridge Reservation in South Dakota. The program anticipates\r\nserving small businesses across multiple industries including, but not limited to, construction,\r\ntechnology, agriculture, manufacturing, retail, sustainable energy, and travel, and tourism. The\r\nOglala Sioux Tribe estimates that the program will create economic opportunities and a\r\nsignificant amount of jobs for tribal members. The program is also expected to improve energy\r\nand transportation infrastructure, food security, community growth, and workforce development\r\nfor the Tribe and its surrounding communities.

<\/p>\r\n23. Seneca\u2013Cayuga Nation: The Seneca-Cayuga Nation, approved for up to $1,196,612, will\r\noperate one Equity\/Venture Capital Direct program. This program expects to make direct\r\ninvestments in three tribally owned enterprises and projects that investments will target the\r\ntechnology and construction industries as well as a tribally-owned gas station and convenience\r\nstore. The Seneca-Cayuga Nation expects its equity program investments to create new quality\r\njobs for tribal members as well as expand the Tribe\u2019s economic capacity to support future growth.

<\/p>\r\n24. Summit Lake Paiute Tribe of Nevada: The Summit Lake Paiute Tribe of Nevada, approved for\r\nup to $621,389, will operate one collateral support program (CSP). The program will meet the\r\nneeds of the Summit Lake Paiute Tribe by providing much needed credit support for tribal\r\nmember-owned small businesses and small businesses located on Summit Lake tribal land. The\r\nCSP Program anticipates serving small businesses in multiple industries, including businesses\r\nthat support the preservation of natural resources. The Tribe expects that the CSP program will\r\nhelp provide jobs for tribal members and foster long-term economic growth for the Tribal\r\njurisdiction.

<\/p>\r\n25. Wampanoag Tribe of Gay Head (Aquinnah): The Wampanoag Tribe of Gay Head Aquinnah\r\n(WTGHA), approved for up to $721,863, will operate one loan participation program (LPP). This\r\nprogram will provide much needed credit support for WTGHA Tribal citizens who are creating or\r\nexpanding small businesses for which they have a controlling interest. The program anticipates\r\nserving small businesses across multiple industries with a focus on the tourism, hospitality, and\r\nconstruction industries. WTGHA\u2019s LPP program is expected to lead to job creation for Tribal\r\nmembers and provide tribal entrepreneurs access to affordable financing to overcome the high\r\nmaterials and logistics costs of operating businesses on Martha\u2019s Vineyard, where WTGHA is\r\nlocated.

<\/p>\r\nAnnounced December 2023<\/strong>
\r\n26. Akiak Native Community: Akiak Native Community, approved for up to $647,000, will operate\r\none program, an equity\/venture capital program. The program will invest in new wholly owned\r\nTribal businesses, targeting an investment in a wholly owned startup business capable of\r\ncompeting for federal grants and offering needed services to the Tribal community.\r\n27. Cachil DeHe Band of Wintun Indians of the Colusa Indian Community of the Colusa\r\nRancheria, California: Cachil DeHe Band of Wintun Indians of the Colusa Indian Community\r\nof the Colusa Rancheria, California, approved for up to $615,000, will operate one program, an\r\nequity\/venture capital program. The program will make direct equity investments in wholly-\r\nowned tribal businesses with a focus on tourism and hospitality.

<\/p>\r\n28. Caddo Nation: Caddo Nation of Oklahoma, approved for up to $1.4 million, will operate one\r\nprogram, an equity\/venture capital program. The program will target existing wholly-owned\r\nTribal businesses engaged in retail and convenience services, as well as new businesses engaged\r\nin meat processing, construction services, contracting, and clean energy related services,\r\nincluding environmental waste digesters, electric vehicle recharging stations and other similar\r\nbusinesses.

<\/p>\r\n29. Cahuilla Band of Indians: Cahuilla Band of Indians, approved for up to $646,000, will operate\r\none program, a loan participation program (LPP). The program will purchase participation in\r\nloans made by local lenders targeting tribal-owned enterprises and tribal member-owned\r\nenterprises to expand or start up a new small business. Emphasis will be placed on eligible small\r\nbusinesses and tribal enterprises that can create jobs for tribal members both on and off the\r\nreservation.

<\/p>\r\n30. Cheyenne River Sioux Tribe of the Cheyenne River Reservation: The Cheyenne River Sioux\r\nTribe of the Cheyenne River Reservation, SD, approved for up to $4,937,944, will operate one\r\ncapital access program (CAP). The CAP Program anticipates expanding the availability of credit\r\nto small businesses in the retail food, landfill, trucking, agriculture, and communications\r\nindustries. The Tribe expects this credit support will expand opportunities for tribal\r\nentrepreneurship while addressing historically high rates of unemployment and poverty\r\nexperienced by the Cheyenne River Sioux members.

<\/p>\r\n31. Comanche Nation: The Comanche Nation of Oklahoma, approved for up to $3,882,828, will\r\noperate one loan participation program (LPP). The program will meet the needs of the Comanche\r\nNation by providing much needed credit support for tribal member-owned small businesses\r\nlocated throughout Oklahoma while providing jobs for tribal members both on and off the\r\nComanche reservation. The LPP Program anticipates serving small businesses in the construction,\r\nbusiness services, energy, and agriculture industries with the expectation that this credit support\r\nwill also lead to improvements in tribal roads, buildings, other infrastructure, energy production,\r\nfood security, community support, and workforce development.

<\/p>\r\n32. Lac Courte Oreilles Band: Lac Courte Oreilles Band of Lake Superior Chippewa Indians of\r\nWisconsin, approved for up to $1.8 million, will operate one program, a loan participation\r\nprogram (LPP). The program will allow purchased participations in a loan originated by a lender,\r\nor origination of a companion loan. The program will prioritize businesses owned by tribal\r\nmembers living within reservation boundaries but will be available to businesses owned by tribal\r\nmembers living off reservation in WI, and non-tribal member owned underserved businesses\r\noperating on or near reservation boundaries. The program will invest in new wholly-owned Tribal\r\nbusinesses, targeting an investment in a wholly-owned startup business capable of competing for\r\nfederal grants and offering needed services to the Tribal community.

<\/p>\r\n33. Miccosukee Tribe of Indians: Miccosukee Tribe of Indians, approved for up to $656,963, will\r\noperate a loan participation program (LPP). The LPP will make companion loans of up to 35% of\r\nthe principal loan amount and will target small businesses.

<\/p>\r\n34. Minnesota Chippawa – Bois Forte Band: The Minnesota Chippewa – Bois Forte Band,\r\napproved for up to $904,480, will operate one loan participation program (LPP), one loan\r\nguarantee program (LGP), and one collateral support program (CSP). These three programs will\r\nmeet the needs of the Minnesota Chippewa – Bois Forte Band by providing much needed credit\r\nsupport for small businesses that are at least 25 percent owned by a tribal member or first-\r\ngeneration descendant. The programs anticipate serving small businesses in the retail, arts,\r\nrecreation, and personal care industries. The Tribe expects that the loan programs will improve\r\nthe economic opportunities for tribal members and tribally-owned businesses and help generate\r\nadditional tax revenue for the Minnesota Chippewa – Bois Forte Band.

<\/p>\r\n35. Minnesota Chippawa – Fond Du Lac Band: The Minnesota Chippewa – Fond Du Lac Band,\r\napproved for up to $956,633, will operate one loan participation program (LPP), one loan\r\nguarantee program (LGP), and one collateral support program (CSP). These three programs will\r\nmeet the needs of the Minnesota Chippewa – Fond Du Lac Band by providing much needed credit\r\nsupport for small businesses that are at least 25 percent owned by a tribal member or first-\r\ngeneration descendant. The programs anticipate serving small businesses in the retail, arts,\r\nrecreation, personal care, trucking, logging, fishing, photography, media services, and restaurant\r\nindustries. The Tribe expects that the loan programs will improve the economic opportunities for\r\ntribal members and tribally owned businesses.

<\/p>\r\n36. Minnesota Chippewa – Grand Portage Band: The Minnesota Chippewa – Grand Portage Band,\r\napproved for up to $695,786, will operate one loan participation program (LPP), one loan\r\nguarantee program (LGP), and one collateral support program (CSP). These three programs will\r\nmeet the needs of the Minnesota Chippewa – Grand Portage Band by providing much needed\r\ncredit support for small businesses that are at least 25 percent owned by a tribal member or first-\r\ngeneration descendant. The programs anticipate serving small businesses in the retail, arts,\r\nrecreation, personal care, trucking, logging, fishing, photography, media services, and restaurant\r\nindustries. The Tribe expects that the loan programs will improve the economic opportunities for\r\ntribal members and tribally owned businesses.

<\/p>\r\n37. Minnesota Chippewa – White Earth Band: Minnesota Chippewa – White Earth Band, approved\r\nfor up to $3,883,494.00, will operate two programs, a collateral support program (CSP) and a\r\nloan participation program (LPP). Both the CSP program, allocated $800,000, and the LPP\r\nprogram, allocated just over $3 million, will target small businesses that need working capital,\r\nequipment, inventory, or other eligible business expenses and are located on the White Earth\r\nReservation or tribally-owned or controlled.

<\/p>\r\n38. Native American Development Corporation (NADC): A group of 7 Tribal governments\r\napplying jointly through the Native American Development Corporation (NADC), approved for\r\nup to $6.5 million, will operate two programs, a collateral support program (CASP) and a loan\r\nparticipation program (LPP). The LPP program will use companion\/direct loans (preferred) and\r\npurchase participations originated by lenders, including CDFIs, and loans will be made to both\r\ntribal enterprises and native-owned enterprises from the participating tribes. The participating\r\nTribes are located in areas of Montana, South Dakota, Oklahoma, Virginia, and California, but\r\nhave many members located across the country. The participating tribes anticipate that the\r\nprograms can help build a more balanced economy for their Nation and are working closely with\r\nthe Native American Development Corporation to address their diverse business lending needs.

<\/p>\r\n39. Omaha Tribe: The Omaha Tribe of Nebraska, approved for up to $1,535,581, will operate one\r\nloan participation program (LPP). The program will meet the needs of the Omaha Tribe of\r\nNebraska by providing much needed credit support for tribal member-owned small businesses\r\nand jobs for members of the Tribe and residents of the surrounding community. The LPP\r\nProgram anticipates serving small businesses in the renewable energy, construction, technology,\r\nand agriculture industries.

<\/p>\r\n40. San Pasqual Band of Diegueno Mission Indians of California: San Pasqual Band of Diegueno\r\nMission Indians of California, approved for up to $620,889.00, will operate one loan participation\r\nprogram. The program will target loans to tribally owned enterprises, tribal member-owned\r\nbusinesses, Native Americans living on the reservation, and tribal members living off the\r\nreservation in order to provide for transactions that lead to job opportunities and provide benefits\r\nto the tribe.

<\/p>\r\n41. The Choctaw Nation of Oklahoma: The Choctaw Nation, Oklahoma, approved for up to\r\n$44,981,736, will operate three programs: one loan participation program (LPP), one collateral\r\nsupport program (CSP), and one equity direct program. The programs will provide critical access\r\nto capital to traditionally underserved small businesses in the Choctaw Nation reservation. The\r\nprograms anticipate serving a wide variety of small businesses with specific emphasis on\r\nfinancing start-ups and innovation-focused industries. The overarching goal of the Choctaw\r\nNation’s programs is to collectively build a strong reservation economy, fostering sustained\r\ngrowth that generates employment opportunities , elevates wages, improves living standards, and\r\naddresses barriers to capital access for underserved communities and startups lacking established\r\nbanking relationships.

<\/p>\r\n42. The Seminole Nation: The Seminole Nation of Oklahoma, approved for up to $4,139,833, will\r\noperate three programs: one loan participation program (LPP), one collateral support program\r\n(CSP), and one equity direct program. These programs will meet the needs of the Seminole\r\nNation by providing much needed credit support for tribal-owned, tribal member-owned, and\r\nnon-member-owned small businesses within the Seminole Nation’s jurisdiction. The programs\r\nanticipates serving small businesses across multiple industries with the equity direct program\r\nfocused specifically on food sovereignty and energy industries. Collectively, the intended result\r\nof the Seminole Nation’s programs will be job creation and overcoming barriers to capital access\r\nfaced by tribal members.

<\/p>\r\n43. Turtle Mountain Band: Turtle Mountain Band of Chippewa Indians of North Dakota, approved\r\nfor up to $7.2 million, will operate one program, a loan participation program (LPP). The\r\nprogram will purchase participations of up to 50% of senior loans and will partner with a local\r\nbank to originate loans. The tribe expects to work with more than 300 identified small businesses,\r\nother entrepreneurs, and agricultural producers who will receive business training and assistance\r\nto secure a loan.

<\/p>\r\nAnnounced June 2023<\/strong>
\r\n44. Affiliated Tribes of Northwest Indians Economic Development Corporation (ATNI-EDC):\r\nThe group of 25 tribal governments applying jointly through the Affiliated Tribes of Northwest\r\nIndians Economic Development Corporation (ATNI-EDC), approved for up to $21 million, will\r\noperate three programs, a loan guarantee program (LGP) and two loan participation programs\r\n(LPP). The Tribal Bridge Financing Program (TBFP), an LPP program allocated approximately\r\n$12.1 million, will provide companion loans as pre-development capital for Tribal enterprises.\r\nThe TBFP program gives special consideration for projects impacted by climate change. The\r\nLoan Participation for Tribal entrepreneurs (LPTE), an LPP program allocated approximately\r\n$7.7 million, will provide companion loans to Tribal entrepreneurs.

<\/p>\r\n45. Citizen Potawatomi Nation, Oklahoma: Citizen Potawatomi Nation, Oklahoma, approved for\r\nup to $8,066,643, will operate one loan participation program. The Citizen Potawatomi\r\nCommunity Development Corporation (CPCDC) Loan Participation Program expands on an\r\nexisting CPCDC program with multiple participation models including both purchased\r\nparticipations and companion loans. The program will target small businesses among Native\r\nAmericans or Citizen Potawatomi Nation employees in Oklahoma and across the U.S.

<\/p>\r\n46. Confederated Tribes of the Umatilla Indian Reservation: Confederated Tribes of the Umatilla\r\nIndian Reservation, approved for up to $869,823 will operate three programs, a collateral support\r\nprogram (CSP), a loan guarantee program (LGP), and a loan participation program (LPP). The\r\nSmall & Micro Business Loans LPP program will provide up to 50% participation in eligible\r\nloans primarily through companion (direct) loans. The program will target Tribal member and\r\nNative American-owned businesses, including in retail and food service industries, among others.

<\/p>\r\n47. Eastern Band of Cherokee Indians: Eastern Band of Cherokee Indians, approved for up to $3.5\r\nmillion, will operate one program, a loan guarantee program (LGP). The program will meet the\r\nneeds of Eastern Band of Cherokee Indians small businesses applying for loans of up to $750K\r\nthat would not otherwise qualify for private financing due to collateral requirements. They\r\nanticipate serving small businesses in the construction, service, hospitality, food service and craft\r\nindustries.

<\/p>\r\n48. Levelock Village: Levelock Village, approved for up to $627,054, will operate one\r\nequity\/venture capital program. Levelock Village will invest in new or existing wholly owned\r\ntribal businesses serving the tribal community, targeting businesses in the fishing industry.

<\/p>\r\n49. Menominee Indian Tribe of Wisconsin: Menominee Indian Tribe of Wisconsin, approved for\r\nup to $1.99 million, will operate a loan participation program. The MITW Business Loan\r\nProgram will either purchase a portion of a loan originated by a lender or originate a companion\r\nloan. The program will target businesses owned by Tribal members, chartered by the Menominee\r\nTribe, and businesses located on the Menominee reservation.

<\/p>\r\n50. Ninilchik Village: Ninilchik Village, approved for up to $689,038, will operate one program: an\r\nequity\/venture capital program. Ninilchik Village projects it will make direct co-investments into\r\nTuyan, a small business focused on providing engineering services.

<\/p>\r\n51. Paskenta Band of Nomlaki Indians of California: Paskenta Band of Nomlaki Indians of\r\nCalifornia, approved for up to $631,387.00, will operate an equity\/venture capital program. The\r\ndirect equity investment program will target new or existing wholly-owned Tribal small\r\nbusinesses.

<\/p>\r\n52. Redding Rancheria, California: Redding Rancheria, California, approved for up to $639,552,\r\nwill operate one program, an equity\/venture capital program. The program will target small\r\nbusinesses wholly owned by RRTG.

<\/p>\r\n53. Rosebud Sioux Tribe of the Rosebud Indian Reservation, South Dakota: Rosebud Sioux\r\nTribe of the Rosebud Indian Reservation, South Dakota, approved for up to $7.8 million, will\r\noperate one program, a loan participation program (LPP). The Si\u010ba\u014b\u0121u Business Opportunity\r\nFund will purchase participation in loans made by regional banks, CDFIs, private investors and\r\nfoundations, and facilitate connections between Si\u010ba\u014b\u0121u businesses and these lenders. The\r\nprogram will target established Si\u010ba\u014b\u0121u entrepreneurs and tribally owned businesses along with\r\nemerging very small businesses on the reservation.

<\/p>\r\n54. The Chickasaw Nation: The Chickasaw Nation, approved for up to $16.0 million, will operate\r\ntwo programs; a collateral support program and a venture capital program. Each program will be\r\nallocated $8 million. The collateral program will provide support to small businesses seeking debt\r\nfinancing with a gap in collateral. The venture capital program will make limited partner\r\ninvestments in seed and early-stage focused venture funds to support growth in underserved small\r\nbusinesses.

<\/p>\r\n55. The Inupiat Community of the Arctic Slope: The Inupiat Community of the Arctic Slope,\r\napproved for up to $2.9 million, will operate one program, an equity\/venture capital program.\r\nThrough this program, the ICAS Economic Development Department will administer an\r\nequity\/venture capital investment program for tribally owned small businesses. These investments\r\nwill be strategic in their ability to elevate infrastructure, services and commodities throughout the\r\nNorth Slope while respecting Inupiat ways of life.

<\/p>\r\n56. The Osage Nation: The Osage Nation, approved for up to $5,092,326, will operate three\r\nprograms: one loan participation program, one collateral support program, and one equity\/venture\r\ncapital program. The Osage Nation through the SSBCI program will provide credit and\r\ninvestment support to start-up small businesses in the healthcare, tourism, and technology\r\nindustries, amongst other industries.

<\/p>\r\n57. Washoe Tribe of Nevada and California: Washoe Tribe of Nevada and California, approved\r\nfor up to $724,528, will operate a loan participation program (LPP). The LPP will purchase\r\nparticipations or make companion loans of up to 50% of principal loan amounts and will target\r\ntribally-owned enterprises and tribal member-owned enterprises, including start-ups.

<\/p>\r\n58. Yurok Tribe of the Yurok Reservation, California: Yurok Tribe of the Yurok Reservation,\r\nCalifornia, approved for up to $1,406,081, will operate two loan participation programs. The\r\nTribe will originate small dollar loan participations through an authorized CDFI, as well as\r\nparticipate in loans alongside traditional lenders.","protected":false},"excerpt":{"rendered":"The Department of the Treasury released a list of State Small Business Credit Initiative Tribal Government Approvals through October 2024.","protected":false},"author":1,"featured_media":42118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_vp_format_video_url":"","_vp_image_focal_point":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,1],"tags":[71,2782,89],"class_list":["post-42110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-national","tag-economic-development","tag-ssbci","tag-treasury","no-wpautop"],"jetpack_featured_media_url":"https:\/\/indianz.com\/News\/wp-content\/uploads\/2024\/10\/18\/treasurydepartment.jpg","jetpack_shortlink":"https:\/\/wp.me\/pcoJ7g-aXc","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/42110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/comments?post=42110"}],"version-history":[{"count":6,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/42110\/revisions"}],"predecessor-version":[{"id":42119,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/42110\/revisions\/42119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/media\/42118"}],"wp:attachment":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/media?parent=42110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/categories?post=42110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/tags?post=42110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}