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NAFOA (Native American Finance Officers Association)

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Photos of the Week: Throwback to the Leading People and Investing to Build Sustainable Communities at Harvard Business School. This year’s program—which was set this week—has been canceled. Photo courtesy NAFOA

5 Things You Need to Know this Week

Keeping you informed as you adjust to changing times. 

1. POLICY:
TRIBAL BUSINESSES INCLUDED UNDER MAIN STREET LENDING PROGRAM
The Federal Reserve Board announced it is expanding the scope and eligibility for the Main Street Lending Program. The program was created to support the economy by ensuring small and medium-sized businesses have the credit they need during the COVID-19 crisis. The availability of additional credit is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain their operations and payroll until conditions normalize. NAFOA will continue to provide updates as they are available. 

 

2. OPPORTUNITIES:
INDIAN AFFAIRS EXTENDS DEADLINE FOR NATIONAL TRIBAL BROADBAND GRANT PROGRAM
Funding will be for feasibility studies for the deployment or expansion of high-speed internet (broadband) transmitted, variously, through digital subscriber line (DSL), cable modem, fiber, wireless, satellite and broadband over power lines (BPL). The purpose of NTBGs is to improve the quality of life, spur economic development and commercial activity, create opportunities for self-employment, enhance educational resources and remote learning opportunities, and meet emergency and law enforcement needs by increasing broadband services to Native American communities that lack adequate connectivity.

The closing time and date for the receipt of applications and mandatory attachments is 11:59 p.m. ET on June 15, 2020.

3. IN THE NEWS:

FOR TRIBES, CASINOS FUND WHAT THE GOVERNMENT DOESN’T. NOW, THEY’RE CLOSED.
When Muscogee Creek Nation, the nation’s fourth-largest tribe, closed its casinos six weeks ago, that suddenly halted a revenue stream that provided school clothes for children, support for the elderly and health care for thousands.

…And though some Native American communities received good news on Friday, when they were told casinos with fewer than 500 employees could apply to the second round of PPP, the win was bittersweet: Those 125 casinos found themselves at the back of the line.

“The fear, which was never clearly answered here, is that we’re behind a queue of applications that are already in backlog,” said Dante Desiderio, a tribal member of the Sappony and executive director the Native American Finance Officers Association. “So yeah, it’s great that the guidance was changed. But it’s also disappointing that it was ever in doubt in the first place.”

Read the full article on ABC News.

 

 

4.  JOBS:
WASÉYABEK DEVELOPMENT COMPANY SUBSIDIARY SEEKS VICE PRESIDENT
Waséyabek Development Company subsidiary, Baker Engineering, LLC, is seeking a Vice President located in their Nunica, MI office.

The Vice President will provide leadership, management and vision to plan, direct, coordinate, and oversee all activities in the organization including Sales, Operations, & Finance, ensuring development and implementation of efficient systems to meet current and future needs of the organization. Learn more and apply.

 

 

5.  EDUCATION:
FINANCIAL MANAGEMENT FRIDAY: IDENTIFYING INDIRECT AND DIRECT COSTS TO MAXIMIZE NEGOTIATING POWER
The virtual conference may be over, but NAFOA has launched the new Financial Management Friday as a part of our ongoing programming to provide continuing development opportunities for member tribes and others. Join us for the next Financial Management Friday on May 15, 2020 to learn about Indirect Costs. Register today.
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