WISCONSIN NATIVE LOAN FUND RECEIVES $400,000 GRANT
U.S. Treasury Awards $400,000 to support Wisconsin Native Loan Fund’s Initiatives
Lac du Flambeau, WI, November 20, 2019 – Today Wisconsin Native Loan Fund was awarded $400,000 from the U.S. Department of Treasury through the Native American Community Development Financial Institutions (CDFI) Fund. The FY 2019 FA awardees are headquartered in 11 states, which include 23 awarded organizations. The sum of the awarded FA Grants total $12,000,000.
The CDFI Fund’s Native Initiatives generate economic opportunity for Native Communities by supporting the creation and expansion of Native CDFIs through the Native CDFI Assistance Program (NACA Program) and Capacity Building Initiatives. The Native CDFIs, in turn, help to create jobs, increase Native-owned businesses, establish or improve affordable housing and provide access to affordable financing while providing a foundation of development services within Native American communities. About the CDFI Fund
Since its creation in 1994, the CDFI Fund has awarded more than $2.4 billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $57.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, guaranteed $1.61 billion in bonds through the CDFI Bond Guarantee Program, and awarded more than $434 million through the Capital Magnet Fund.
This grant will help support WINLF’s mission to increase financial self-sufficiency of Wisconsin Native American Communities. WINLF has the mission and passion to elevate tribal members by building their capacity to help them become economically stronger and navigate through the economic landscape. The ultimate goal of WINLF is to retain money in the community and teach people to become more self- reliant and economically independent.
A complete list of recipients can be found at https://www.cdfifund.gov/Documents/Final%202019%20NACA%20Award%20Book%20111319.pdf
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