1 2011 south dakota indian business alliance community development financial institutions (cdfi)...
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Community Development Financial Institutions (CDFI) Fund
2011 South Dakota Indian Business 2011 South Dakota Indian Business Alliance Alliance
Community Development Financial Institutions (CDFI) Fund
2011 South Dakota Indian Business 2011 South Dakota Indian Business Alliance Alliance
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CDFI Programs
What is the CDFI Fund?
How does the CDFI Fund achieve its mission?• Native Initiatives (NACA)
• CDFI Program (FA and TA)
• Other CDFI Fund Programs
What is a certified CDFI? • Banks, bank holding companies and thrifts
• Credit unions
• Loan Funds (non-profit and for-profit)
• Venture Capital Funds
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Native Initiatives: Introduction
Native American CDFI Assistance Program (NACA):
• Financial and Technical Assistance (FA/TA):• Maximum request amounts
• $750,000 FA for certified or certifiable Native CDFIs
• $150,000 TA for all applicants
Capacity Building • Portfolio Management
• CDFI Capitalization
• Financing Healthy Foods
• Webinars
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NACA Program: FY 2011 Highlights
Most applications in a single funding round• 88 Applications from 24 states requesting:
• $26.8 million for FA/TA
• $8.2 million for TA only
• $12 million funding available
• Applications received from following groups: • 39 Certified or Certifiable
• 26 Emerging
• 23 Sponsoring Entities
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Native CDFIs in South Dakota
The Lakota Fund• Lent $4.7M in 25 years
660 micro/small business loans, 1000 jobs
• EITC, VITA, IDA services
• Starting a Federal Credit Union
Four Bands Community Fund• Lent $2.3M in 10 years
Expanded 90 businesses, 150 jobs
• 2400 people received TA and training
• $250,000 in IDA matching funds
Lower Brule Community Development Enterprise• Received $18M in New Markets Tax Credit Allocation
• Tribal economic development projects
• Real estate and business financing
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CDFI Capacity Building Initiatives: Expanding Native Opportunities
• Expand technical assistance and training opportunities for Native Community Development Financial Institutions (CDFIs) nationwide
• Significantly boost the ability of Native CDFIs to deliver financial products and services to underserved communities
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Growing Economies in Indian Country: “Taking Stock of Progress and Partnerships"
• Identify existing challenges to economic development in Indian Country;
• Identify best practices and solutions that address challenges;
• Discuss federal and regional economic development initiatives
• Reach rural populations
• Improve access to capital
• Infrastructure to build institutions
• Capacity Building Initiatives
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Growing Economies in Indian Country: “Taking Stock of Progress and Partnerships"
WORKSHOP LOCATIONS AND DATES
• June 28, 2011 Phoenix, AZ
• Hyatt Regency Phoenix
• July 19, 2011 San Diego, CA
• San Diego Mission Valley Marriott
• July 21, 2011 Portland, OR
• Courtyard Hotel Portland Airport
• August 30, 2011 Billings, MT
• Crowne Plaza Hotel
• September 20, 2011 Bangor, ME
• Hilton Garden Inn Bangor
• September 22, 2011 Lac du Flambeau, WI
• Lake of the Torches Convention Center
PARTNERS
• Treasury, CDFI Fund/Native Affairs
• Federal Reserve System
• SBA, Office of Native American Affairs
• DHHS, Administration for Native Americans
• DOI, Indian Energy and Economic Development
• USDA, Rural Development
• HUD, Office of Native American Programs
• Department of Commerce, Office of the Secretary / Economic Development Administration
• OCC
• FDIC
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Contacting the Fund
Chris JamesAssociate Program Manager, Native Initiatives
[email protected] /202.622.8704
Brian RozentalPortfolio Manager, CDFI and NACA
[email protected] /202.622.8643
Compliance Support: [email protected] / 202.622.8226 Technical Support: [email protected]/ 202.622.2455