The four members of the Wisconsin Indian Business Alliance (WIBA) have been awarded a total of $1,250,000 in grant funding from the Native American CDFI Assistance Program (NACA).
"Native Americans face great barriers to accessing capital and basic financial services. WIBA is a coalition of non-profit organizations focused on expanding Native economic development by building the financial sovereignty of Native individuals, families, Native-owned businesses and communities in Wisconsin. This funding will enhance our ability to serve our communities and Wisconsin's Native Americans," said Fern Orie, Chairwoman of WIBA and CEO of the Wisconsin Native Loan Fund.
WIBA Members were awarded:
First American Capital Corporation - $550,000First Nations Community Financial - $150,000NiiJii Capital Partners, Inc. -$150,000Wisconsin Native Loan Fund, Inc. -$400,000
The four community development financial institutions (CDFIs) will use the funding to provide financial and technical assistance to Wisconsin Tribal Members with home, consumer and business loans.
WIBA has deployed more than $23 million funds to Wisconsin Tribal Members since inception.
Last fiscal year, WIBA deployed $3,763,596 for housing, consumer and business loans, creating and retaining 76 jobs, assisting 1,442 individuals and families, and assisting 281 small, Native-owned businesses.
"Our continued collaboration is building strong, vibrant economies for Native American individuals, families, businesses and communities by offering affordable lending opportunities and financial training," continued Ms. Orie.
More information on the Wisconsin Indian Business Alliance may be found on WIBA's website at http://wibanative.org.
Working together, WIBA's four Native Community Development Financial Institutions (CDFIs) coordinate and leverage resources to maximize access to loans, training and counseling to best serve Wisconsin Indian Country - both on and off federally recognized reservation communities.
Through collaboration, WIBA is working to build a strong, vibrant economy for Native American individuals, families, businesses and communities by offering affordable lending opportunities to Tribal Members in Wisconsin.
WIBA Members work collectively to bring millions of dollars to Wisconsin Indian Country from corporations, foundations and government programs to deliver our continuum of loan products and capacity building development services to Native individuals, families, businesses and communities.