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FOR IMMEDIATE RELEASE
September 24, 2020
WISCONSIN NATIVE LOAN FUND RECEIVES $540,000 GRANT
U.S. Treasury Awards $540,000 to support Wisconsin Native Loan Fund’s Initiatives
Lac du Flambeau, WI, September 24, 2020 – Today Wisconsin Native Loan Fund was awarded $540,000 from the U.S. Department of Treasury through the Native American Community Development Financial Institutions (CDFI) Fund. The FY 2020 FA awardees are headquartered in 13 states, which include 20 awarded organizations. The sum of the awarded FA Grants total $12,300,000.
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 $3.6 billion to CDFIs, community development organizations, and financial institutions through: the Bank Enterprise Award Program; the Capital Magnet Fund; the Community Development Financial Institutions Program; the Financial Education and Counseling Pilot Program; and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $61 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds in the amount of $1.61 billion through the CDFI Bond Guarantee Program.
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/DRAFT%202020%20NACA%20Award%20Book%20091820_v%20approval2.pdf
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