The U.S. Department of the Treasury’s Community Development Financial Institutions Fund recently awarded $700,000 of the Core Financial Assistance to the Citizen Potawatomi Community Development Corporation. The CPCDC is one of 302 Community Development Financial Institutions awarded funds through the fiscal year 2018.
“We are delighted to receive this funding from the CDFI Fund,” said Shane D. Jett, CEO of CPCDC. “This type of funding builds our capital base allowing us to achieve our mission of providing commercial loans to Potawatomi around the United States.”
Awards in this round of funding came from the CDFI Program and the Native American CDFI Assistance Program. CDFIs across the country help generate economic growth by leveraging federal and private-sector funds to provide opportunities within impoverished communities.
The U.S. Department of the Treasury’s CDFI Fund awarded more than $202 million overall. The program invests in and builds the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services.
The CDFI Fund also awarded $15.1 million for NACA Program Financial Assistance and Technical Assistance to 38 organizations in 16 states. The program creates and advances Native CDFIs like the one at Citizen Potawatomi Nation. Organizations funded through the NACA Program serve a wide range of Native American, Alaska Native and Native Hawaiian communities.
“The FY 2018 CDFI Program and NACA Program awardees will provide vital financial services and lending to lowincome communities nationwide,” said CDFI Fund Director Annie Donovan. “The awards will also benefit Native Communities, areas of persistent poverty and individuals with disabilities.”
As one of the largest Native-owned CDFI in the nation, CPCDC is doing its part with a focus on economic growth and development in Indian country for Native American business owners and tribally-owned enterprises. If you would like to know more about our programs and how CPCDC can help your Native-owned business or tribal government, visit cpcdc.org or call 405-878-4697.