Federal funds will help six tribal groups fund homes
$6.2M supports access for members beyond traditional bank options
Community development financial institutions provide critical avenues for funding in rural and underserved communities where traditional banks have been more hesitant to invest. Armed with $6.2 million in new U.S. Department of Agriculture funding, six Native community development financial institutions will now have the ability to support tribal housing across Indian Country.
According to Tribal Business News, 43 home purchase loans and 25 home repair loans are expected to boost housing through the Chehalis Tribal Loan Fund in Washington State, the Haa Yakaawu Financial Corporation in Alaska, Lakota Funds in South Dakota, Lake Superior Community Development Corp. in Michigan, the Nimiipuu Community Development Fund in Idaho and the San Carlos Apache Tribe Relending Program in Arizona.
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