Lakota Funds joins USDA home loan lending program
USDA investment will help finance homeownership opportunities on the Pine Ridge Reservation
Lakota Funds will become South Dakota's third home loan lender under the U.S. Department of Agriculture's Single Family Housing Direct Home Loans program, according to a USDA Rural Development announcement. The agency said the $764,000 investment will provide working capital to finance home loans on the Pine Ridge Reservation in southwest South Dakota.
The agency reported investing more than $8.6 million in South Dakota through the relending program since it began. USDA said Mazaska Owecaso Otipi Financial, located on the Pine Ridge Reservation, has received nearly $3.1 million since 2018, while Four Bands, located on the Cheyenne River Reservation, has received more than $4.8 million during the same period. USDA Rural Development also reported investing more than $24.7 million in 12 additional states since 2023 to support home loans through the program.
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