U.S. Department of the Treasury: Native American CDFI Assistance Program (NACA Program)Deadline: May 3, 2019
Native American, Native Alaskan, and Native Hawaiian communities face unique challenges to economic growth. These obstacles include heightened barriers to accessing capital and basic financial services, as well as increased difficultly interacting with private and public sector programs.
With this in mind, the Community Development Financial Institution (CDFI) Fund created the Native Initiatives to further support the creation and expansion of Native CDFIs. Native CDFIs help Native Communities thrive and grow by increasing their access to credit, capital, and financial services. The Native Initiatives program uses a combination of financial, technical assistance, and training to build the capacity of CDFIs serving Native Communities.
Through the Native American CDFI Assistance Program (NACA Program), Financial Assistance awards are made to Native CDFIs. These competitive awards are made in the form of loans, grants, equity investments, deposits, and credit union shares. By multiplying the impact of federal investment, Native CDFIs are able to pursue a variety of goals, from small business creation to affordable housing development, as well as other community development pursuits. Healthy Food Financing Initiative – Financial Assistance awards are also offered for CDFIs that are interested in expanding their healthy food financing activities.
The NACA Program also provides Technical Assistance grants. Recipients may use Technical Assistance awards to increase their capacity to serve their communities and/or to create or become Certified CDFIs.
By building the capacities of Native CDFIs, these mission-driven organizations can more effectively help create jobs, housing, and community facilities for Native Communities in need.
Amount: Approximately $15,500,000 is available to make up to 45 awards ranging from $10,000-$1,000,000.
Eligibility: Certified or Certifiable CDFIs with at least 50 percent of activities serving Native Americans, Alaska Natives, and/or Native Hawaiian communities.