Mountain Plains | Regional Native CDFI Coalition
Coalition Lead Applicant: Four Bands Community Fund
Region (applicant-defined): North Dakota, South Dakota, Montana, Wyoming
Phase 2 Federal Award: Approximately $45 million
The Mountain | Plains Regional Native CDFI Coalition, led by the Four Bands Community Fund Inc, will receive approximately $45 million to accelerate the growth of the Indigenous finance sector and expand economic opportunity in Native American communities through an alliance of nine Native Community Development Financial Institutions (CDFIs). Serving North Dakota, South Dakota, Montana, and Wyoming, the coalition seeks to reverse decades of historical disinvestment and institutionalized inequities for Native communities by creating a locally led financing infrastructure to support Indigenous businesses. EDA will provide seed funding to a Regional Revolving Loan Fund intended to strategically deploy financial investments to Native entrepreneurs and small businesses, driving business development and quality job creation. Additional EDA funding will be used to stand up a workforce training program, improve data infrastructure, and make other investments that will expand the capacity of the Indigenous finance sector. The coalition presents a first-of-its kind, cohesive model for Native communities, who have been historically over-reliant on public sector employment due to a lack of private and philanthropic investment, to develop a robust private sector while also establishing economic sustainability and resilience.