WASHINGTON, D.C. – The U.S. Department of Agriculture (USDA) Acting Under Secretary for Rural Development Roger Glendenning announced the Department is partnering with eight Native Community Development Financial Institutions (NCDFIs) to expand homeownership opportunities for Native Americans living on tribal lands in eight states.
USDA is providing funding to each institution through the Native CDFI Relending Demonstration Program. This USDA program provides loans to NCDFIs to relend to eligible homebuyers on Native lands. The pilot program is being administered under the Single Family Housing Direct Loan program.
The awards received are as follows:
- In the Midwest, Wisconsin Native Loan Fund is receiving a $1 million loan to finance eight homes.
- Lake Superior Community Development Corporation in Michigan is receiving a $500,000 loan to finance five homes.
- White Earth Investment Initiative in Minnesota is receiving an $800,000 loan to finance eight homes.
- In South Dakota, Mazaska Owecaso Otipi Financial is receiving a $500,000 loan to finance four homes and Four Bands Community Fund will receive a $1 million loan to finance eight homes.
- In the West, Hawaii Community Lending is receiving a $2.4 million loan to finance 10 homes.
- NACDC Financial Services, Inc. in Montana is receiving a $1 million loan to finance 10 homes.
- Native Community Capital, which services Arizona and New Mexico, is receiving an $800,000 loan to finance 10 homes.
The USDA presented one of the awards during a site visit to Wisconsin Native Loan Fund.