057906244
Project Grant
Overview
Grant Description
This EDA investment supports the Mountain | Plains Regional Native CDFI Coalition, led by the Four Bands Community Fund, with growing the indigenous finance sector in Montana, North Dakota, South Dakota, and Wyoming. The goal is to expand economic opportunity in Native American communities through an alliance of nine Native Community Development Financial Institutions (CDFIs).
The projects funded as part of this award include the creation of a regional revolving loan fund. This fund is intended to strategically deploy financial investments to Native entrepreneurs and small businesses. Additionally, EDA funding will be used to establish a workforce training program, improve data infrastructure, and make other investments that will expand the capacity of the indigenous financial sector.
Once implemented, this investment will help develop and strengthen regional industry clusters. It will do so while embracing economic equity, creating good-paying jobs, and enhancing U.S. competitiveness globally.
The projects funded as part of this award include the creation of a regional revolving loan fund. This fund is intended to strategically deploy financial investments to Native entrepreneurs and small businesses. Additionally, EDA funding will be used to establish a workforce training program, improve data infrastructure, and make other investments that will expand the capacity of the indigenous financial sector.
Once implemented, this investment will help develop and strengthen regional industry clusters. It will do so while embracing economic equity, creating good-paying jobs, and enhancing U.S. competitiveness globally.
Awardee
Grant Program (CFDA)
Awarding / Funding Agency
Place of Performance
Browning,
Montana
59417-3029
United States
Geographic Scope
Single Zip Code
Related Opportunity
None
Analysis Notes
COVID-19 $6,524,000 (100%) percent of this Project Grant was funded by COVID-19 emergency acts including the American Rescue Plan Act of 2021.
Nacdc Financial Services was awarded
EDA Investment Supports Indigenous Finance Sector in Mountain Plains Region
Project Grant 057906244
worth $6,524,000
from Economic Development Administration in August 2022 with work to be completed primarily in Browning Montana United States.
The grant
has a duration of 4 years and
was awarded through assistance program 11.307 Economic Adjustment Assistance.
$300,000 (4.0%) of this Project Grant was funded by non-federal sources.
Status
(Ongoing)
Last Modified 10/25/22
Period of Performance
8/29/22
Start Date
8/29/26
End Date
Funding Split
$6.5M
Federal Obligation
$300.0K
Non-Federal Obligation
$6.8M
Total Obligated
Activity Timeline
Additional Detail
Award ID FAIN
057906244
SAI Number
None
Award ID URI
SAI NOT AVAILABLE
Awardee Classifications
Nonprofit With 501(c)(3) IRS Status (Other Than An Institution Of Higher Education)
Awarding Office
1331K5 DEPT OF COMMERCE EDA
Funding Office
1331K5 DEPT OF COMMERCE EDA
Awardee UEI
RWGTLKK4M3D7
Awardee CAGE
6UW00
Performance District
00
Senators
Jon Tester
Steve Daines
Steve Daines
Budget Funding
| Federal Account | Budget Subfunction | Object Class | Total | Percentage |
|---|---|---|---|---|
| Economic Development Assistance Programs, Economic Development Administration, Commerce (013-2050) | Area and regional development | Grants, subsidies, and contributions (41.0) | $6,524,000 | 100% |
Modified: 10/25/22