U.S. Department of the Treasury Reaches Major Milestone, Approving Over $500 Million to Support Small Businesses in Tribal Nations

Treasury’s allocation of over $500 million in SSBCI funding to Tribal Nations is the largest federal investment in Indian Country small businesses in history.WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) announced reaching a major milestone with the approval of over $500 million in State Small Business Credit Initiative (SSBCI) Capital Program applications from Tribal Nations. This milestone was reached with the approval of up to $86.9 million for the Cherokee Nation and the approval of eight additional applications worth an additional $15 million. Through this $500 million investment, Tribes are expected to leverage as much as $5 billion in additional financing to support Native entrepreneurs and small businesses.To date, Treasury has approved applications for up to $523 million in Tribal Capital Program allocations, representing 235 Tribal Nations.