READOUT: U.S. Department of the Treasury Announces Additional Support for Tribal Nations at Native CDFI Network’s Annual Policy and Capacity Building Summit

WASHINGTON – Today, during the Native Community Development Financial Institution (CDFI) Network’s 5th Annual Policy and Capacity Building Summit, the U.S. Department of the Treasury (Treasury) announced an additional $8.6 million in State Small Business Credit Initiative (SSBCI) Capital and Technical Assistance (TA) approvals for Tribal governments. Treasury’s SSBCI Capital Program includes over $500 million in allocations to support Tribal small business financing programs and is the largest federal investment in Indian Country small businesses in history. Additionally, the SSBCI TA Grant Program supports programs that provide legal, accounting, and financial advisory services to qualifying small businesses.The approvals involve an additional $7.4 million in Capital Program allocations to 11 Tribal governments, including the Penobscot consortium, which represents five Tribal governments.