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Lakota Funds Receives Native American CDFI Assistance Program Award

On July 6, 2007, the Native American CDFI Assistance (NACA) Program awarded Lakota Funds $135,256 for developing financial products and marketing materials and also to acquire new computer hardware and MIS system implementation, and to train staff and Board members.

The NACA Program is designed to encourage the creation and strengthening of certified CDFIs that primarily serve Native American, Alaska Native, and Native Hawaiian communities. Organizations funded under the NACA Program serve a wide range of Native Communities, and reflect a diversity of institutions in various stages of development - from organizations in the early planning stages of creating a CDFI, to tribal entities working to certify an existing lending program, to established CDFIs in need of further capacity building assistance.

Through the NACA Program, the CDFI fund provides two types of funding: Financial Assitance awards which are only available to certified CDFIs, and Technical Assistance grants, including operating grants, which are available to certified CDFIs and also to entities that will become or will create a certified Native CDFI.

Lakota Funds not only provides lending products, housing developments, and developmental services, but has created a Business Institute affiliate to serve as a leveraging vehicle to promote community economic development.