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1. When was Lakota Funds started?
2. What community does The Lakota Funds serve?
3. What types of programs/services does Lakota Funds provide
to the residents and tribal members of the Pine Ridge Indian
Reservation?
4. Does Lakota Funds Provide grants for community projects?
5. What happens when people don’t
pay back loans to the Lakota Funds?
6. What is the Wawokiye Business Institute (WBI)?
7. Can someone donate or invest into the Lakota Funds?
Q: When was Lakota Funds started?
A: Lakota Funds was started in 1986 as a project of the First
Nations Development Institute.
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Q: What community does The Lakota Funds serve?
A: Lakota Funds serve the Oglala Lakota Nation, an area known
as The Pine Ridge Indian Reservation. The Pine Ridge Indian
Reservation includes Shannon county and parts of Bennett
and Jackson counties. The reservation is located in South
Western South Dakota.
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Q: What types of programs/services does Lakota Funds provide
to the residents and tribal members of the Pine Ridge Indian
Reservation?
A: Lakota Funds provides an array of services to the Pine Ridge
Indian Reservation that include:
- Micro Loans - $5,000 or less
- Small Loans - $5,001 - $25,000
- Artisan Loans - $5,000 or less
- Artisan Loans - $5,001 - $25,000
- Business Loans - $25,000 - $200,000
- Technical Assistance through the Business Success Coaches of WBI
- Individual Development Accounts through the Lakota Tiwahe savings
program
- Low income housing through Wanbli Hohpi Otipi housing project
- Business incubator through the Lakota Fund Trade Center
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Q: Does Lakota Fund Provide Grants for community projects?
A: No. Lakota Funds is a certified Native American Community
Development Financial Institution. At the present time,
Lakota Funds does not provide grants. We provide loans to
small business and entrepreneurs that must be paid back
with interest.
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Q: What happens
when people don’t pay back loans to the
Lakota Funds?
A: Collateral cannot be returned to the
borrower until the loan is paid in full. It affects the
borrower’s ability
to get loans in the future and it affects your overall
credit score. Not paying back a loan to the Lakota Funds
also affects
other people in the community who want to get a loan through
the Lakota Funds because funds from the lending pool
aren't
paid back.
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Q: What is the Wawokiye Business Institute (WBI)?
A: The Wawokiye Business Institute (WBI) is a project of The
Lakota Funds in partnership with Oglala Lakota College and
The Pine Ridge Area Chamber Of Commerce. WBI provides one
to one, client centered business success coaching designed
to assist business owners at all stages of their businesses.
WBI is not a separate organization but rather a project
of Lakota Funds designed to provide a bridge of support
to existing and potential loan recipients of Lakota Funds
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Q: Can someone donate or invest into the Lakota Funds?
A: Lakota Funds exists because many Institutions and Individuals
have either donated money as a tax deductible contribution
or invested their money to get a return on their investment
with a tremendous social impact.
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