NNDF Receives Financial Assistance Grant

Northwest Native Development Fund Announced as a 2017 CDFI Fund Award Recipient

 

Nespelem, Washington (October 10, 2016) – The Northwest Native Development Fund (NNDF) is the recipient a $500,000 grant from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).

This grant will allow the NNDF to continue its goal of helping individuals create and build assets such as, but not limited entirely to, homes and small businesses.  The NNDF accomplishes this by providing financial and technical assistance services for those who may not qualify for other sources of funding.  They leverage their available resources with local lenders and technical assistance providers.

“We are truly grateful for the CDFI Fund award this year,” said Ted Piccolo, Executive Director of the Northwest Native Development Fund. “This comes at a pivotal time for the NNDF in making more small business loans to Natives in the Plateau region of Eastern Washington. We can bring more vital financing to the Colville and Spokane Indian Reservations where small business financing is incredibly difficult.”
About the CDFI Fund

Since its creation in 1994, the CDFI Fund has awarded more than $2.2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $852 million has been guaranteed in bonds through the CDFI Bond Guarantee Program.

To learn more about the CDFI Fund and its programs, please view the Fact Sheet or visit the CDFI Fund’s website at www.cdfifund.gov.
About The Northwest Native Development Fund

The Northwest Native Development Fund seeks to foster economic and financial independence for Native people by assisting in the development of personal assets through financial and entrepreneurial education as well as providing access to capital through creative lending products. NNDF will promote this mission by increasing home ownership and economic opportunities.

For more information on the NNDF, go to www.thenndf.org.

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The NNDF

The NNDF