NNDF AWARDED $240,000 WELLS FARGO GRANT

wf-grant-header-image

NNDF one of 12 organizations nationwide selected

COULEE DAM, WA – The Northwest Native Development Fund (NNDF) has been selected as one of only 12 nationwide Community Development Financial Institutions (CDFIs) to receive a “Wells Fargo Works for Small Business: Diverse Community Capitol” grant (DCC). CDFIs like the NNDF are private, nonprofit financial institutions that assist underserved populations. Wells Fargo & Company announced on Monday that it is providing $11.2 million to help CDFIs better serve diverse-owned small businesses – $8.17 million in lending capital and $3.075 million in grants.

The NNDF was selected for this round of the Wells Fargo DCC program from among 98 applicants and will use its portion of the DCC loan funds to solidify operations and provide loans to small business owners who may not qualify for traditional financing.  The NNDF will then utilize the grant funds to expand outreach to diverse small business owners, upgrade technology, enhance products and increase technical assistance and coaching to borrowers.

“CDFIs play an important role in helping small business owners access resources that can be critical to success,” said Mike Rizer, Wells Fargo’s head of Community Relations. “Wells Fargo recognizes the vital role that CDFIs play and we are excited to continue the Diverse Community Capital program and to know that more small businesses will start and grow as a result.”

“This has been quite a welcome surprise.” said Ted Piccolo, NNDF Executive Director.  “The NNDF is honored to be one of only a couple Native CDFI’s in the entire nation to receive this award and we look forward to plowing these resources back into helping Indian Country.”

Funding from the Wells Fargo DCC grant will allow the NNDF to address a number of current challenges:

  • Provide a loan loss reserve fund so the NNDF can increase lending.
  • Allow the NNDF to employ a small business coach and also fund more hours for a loan officer.
  • Provide a funds match for the NNDF’s IDA clients – people saving for a first time home or small business. (IDA = Matched savings program. You save $1 we match it with $8.)
  • Inject $70,000 into the NNDF direct lending capital – providing more financing directly into the local community.

The DCC grant program will help the NNDF address challenges that diverse and remote Native owned businesses face when starting or growing their own businesses. This is a unique program that is a collaboration between Wells Fargo and Opportunity Finance Network, a national network of CDFIs. Opportunity Finance Network will be offering a “social capital” component of this program that will focus on helping the NNDF grow stronger through activities like in-person networking, mentorship, consulting and peer learning.

ABOUT THE NNDF

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.

Northwest Native Development Fund Provides Funding For Local Business

Coulee Dam, WA – The Northwest Native Development Fund (NNDF) makes another small business loan in Indian country. Brian Nissen, Chairman of the Boar of the Colville Security company, recently led the company to provide security services for Chief Joseph Dam. Colville Security is an 8a certified company that is now employing over 28 people on (and around) the Colville Indian Reservation.1872

Due to a natural delay in billing cycles, the fledgling company needed funds to purchase some necessary equipment at the front end of the new deal. That led them to the Northwest Native Development Fund and the relationship is a natural fit. The NNDF was able to provide the working capital funding needed to bridge the billing gap.

“This is a case where the NNDF has shown a natural fit as a financing entity. The business gets the job, hires the people, purchases the equipment and NNDF provides the ‘first in’ financing where no one else could do it.” said Ted Piccolo, executive director of NNDF (pictured with Brian Nissen).

The NNDF looks forward to serving the Native owned security company on further cashflow needs as they continue to grow and add more jobs to the Colville Indian Reservation and surrounding communities.
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.

Upcoming FREE Marketing Workshop

Ever wonder why some businesses are able to generate so much stinking traffic with their social media marketing campaigns? How on earth to they get soooo many people talking about their coffee, breakfast, shirts, shoes or insurance, etc…?

Well come out to this free workshop being taught by a social media marketing professional right here in little ol Omak Washington.

Because free is a very good price.

When: November 19th

Where: 12 Tribes Casino, Omak

Time: 10am – 2pm

Presented by the Northwest Native Development Fund and sponsored by the Economic Alliance of Okanogan. thinklike-amarketer-1

At NNDF we LOVE the smell of diesel!

This is a prime example of what the Northwest Native Development Fund was created for.  We are honored to be able to provide assistance to entrepreneurs in our region.jerry-ford-redbones

Here is a note we received from Jerry Ford, owner of Redbone Logging:

“I want to Thank NNDF for the approval on my loan to purchase my very own Log Skidder. This piece of equipment is going to be a huge asset to Redbone Logging. I have been leasing a skidder since last year’s salvage and now I can finally put some payments to something I will own myself. 

“A year ago when I started Redbone Logging it was a struggle because I was starting all over and had no money. I was begging and borrowing just to get fuel to work. I kept saying to myself… ‘just someone give me a chance because I know I can do this.’ Now NNDF is helping me with this loan and I am so thankful.“I really needed this loan, so I contacted NNDF. They have been so helpful and fast to respond, I am so glad I went that route. Again, ‘Thank You’ Ted and The Whole Staff and Committee! The Redbone Logging Family appreciates this and will not let you guys down.”We have every confidence that Jerry and Redbone Logging will do just that.

The Northwest Native Development Fund has been serving the people of the Plateau Indian Tribes for 6 years and has provided almost a million dollars in financing.

Buy Local Buy Native Billboards Arrive

elmer-city-signDriving through Elmer City Washington on highway 155 might look a little different these days. That’s because the NNDF has placed two billboards one facing northbound traffic
and one facing southbound traffic. Thank you to Native owned contractor Claw Construction for erecting the signs for us.

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.

Follow all our daily announcements on Facebook: www.https://www.facebook.com/TheNNDF

 

Family Budgeting Class In Spokane Washington

Are you tired of living pay check to pay check with what seems like no hope of changing?

Come to the Family Budgeting Workshop at the American Indian Community Center in Spokane Washington.

When: October 22nd,

Where: American Indian Community Center

Call: Rhonda or Cassandra at (509) 634-2626

spokane-family-bugeting-screen-shot

 

Upcoming Indianpreneurship Course! Wellpinit Washington.

Mark your calendars everyone. The NNDF will be hosting a two day workshop on entrepreneurship.

When: July 12-13

Where: Spokane Indian Housing Office Wellpinit Washington

Time: 9:00am – 4:00pm.

Information: Contact Olivia Wynecoop, oliviaw@thenndf.org or call (509) 634-2626.

Onaben-Indianpreneurship

The NNDF Funding Dreams

Financing in Indian Country has always been difficult. Yet the Northwest Native Development Fund is working hard to provide capital to Tribal members expanding existing businesses in the forest products industry.FullSizeRender

Corby Turner has been working hard to grow his wood cutting business where he provides firewood to the Colville Senior wood program. For the last three years Mr. Turner has been working his “day job” while also building his own wood cutting and firewood program.
m. Mr. Turner’s new business expansion hopes to add an additional two employees to his operation.

Mr. Shane Innes and his company “Innes Wood IMG_5132Products” has been a client with the NNDF for a number of years and we have had the opportunity to help Mr. Innes grow his business from tree thinning on the Colville Indian Reservation to providing forest thinning for the National Forest Service as an 8a contractor. Shane’s new business expansion hopes to also add an additional two jobs.

With the recent spate of wildfires in the Pacific Northwest both Mr. Innes and Mr. Turner have undertaken to develop a fire suppression aspect of their forest service businesses.

These are just two more examples of our local Tribal members working hard and growing their businesses.

The NNDF A Little Loan Fund That Could… Help a New Restaurateur

—News Release—

The NNDF A Little Loan Fund That Could… Help a New Restaurateur

Tribal member Theresa Desautel-Gilcrist opens up the first restaurant in the Colville Tribes new Government Center

February 4, 2016 – Nespelem Washington.

In November of 2014, Theresa Desautel saw an opportunity. The Colville Tribes had just opened a brand new multi-million dollar government center that would house the entire Tribal administration. Hundreds of employees would be working in the new, state-of-the-art building. All those employees needed to eat.

Mrs. Desautel-Gilcrist approached the Tribe with a proposal to operate a cafeteria in the new building, offering healthy, tasty fare for breakfast and lunch. The new cafeteria would be operated by a private person, a Tribal member, rather than the government. The Tribal administration liked her idea and said, “Yes” to her proposal.Theresa sign

There was one problem. Mrs. Desautel-Gilcrist needed start up capital and some help with her business plan. The Northwest Native Development Fund has established itself as the “go to” local organization for both funding and business expertise for budding native entrepreneurs. Theresa turned to the Northwest Native Development Fund for help and the staff at NNDF went to work helping her make her dream come true.

The Executive Director of the NNDF, Ted Piccolo, noted some of the challenges Theresa faced, “Revenue projections for restaurants are difficult. Projections for a café, on a Reservation, in a brand new building of this size are even more difficult,” he said, “but things are always easier when the owner dives right into the project and Theresa really did.”

Entrepreneurs with a new business idea often find that start-up capital is extremely difficult, and often impossible, to get. Trying to get that kind of financing for a Tribally owned building on an Indian Reservation adds to that challenge. It most often entails more difficulties than an outside bank can address. However, the Northwest Native Development Fund was established to meet challenges just like this and has built itself upon doing those difficult deals. The specialized vision of the NNDF allows it to see true potential, accurately assessing the capabilities of the prospective native entrepreneur and then providing the financing needed.

Piccolo said, “In the case of Red Willow Café’, the market was there. The customers were right there in the building. The owner, Theresa, was burning the midnight oil leading up to the opening and the Tribal government administration really wanted a private individual in there who could service their employees. There was just many reasons a financing entity in the right place, with the right philosophy of lending, would take the opportunity to partner with Mrs. Desautel-Gilcrist.”

Eight weeks later the Red Willow Café’ opened its doors. Inside were 5 new employees and a whole new line-up of foods for the Nespelem area including healthy salads, sandwiches, soups, and smoothies. It might have seemed normal for Seattle, but for this small proud community located in the heart of the Colville Indian Reservation it is new and exciting. Very exciting.

###

 

The NNDF

The NNDF