Coulee Dam Washington – The Northwest Native Development Fund (NNDF) learned yesterday that they will become the recipient of a $1,083,300 award for the expansion of services and to increase the volume of their small business lending. The NNDF will use this million dollar plus award to grow their lending capital fund and increase the current portfolio to $8 million dollars by the year 2022.
“We are happy, humbled and excited that the CDFI Fund saw fit to invest in our little company,” said Ted Piccolo NNDF Executive Director. “We have already provided over $8 million total dollars in small business financing and this award will help us leverage to larger financing dollars in order to fuel small businesses in Eastern Washington.”
The NNDF also provides credit builder loans for people who are struggling to increase their credit scores while avoiding predatory lending operations. They also provide free family budgeting workshops, small business marketing workshops and an extensive business planning course.
“I am proud to announce the fiscal year 2020 CDFI Program and NACA Program Award Recipients,” said CDFI Fund Director Jodie Harris. “These organizations are providing vital economic development and financial services to neighborhoods, businesses, and families. I am especially proud that we have 91 new organizations receiving awards this year, expanding the opportunity of this program to even more communities across the country.”
The CDFI Fund’s Native Initiatives generates economic opportunity for Native Communities by supporting the creation and expansion of Native CDFIs like NNDF though the Native American CDFI Assistance Program (NACA Program) and Capacity Building Initiative trainings. The Native CDFIs, in turn, help to create jobs, establish or improve affordable housing, and provide accessible financial services and counseling within their communities.
The Northwest Native Development Fund has already infused over $8 million dollars in the community. This, largest grant award to date, will significantly help the NNDF to increase their contribution to local economic development.
The NNDF is a non-profit 501 c 3 organization with a mission to help individuals obtain and grow personal assets through lending and technical assistance.