Friday, Oct 21 2011 5:17PM
Community Development Financial Institutions and other organizations will, in turn, use the funds to provide loans, marketing assistance, business plan development and other help to local businesses.
The Northwest Area Foundation recently began the Native American Social Entrepreneurship Initiative, a program meant to support the success of Native American reservation-based businesses.
Among the organizations to be assisted is the Business Service Center of Pendleton, Oregon, which will provide business and financial education to students from the Confederated Tribes of the Umatilla Indian Reservation.
"Native social entrepreneurship offers great hope for social change that reduces poverty," said NWAF president and CEO Kevin Walker. "Currently, most Native American reservations have little to no locally-based businesses. When nearly all money is spent outside Native communities, there are few opportunities to create jobs, earn a living, and build prosperous families."
The two-year program will use its $1.5 million in grant funds to support Native American financial institutions. Community Development Financial Institutions and other organizations will, in turn, use the funds to provide loans, marketing assistance, business plan development and other help to local businesses.
The Oregon Native American Business and Entrepreneurial Network will receive the largest grant, which is for nearly $500,000. These funds will support entrepreneurship education efforts in partnership with Native organizations, with a focus on sustainability.
For further reference, check out this source:
Northwest Area Foundation