Tuesday, Nov 15 2011 5:16PM
The NACA Program will make approximately $12 million available to various CDFIs that serve Native American, Alaskan Native or Native Hawaiian communities.
During the keynote at the 8th Annual Native Gathering, U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund Director Donna Gambrell announced the opening of the Native American CDFI Assistance (NACA) Program's fiscal year 2012 funding.
The NACA Program will make approximately $12 million available to various CDFIs that serve Native American, Alaskan Native or Native Hawaiian communities.
"The Native CDFI movement grows stronger every year and the NACA Program plays a critical role in the CDFI Fund’s efforts to ensure that Native communities have the same access to capital, credit, and business opportunities as any other community in the United States," Gambrell said in her speech.
Native CDFI's support a variety of community and business initiatives, and the NACA Program supports CDFIs with funds to provide capital as well as helping new CDFIs through technical assistance grants they can use to build organizational capacity. Some funding may also be given to qualifying organizations intending to create a CDFI or become one.
For further reference, check out this source:
Community Development Financial Institutions Fund