We've Got The County Covered
We've Got The County Covered
HAYS — A new fund to help Native American businesses get of the ground and grow has started on Fort Belknap Indian Reservation.
The Mountain | Plains Regional Native CDFI Coalition (Mountain | Plains Coalition) introduced a new capital source for Native entrepreneurs: the Mountain | Plains Regional Revolving Loan Fund, or RLF.
Seeded by a five-year, $45 million investment from the EDA’s Build Back Better Regional Challenge, $21 million is designated for RLF capital. The RLF offers a new opportunity for Native business owners in the region to access and grow their businesses.
A Collaborative Innovation
In August 2022, nine Native CDFIs serving Montana, Wyoming, South Dakota, and North Dakota received the second-largest EDA revolving loan fund award since the program’s start in 1975. With less than 0.04% of private funding going to Native-led institutions, this investment is historic.
Reciprocity shapes the loan committee’s process, providing peer support and fostering shared values of humility and learning, which strengthen the region’s Native lending capacity. The first loan was approved in October 2023, followed by 18 more aligned with the regional RLF.
Inspiring Native Entrepreneurs
The RLF’s mission is to “Inspire Investment, Indigenously.” Native CDFIs integrate values into their lending, capital circulation, and beneficiaries. The RLF enhances this unique Indigenous approach, influencing partnerships between Native entrepreneurs and CDFIs and the structure of investments into CDFIs. At any stage, the Mountain | Plains Coalition focuses on relationship-based lending and innovative problem-solving. “Every client is different — with a different story to tell and a different path to get to their goal,” said Tommy Robinson, Regional RLF Manager of Four Bands Community Fund in Eagle Butte, SD. “At the end of the day, we’re creating pathways to those solutions and those goals for our communities.”
So far, $4 million has been deployed, supporting businesses like Glacier Laundry, which provides an essential service to the reservation in Browning. Robert Crawford, the owner of Glacier Laundry, shared that his wife and daughter work at the laundromat, with some of his siblings helping with maintenance.
“This is definitely something that is going to stay in the family,” Crawford said.
The capital deployed is the first step to creating lasting change and generational wealth through these businesses. Native businesses looking to participate in this success, and who need capital, should apply with Montana Native Growth Fund.
Historic Investment to Sustain Generations
For more insights into how this $21 million investment is transforming the region and benefiting Native entrepreneurs in Montana, or for information on obtaining a business loan, please contact your local Native CDFI. The following CDFI’s have applications open, serving first come first serve.
Montana Native Growth Fund, https://nativegrowth.org, Lesly Bautista-Nelson
About the Mountain | Plains Regional Native CDFI Coalition
The Mountain | Plains Coalition empowers Indigenous communities through collaborative financial models and capacity-building initiatives, fostering economic progress and sustainability.
Learn more about the Mountain | Plains Coalition online at https://www.mountainplainscoalition.org .
