First Nations Oweesta Corporation Receives Grant from USDA Rural Development to assist start-up Native CDFIs

News Date: 
Oct 13 2011
FOR IMMEDIATE RELEASE

First Nations Oweesta Corporation Receives Grant from USDA Rural Development to assist start-up Native CDFIsLONGMONT, Colorado (October 13, 2011) – First Nations Oweesta Corporation (Oweesta) is pleased to announce that it has received a Rural Business Opportunity Grant (RBOG) totaling $149,936 from the US Department of Agriculture - Rural Development.  This funding will allow Oweesta to assist start-up Native Community Development Financial Institutions (CDFIs) serving rural Indian communities  in California, Idaho and Montana.  In addition to providing essential technical assistance that will aid the emerging CDFIs as they work towards becoming certified lending institutions, Oweesta and its partners will provide training to the eligible organizations in the areas of personal financial management, business plan development and credit coaching so they can then offer this critical support to members of their tribal communities who are aspiring entrepreneurs and small business owners. 
 
Already working towards addressing the economic and community development issues in their communities, the start-up CDFIs who will receive assistance through the RBOG include:
  • Crow Economic Development Department – Serving the Crow Indian Reservation in Montana
  • Nez Perce Tribal Enterprises – Serving the Nez Perce Indian Reservation in Idaho
  • Resource For Native Development – Provides services to 26 tribal communities in Butte County, Mendocino County, Lake County and Sonoma County (all located in northern California)
“We are excited to strengthen our partnership with Oweesta, a national CDFI intermediary, in our joint efforts to increase financial education and access to capital in our Native communities," stated Armon Isaiah Batiste, board chairman of Resource For Native Development. “This grant will allow us to give each Tribal community the opportunity to design financial and entrepreneurial programs and services to best meet their Tribal economy’s needs. The collaboration will assist the Tribes to decrease the economic and health disparities that are often seen in our rural Native

Jon Panamaroff, executive director and senior vice president of Oweesta shared, “Native CDFIs are transforming economies in many rural tribal communities by providing crucial financing and business developmental services to individuals within those communities.  With support from USDA, Oweesta can provide its expertise and deliver customized technical assistance to these CDFIs as they move towards becoming certified by the U.S. Department of Treasury and fulfill their missions to build strong, sustainable, local private sector economies”.

Oweesta (www.oweesta.org) is a national Native CDFI intermediary.  With over ten years of experience, Oweesta helps build strong Native institutions and programs through professional services designed to build local capacity and provide tools for Native community development.  Oweesta’s primary programs include 1) Capitalization of Native CDFIs and 2) Training, Technical Assistance and Consulting.Contact: 
Jon Panamaroff, Executive Director & Senior Vice President
303-774-8838
jon@oweesta.org ###
 
A special thank you to our 2010 Native Convening Sponsors