USDA provides loan fund to Northwest Native Development Fund
COULEE DAM — The Northwest Native Development Fund (NNDF) has been granted access to a $20 million Community Facilities loan fund from USDA Rural Development, and a $2 million grant from Northwest Area Foundation to support tribal community facilities projects.
“I’m thrilled to partner with Craft3 to help NNDF gain access to over $20 million dollars in long-term facilities financing [that} could fill a huge hole in our community,” said Ted Piccolo, NNDF executive director. “As an example, with this new type of funding, the NNDF could have funded the recently completed Coulee Medical Center project. That is the scope of project we will be actively seeking out.”
The NNDF already provides loans for business startups and equipment financing. This new opportunity focuses on a different financial need in our area – developing community facilities. Funds from the program, which was announced in October, can be used to purchase, construct or improve essential community facilities, purchase equipment and pay related project expenses.
Some examples of essential community facilities include:
• Healthcare facilities such as hospitals, medical clinics, dental clinics, nursing homes or assisted living facilities
• Public facilities such as town halls, courthouses, airport hangars or street improvements
• Community support services such as child care centers, community centers, fairgrounds or transitional housing
• Public safety services such as fire departments, police stations, prisons, police vehicles, fire trucks, public works vehicles or equipment
• Education services such as museums, libraries or private schools
• Utility services such as telemedicine or distance learning equipment
• Local food systems such as community gardens, food pantries, community kitchens,
“Lack of capital in tribal communities means a lack of opportunity – and that lack of opportunity has helped create generational, persistent poverty.” said Adam Zimmerman, president and CEO of Craft3. “We’re proud to be partnering with USDA Rural Development and the Northwest Area Foundation on Uplift America to make critical investments that improve quality of life, reduce poverty, improve access to capital, and create jobs.”
Said Mario Villanueva, Washington state director for USDA Rural Development, "These investments will lift the economic prospects of our communities and create jobs, especially in those areas that have not yet realized their potential for growth,” Villanueva said. “Thanks to this financing, USDA Rural Development's local partners will have the resources to build, create and invest in the essential community facilities and services, like public safety, healthcare and education.”
Community Facilities loan funding from the Uplift America program will be available at the beginning of 2017. For more information regarding community facilities loan opportunities, contact Ted Piccolo at the Northwest Native Development Fund, 509-634-2624.
The Northwest Native Development Fund seeks to foster economic and financial independence for native people by assisting in the development of personal assets through financial and entrepreneurial education as well as providing access to capital through creative lending products.
NNDF will promote this mission by increasing home ownership and economic opportunities.
Rodney Harwood can be reached at 509-765-4561 ext. 111 or businessag@columbiabasinherald.com.