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- By Native News Online Staff
The Alaska Federation of Natives, the largest statewide Native organization in Alaska, announced yesterday that the U.S. Treasurer Chief Lynn Malerba (Mohegan) and representatives from the Office of Tribal and Native Affairs will make their first official trip to their state this month.
The visit is planned for Tuesday, August 27, to both Anchorage and the village of Chickaloon, roughly 80 miles Northeast of Anchorage.
The trip follows the Treasury Department’s approval of up to $83 million in State Small Business Credit Initiative (SSBCI) funds for a consortium of 125 Alaska Tribes. The funds are anticipated to catalyze as much as $830 million in the next ten years additional private sector investment across the state and in Native-owned businesses, according to a press release from the Treasury Department.
“Today’s announcement reflects success that is only possible when federal agencies listen to Tribal Nations to understand their unique needs and incorporate their feedback in developing program policy and guidance,” said Malerba in a statement. “Through the flexibility of the consortium model, these Tribes will benefit from the historic opportunity that these resources for small businesses present to Indian Country. These funds will serve some of the most rural populations in the United States, creating jobs and expanding capital access for Tribes across Alaska.”
The State Small Business Credit Initiative is a $10 billion program designed to cultivate small businesses and entrepreneurship by providing access to capital and technical assistance.
“The SSBCI program is a historic opportunity for Tribes and village corporations to access lending to ensure that those who have always been here, will always be here,” said Joe Nelson, AFN Co-Chair, in a statement.
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