Native CDFI Network Applauds House Appropriations Subcommittee Funding Bill

Published June 5, 2019

WASHINGTON — The Native CDFI Network, a national association of Native community development financial institutions (CDFIs) that works to increase access to capital in Native communities applauded the House Appropriations Subcommittee on Financial Services approval of the Fiscal Year 2020 funding bill.

The Native CDFI Network, a national association of Native community development financial institutions (CDFIs) that works to increase access to capital in Native communities applauded the House Appropriations Subcommittee on Financial Services approval of the Fiscal Year 2020 funding bill.

“The Native CDFI Network applauds the House Subcommittee on Financial Services’ approval of the 2020 funding bill. The bill includes a sorely needed increase in appropriations for the Native American CDFI Assistance (NACA) program. The NACA program is a great investment in rural and Native American economies. While Native CDFIs have continued to grow and serve the underserved and unbanked Native populations across the country, NACA appropriations have remained stagnant for years. This proposed increase is greatly needed and will result in increased business loans, greater access to capital, and improved economic opportunities in Indian communities. I would also like to thank our Native CDFIs who have been fighting hard for this increase for years,” said Pete Upton, Board Chair of the Native CDFI Network, and also the Executive Director of Native360 Loan Fund in Nebraska.

The funding bill will move to the full House Appropriations Committee before it can be considered by the entire House of Representatives. The Senate is expected to introduce their version of the FY 2020 funding bill soon.

Robin Danner, Chairperson of the Native CDFI Network’s Policy Committee added, “we appreciate the bipartisan support for this much-needed increase in NACA appropriations. We call on the Senate to echo this bipartisan leadership and fully support this investment in Native economies.”

A bipartisan group of Members of Congress wrote a letter requesting appropriations of at least $20 million for the NACA program. The letter was signed by Representatives Don Young, Gwen Moore, Deb Haaland, Greg Gianforte, Sharice Davids, and Ruben Gallego.

Earlier in May, the House Appropriations Committee approved the Fiscal Year 2020 Interior-Environment Funding Bill. The bill included funding for the Department of Interior’s Indian Loan Guarantee Program in the amount of $12.8 million. “We are encouraged by the House Appropriations Interior and Financial services bills. Our members utilize both the BIA Loan Guarantee and the NACA programs to make capital available in Native communities. We encourage the Senate to fund the NACA and BIA Loan Guarantee programs at the levels in the House Appropriations bills,” said Upton.