The COVID pandemic has reinforced for communities worldwide the importance of resilience and self-reliance. For tribal communities, these goals have been obvious for millennia–but increasingly beyond reach. Over the past four hundred years, tribal communities in North America have systematically had their economies undermined through expropriation, uprooting, resettlement, and colonization. The result is the worst levels of poverty, ill health, illiteracy, and other social challenges in the country. To restore prosperity, tribal communities must diversify, strengthen, and expand their own businesses. Over the past three years, the Northwest Area Foundation has been promoting their ideas in eight tribal communities. This series is designed to share the building blocks of “Vibrant Tribal Economies” to a larger audience.
The deadline for Tribes to submit a Notice-of-Intent (NOI) to participate in the State Small Business Credit Initiative is AUGUST 16, 2021.
We are hosting an information and Q&A session on Wednesday, August 4 at 1:00 pm. Register HERE!
What is SSBCI? SSBCI provides states, territories, Washington, D.C., and Tribal governments (Eligible Jurisdictions) funding for 1) small business financing programs and 2) technical assistance to small businesses applying for SSBCI and other government programs. Small business financing programs that SSBCI funds may be used to support include capital access programs, loan participation, loan guarantee, collateral support, and venture equity programs.
Notice of Intent: Completing an NOI does not obligate a Tribe to then submit the full application due in December. However, if Tribes do not complete the NOI by the deadline, they will not be able to participate in the SSBCI program. The NOI is a short form. It asks if you intend to submit a stand-alone or joint application, but you may amend your response for the full application.
Regional Effort: We at ATNI-EDC understand that some ATNI Member Tribes may not have the interest or capacity to stand-up their own program. We are forming a working group to create a regional effort that will leverage the financial service and technical assistance expertise in Indian Country. This is a great opportunity to continue to build a robust private sector in Indian Country and build and support Tribally owned businesses. There may also be an opportunity to use these resources to support some Tribal enterprises.
Info and Q&A Session: This session is designed to answer questions around the SSBCI program and introduce the regional effort to effectively deploy these resources. Pilar Thomas of Quarles & Brady has been closely following the SSBCI opportunity and will join us for this call. We would love to see each ATNI member Tribe submit the NOI prior to 8/16/21.
On March 11, 2021, President Biden signed The American Rescue Plan Act, which provided $10 billion to fund the State Small Business Credit Initiative (SSBCI). SSBCI will fund state, territory, and Tribal government small business credit support and investment programs. Tribes must submit a Notice-of-Intent to participate in the program by July 30, 2021. You can access the Notice of Intent form by clicking here.
Concurrently, we are forming a working group to ensure that all Tribes in the ATNI region are able to participate in the SSBCI Program. The working group will provide recommendation to form a regional effort to disburse SSBCI Funds as loans to small businesses and formalize a technical assistance referral network. If you are interested in participating in the working group, please contact Amber at firstname.lastname@example.org by Friday, July 16, 2021.
ATNI-EDC opened a survey aimed to gather information about infrastructure needs and priorities for ATNI Member Tribes. In the past six months, there has been a Presidential and Congressional transition and passage of the H.R. 1319 American Rescue Plan Act of 2021 under the Biden administration. There is currently pending consideration of national infrastructure legislation and the White House American Jobs Plan. As a result of these actions and pending policy, now is a key time and opportunity to Thank you for taking your time complete this survey. It should take around 10 minutes of your time. Please respond by Friday, July 16, 2021. Click here to access the survey.
ATNI-EDC is growing our team! We are seeking a Loan Officer/ Manager, Economic Development Program Manager, and an Administrative Assistant. We offer a generous benefits package. Positions are based in Portland, Oregon. Visit https://atniedc.com/jobs for more information!
SAVE THE DATE: The bi-annual ATNI-EDC Economic Summit will take place November 3-5 in Portland, Oregon. We’re planning a hybrid model, with content available both in-person and online. Visit https://atniedc.com/events for updates!