The Small Business Administration (SBA) has announced the awardees for the 2024 Program for Investment in Microentrepreneurs (PRIME). The Native CDFI Network (NCN) will receive $400,000 to enhance its efforts in supporting Native CDFIs. This funding will be utilized to build the capacity of Native CDFIs through comprehensive training programs, improved access to capital, and in-person gatherings such as regional meetings and NCN’s Annual Summit. These initiatives are designed to strengthen connections among NCN members, investors, and supporters, fostering a robust network dedicated to empowering Native communities.
The strengthened capacity of Native CDFIs will enable them to more effectively support Native-owned businesses, providing crucial resources and guidance. By enhancing their ability to deliver financial services and development programs, Native CDFIs will drive the growth of Native economies, creating jobs, fostering entrepreneurship, and promoting sustainable economic development. This grant will help ensure that Native CDFIs are well-equipped to meet the unique challenges faced by Native communities, ultimately contributing to a more prosperous and self-sufficient future.
Click here to read more about SBA’s PRIME grants.