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Mvskoke Loan Fund receives $540K in awards
MLF CEO calls award ‘another win’ for the Nation
OKMULGEE, Oklahoma — The Mvskoke Loan Fund received awards from The United States Department of Treasury, Community Development Financial Institutions (CDFI) Fund – Native American Community Assistance Program in the amount of $540,000.
The NACA Program generates economic opportunity for Native communities by supporting the creation and expansion of Native CDFIs with Financial Assistance (Base-FA) and Technical Assistance (TA) awards.
This allows Native CDFIs, such as MLF, to help create jobs, establish or improve affordable housing and provide accessible financial services and counseling within their communities.
The NACA Program is funded annually from the United States Congress, awards are made each year through a competitive process that spans several months.
MLF CEO Christopher Coburn calls the awards to MLF ‘another win’ for the Nation.
Coburn said winning the competitive award shows that MLF is being recognized as a leader among Native CDFIs and further illustrates growth as a financial institution to better serve MCN citizen clients.
“That brings us to over $828K in awards heading into FY21 with other applications still pending,” he said. “Our best year ever already.”
MLF will dedicate $440,000 to lending capital and $100,000 to lending capital and TA funds focused on Okfuskee County.
For more information about Mvskoke Loan Fund, contact: 918-549-2603, or visit: www.mvskokeloanfund.org.