In 2020, DCI offered 18 loan guarantees totaling over $125 million. Lenders working with DCI issued 21 insured loans totaling over $1.2 million. Many lenders are local; many borrowers are first-time borrowers.
Through ILGP, our Division of Capital Investment (DCI) helps American Indian and Alaska Native (AI/AN) tribes and individuals overcome barriers to conventional financing and secure reasonable interest rates, while also reducing the risk to lenders by providing financial backing from the federal government.
(DCI Staff and ILGP Lender at RES 2021).
Eligibility Information
For Lenders
Most lending institutions, including Community Development Financial Institutions, may obtain a guarantee or insurance, provided they regularly make and evaluate business loans. Credit unions are generally not eligible to become ILGP approved lenders. Non-bank lenders (such as insurance companies, leasing agencies, and private wealth funds) that otherwise meet ILGP’s standards are eligible to access guarantees, but not insurance since they are not financial institutions.
For Borrowers
To qualify for a loan through the program, you must be: an individual who is an enrolled member of a federally recognized American Indian and Alaska Native (AI/AN) tribe or group; a federally recognized AI/AN group; or a corporation, limited liability company or other business entity with no less than 51% ownership by federally recognized AI/AN individuals.
Borrowers must have at least 20% equity in the project being financed and the project must benefit the economy of a reservation or tribal service area. Loans may be used for a variety of purposes including operating capital, equipment purchases, acquisition and refinancing, building construction, and lines of credit.
What You Need to Know
Upcoming Events
Success Stories
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PureWild Drink Company in Ojai, California, and Durant, Oklahoma
2021 Loan GuaranteeBusiness: PureWild CoLender: Chickasaw Community BankBorrower: PureWild Co. LLCAmount Financed: Originally $250,000, later increased to $350,000 and a line of creditLocation: Ojai, CA and Durant, OKTribal area: Choctaw Nation of Oklahoma -
Ubetcha Wateca Family Restaurant in Eagle Butte, North Dakota
2015 Loan InsuranceBusiness: Ubetcha Wateca Family RestaurantLender: Four Bands Community Fund, Inc.Borrower: Shari DucheneauxAmount Financed: $40,780Location: Eagle Butte, SDTribal area: Cheyenne River Sioux Reservation -
KN Printing, LLC/Minuteman Press International Franchise in Rohnert Park, California
2014 Loan GuaranteeBusiness: Minuteman Press, Rohnert ParkLender: Native American BankBorrower: KN Printing LLC, Koi Nation of CaliforniaAmount Financed: $197,000 -
Dynamic Homes in Detroit Lakes, Minnesota
Type of Service: Loan GuaranteeDate of Commitment: 2000Lender: Bremer BankBorrower: Winnebago Tribe of NebraskaFinancing Amount: $4,146,000Dynamic Homes has been building successful communities across Indian Country for nearly 50 years. In 2000, Ho-Chunk, Inc., the economic development corporation of the Winnebago Tribe of Nebraska, purchased Dynamic Homes with the support from the Indian Loan Guarantee and Insurance Program.
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Alaska Park, LLC in Anchorage, Alaska
Type of Service: Loan GuaranteeLender: Northrim BankBorrower: Tanadgusix Corp (TDX)Financing Amount: $11,000,000Alaska Park is the only airport valet parking facility in Alaska. It has offered parking services since December 2013. Alaska Park is owned by the Tanadgusix Corporation (TDX), an Alaska Native Village corporation from St. Paul Island, Alaska. TDX built the facility on land that once was an eyesore to the community.
Additional Information
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