The Alaska Federation of Natives Navigator Program is excited to announce that U.S. Treasurer Chief Lynn Malerba (Mohegan) and representatives from the Office of Tribal and Native Affairs will make their first official trip to Alaska on Tuesday, August 27, 2024. In addition to meetings in Anchorage, a site visit to the village of Chickaloon is planned.
The trip follows the historic launch of the Alaska Tribal SSBCI Consortium, which the AFN Navigator Program created in 2021, and asked the Small Business Development Center (SBDC) at the University of Alaska to administer in 2022. As the largest pool of tribal applicants for State Small Business Credit Initiative (SSBCI) funding in the nation, the Consortium will receive up to $83.1 million over the next 10 years on behalf of its 125 tribes.
“Today’s announcement reflects success that is only possible when federal agencies listen to Tribal Nations to understand their unique needs and incorporate their feedback in developing program policy and guidance,” said U.S. Treasurer Chief Lynn Malerba. “Through the flexibility of the consortium model, these Tribes will benefit from the historic opportunity that these resources for small businesses presents to Indian Country. These funds will serve some of the most rural populations in the United States, creating jobs and expanding capital access for Tribes across Alaska. We look forward to following this announcement with Treasury’s first official visit to an Alaska Native Village at Chickaloon Village.”
The State Small Business Credit Initiative is a $10 billion program designed to cultivate small businesses and entrepreneurship by providing access to capital and technical assistance. The Alaska Tribal SSBCI Consortium will focus on promoting the stability, growth, and success of small businesses in rural Alaska and Native entrepreneurs, but will be open to all qualified borrowers.
“The SSBCI program is a historic opportunity for Tribes and village corporations to access lending to ensure that those who have always been here, will always be here,” said Joe Nelson, AFN Co-Chair.
AFN’s Regional Navigators played a crucial role in assisting 125 Alaska tribes secure their SSBCI formula allocation during the height of COVID-19. Furthermore, the AFN Navigator Program successfully advocated for the University of Alaska to permit its Small Business Development Center to administer the Alaska Tribal SSBCI Consortium. The SBDC also manages the State of Alaska’s SSBCI allocation.
“When the American Rescue Plan Act was signed by President Biden, AFN resolved to capture as much of the bill’s post-pandemic funding as possible for the Alaska Native community,” said Nicole Borromeo, AFN Executive Vice President and General Counsel. “Our Navigators worked closely with the University’s SBDC to help almost 130 tribal governments access SSBCI resources for the first time. We’re proud of that work and are excited to see what the nearly $85 million in small business funding will bring to our people.”
“The Alaska Tribal SSBCI Consortium is a creative mechanism to secure federal resources. Quyana to University of Alaska President Pat Pitney and SBDC Executive Director Jon Bittner for their commitment to working together,” said Ana Hoffman, AFN Co-Chair.
We invite you to join us on Tuesday at 10:30AM (AKST), August 6, for a press conference in coordination with the White House to discuss this significant event and its implications for Alaska Natives. Nome Eskimo Community will also be on the call.