Three Native Community Development Financial Institutions in Washington Awarded $1.1 Million in State Grants
Three Native community development financial institutions (CDFIs) in Washington have been awarded a total of $1.1 million in state grants to expand business financing and technical assistance for entrepreneurs facing barriers to conventional credit.
Awards and Recipients
- Chehalis Tribal Loan Fund was awarded $633,686.
- Pacific Northwest Tribal Lending was awarded $384,738.
- Táala Fund was awarded $81,474.
These awards are part of $4.36 million distributed to 11 lending organizations through the Washington State Department of Commerce’s Equitable Access to Credit program.
Chehalis Tribal Loan Fund
Based in Oakville, Chehalis Tribal Loan Fund plans to use its 2026–2027 award to expand business lending and assistance with business planning, financial management, and loan readiness, according to Executive Director Tamra De Nova. During its previous funding period, the lender made 19 small business loans totaling more than $534,000, exceeding its initial goal.
Pacific Northwest Tribal Lending
Pacific Northwest Tribal Lending will use its $384,738 award to support Native-owned businesses as it marks its 20th anniversary, Executive Director Nancy Jordan stated in an email. The state investment creates a new source of revolving loan capital for Native CDFIs.
Táala Fund
Nora Mix, Executive Director of Táala Fund (a Native community development financial institution serving the Quinault Indian Nation and surrounding community), will use the second consecutive award for small business loan capital and technical assistance. She expressed enthusiasm about witnessing entrepreneurs turning their ideas into reality, emphasizing the importance of cultivating and believing in people.
Equitable Access to Credit Program
Established in 2022, the Equitable Access to Credit program is financed through business contributions exchanged for dollar-for-dollar state business and occupation tax credits. At least 65% of annual grant dollars support Native CDFIs or recipients serving or investing in rural counties. Businesses can contribute through December 31, receiving credits of up to $1 million per company annually, subject to an $8 million program cap.