Haa Aaní CDFI Program Awarded $1 Million through Intermediary Relending Program
Fund focuses on small business lending in Southeast Alaska
The Haa Aaní Community Development Fund, Inc. (HACDF) was awarded $1 million under the U.S. Department of Agriculture (USDA) Rural Development Intermediary Relending Program.
HACDF is a nonprofit Community Development Financial Institution (CDFI) that was founded by Haa Aaní, LLC in February 2012. HACDF focuses on:
- Small business lending in Southeast Alaska
- Business planning courses, entrepreneurial and small business training, and one-on-one technical assistance
- Technical resources, funding and mentoring
“We see our partnership with HACDF as an opportunity to help small business in Southeast Alaska be vibrant,” said Renee Johnson, USDA business program director.
The $1 million under the USDA Intermediary Relending Program is one of three Alaska programs and the largest in Alaska. This is the first public/private partnership for HACDF, which was originally seeded with $500,000 from Haa Aaní, LLC and Sealaska in 2012.
“HACDF is focused on building thriving communities in the region,” said HACDF Executive Director Ed Davis. “We are excited about this partnership; it aligns with our mission of building resilient communities and opens up access to capital for the region. The CDFI has now grown to nearly $3 million, with much of the funding coming from outside partners such as USDA, who share our mission of promoting sustainability in the region.”
HACDF serves communities in Southeast Alaska, targeting entrepreneurs and business owners. HACDF’s policy is to serve all stakeholders. Sustainability has a better chance of success when everyone benefits from businesses that are strong and contribute to the local economy.
The HACDF is a public benefit organization tasked with providing alternative financing structures to Southeast Alaska communities to spur economic development and meet the needs of those who might not qualify or may not have access to traditional financing. We serve Southeast rural communities through issuance of capital in the form of small business and micro-loans, and developmental services (technical assistance) that will improve the economic well-being of Native communities.