USDA Awards a $1 Million Loan to Alaskan Non-Profit
ANCHORAGE, Alaska, October 31, 2014 – USDA-Rural Development Alaska State Director Jim Nordlund today announced that a $1 million loan was awarded to Haa Aaní Community Development Fund, Inc. through USDA-Rural Development’s (USDA-RD) Intermediary Relending Program (IRP).
"Rural Development IRP loan funds will be used to provide capital to Haa Aaní Community Development Fund, Inc. to establish a revolving loan fund. The funds will also be used to provide financial assistance, to establish new businesses, expand existing businesses, as well as create or retain employment opportunities," said Nordlund.
The IRP loan funds will serve the entire region of Southeast Alaska with a focus on rural and Native communities. The intended ultimate recipients include individuals, tribal entities, and for profit organizations who are interested in launching or growing a business in Southeast Alaska to benefit local communities. USDA-RD’s IRP funding is contingent upon the recipient meeting the conditions of the loan agreement.
Haa Aaní Community Development Fund, Inc. is a non-profit Community Development Financial Institution (CDFI) that was founded by Haa Aaní, LLC. Haa Aaní, LLC is a subsidiary of the Sealaska Native Corporation.
This project will benefit Southeast Alaska, which is considered a USDA StrikeForce area.
President Obama’s historic investments in rural America have made our rural communities stronger. Under his leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America's economy, small towns and rural communities.