Written by The Wolf Point Herald
The Native American Development Corporation was organized in 1996 to:
•Assist reservation-based community development corporations to become sustainable economic and social resources.
•Create and administer loan funds to finance Indian entrepreneurs and economic infrastructures on reservations.
•Provide technical and training assistance to Indian-owned businesses.
Since 1996, NADC has partnered with various federal and private resources to develop a revolving loan fund providing loans to Indian-owned businesses. Micro loans are available, up to $25,000 and intermediate loans up to $250,000 are available.
In 2004, NADC was certified as a Community Development Financial Institution becoming eligible for Department of Treasury programs to enhance lending capabilities. Pre- and post-loan technical assistance is also provided to clients.
NADC Procurement Technical Assistance Center is also providing technical assistance and training services to tribal- and individual-owned businesses in government contracting through an agreement established with the Defense Logistics Agency in 2009 expanding the service area to North Dakota, Wyoming and South Dakota tribes.
In 2012, NADC began to provide business plan and feasibility analysis services to tribal projects through a grant with the Rural Development Agency.
Currently, NADC is implementing a housing program to build on reservations and urban areas including financing programs in cooperation with federal agencies and lenders.
NADC and NADC PTAC continue to provide technical and resource assistance to American Indian-owned businesses in the areas of capital, partnerships, marketing and federal contracting, respectively.