White Earth Investment Initiative

Business loan fund the White Earth Investment Initiative engages in community economic development services, targeting residents of the White Earth reservation and other native americans statewide. In 2022, 18 commercial loans totaling $5,179,548 were provided for native community businesses and facilities. 317 jobs were retained with these funds and 40 new jobs were created.

Consumer loan fund 234 consumer loans totaling $937,113 were closed in 2022. The vast majority were native american clients living within the boundaries of the White Earth reservation. Common uses of funds included debt consolidation or payoff of high rate loans, car repair or purchase, christmas and back-to-school loans. Consumers may face barriers to mainstream credit and may have too much debt, have debt that is poorly structured or may have problems managing their debt; favorable terms may include lower-than standard down-payment, higher loan-to-value ratio, etc. They also originated 1 mortgage loan in 2022 in the amount of $125,000.

Development services weii offers homebuyer education, housing counseling and taxpayer assistance to residents of the White Earth reservation and surrounding communities to support financial literacy and access to affordable financial products and services and homeownership. In 2022, 562 federal tax returns were filed and 459 Minnesota state returns were filed free of charge through the tax preparation program. This was an increase over 2021. In 2022, 20 household received classroom-instructed homebuyer eduaction and 8 households received housing counseling, helping to prepare them for asset-building through homeownership. All service outcomes showed increase over 2021.

Other rental income