FOR IMMEDIATE RELEASE: September 19, 2017
US Treasury Awards $585,500 to Leverage CNHA Loan Fund for Native Hawaiian Families
Kapolei, Hawaii – Today, the U.S. Treasury Department awarded the nonprofit Council for Native Hawaiian Advancement (CNHA), $585,500 to the CNHA Loan Fund for Native Hawaiian families. The grant award is funded from the Native American CDFI Assistance program, for certified Community Development Financial Institutions serving American Indian, Alaska Native and Native Hawaiian communities.
“This is the fifth NACA program award to CNHA since we were certified in 2010,” said Michelle Kauhane, CNHA President and CEO. “These federal resources will flow directly into Native Hawaiian hands to finance tiny homes and micro-enterprise or mercantile business activities.”
Out of 32 applications, 20 CDFI loan funds across the nation received NACA Financial Assistance Awards, totaling $12,964,998 to awardees in 15 states. The CDFI Fund reported that, including the Technical Assistance Awardees, a total of 33 loan funds, 1 credit union, and 4 sponsoring entities were awarded a total of $15,613,767. CNHA was the only NACA CDFI Financial Assistance Award for Hawaii in 2017.
“This is such a great accomplishment for Native Hawaiians,” said Jordyn Danner, CNHA Policy Manager. “As a coalition, this award advances policy priorities that our members have expressed at several of our policy forums — to bring capital to address start-up business, affordable homes including teacher housing, all of which are on our CNHA policy priority list from educators, charter school leaders, homesteaders and small business owners”.
This U.S. Treasury Grant award will leverage a recent national foundation award of $500,000 to CNHA for tiny homes, and a USDA award of $500,000 for rural business, bringing the total to $1.6M in leveraged capital for homes, rentals and business investments to Hawaii in the last year.
“Our team is looking forward to deploying this capital to address priorities from our education, business and homestead policy caucuses,” Kauhane said. “Mahalo to our CNHA board members and Native Hawaiian members that work tirelessly in all of the sectors of community development. As a national intermediary, we look forward to continuing to leverage capital to support our Native Hawaiian families.”
CNHA is a national network of Native Hawaiian Organizations, providing assistance in accessing capital and technical resources, and is a policy voice on issues important to Native Hawaiian communities. Its mission is to enhance the cultural, economic, political, and community development of Native Hawaiians. For more information about CNHA please contact us at 808.596.8155, toll-free at 1.800.709.2642, by e-mail at email@example.com, or at www.hawaiiancouncil.org.
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