The Indigenous Futures Fund—part of the Initiative for Inclusive Entrepreneurship (IIE)—and the Cheyenne and Arapaho Community Development Corporation (CACDC)—a Community Development Financial Institution (CDFI) serving Native entrepreneurs—partnered on a first deal for both. Both entities, newly launched in 2024, disbursed capital to Commercial Furniture Refinishers, a small business owned by Cheyenne and Arapaho citizen Marshall Franklin.
“I couldn’t have asked for a smoother process for our first loan and first collaboration with the Indigenous Futures Fund,” said Jordan Adams, interim CEO of CACDC. “After spending almost two years working for CACDC, I know there is a huge need for Native CDFIs in our Indigenous communities.”
CACDC serves the Cheyenne and Arapaho Tribes and other Native communities.
IIE harnesses the power of public-private collaboration to support the U.S. Department of the Treasury’s goal of reaching socially and economically disadvantaged small businesses through its $10 billion State Small Business Credit Initiative (SSBCI). As part of this effort, the Indigenous Futures Fund was designed to boost the capacity of Native CDFIs and other Native financial intermediaries.
SSBCI offers federal incentives to attract more resources, but includes strict matching requirements to access those funds. While many Tribes have used their own assets to match SSBCI funds, many need supportive investors to maximize the program’s potential to serve more Native entrepreneurs.
CACDC, a nonprofit and commercially focused, Tribally owned CDFI approved by the U.S. Treasury, provides financial or technical assistance tailored to the needs of Native entrepreneurs.
Both the Indigenous Futures Fund and CACDC sought trusted partners to bring these federal dollars to Indian Country.
“I am grateful and proud that the Indigenous Futures Fund can help flow these federal dollars to Indian Country in partnership with CACDC,” said Ted Piccolo, the senior director of Indigenous Futures at Mission Driven Finance.
Capital from the Indigenous Futures Fund and CACDC enables Marshall to purchase a 28-foot box truck to facilitate Commercial Furniture Refinishers’ moving services and to pay off more expensive debt.
“Not everyone is eligible for a traditional bank loan,” said Jordan. “That’s where we step in to help so Native entrepreneurs still have the opportunity to start a new business or have access to extra capital needed for their current business.”
Partnerships like the one between the Indigenous Futures Fund and CACDC can create meaningful opportunities for Native small business owners, fostering long-term economic stability and growth in Indian Country.
Disclosure: The experiences of Jordan Adams (CACDC) are shared above. No compensation was provided in connection with the experiences shared. Due to CACDC’s association and partnership on the fund, a conflict of interest is present.
