A Strategy for Economic Parity
When we began our work, less than 1% of all businesses on the Reservation were owned by Native Americans. However, 75% of the Reservation’s population is comprised of Native Americans. Since then, we have helped hundreds of Native American entrepreneurs start or expand a business. We began by making $500 loans, and today we have dispersed over $10 million in loans.
Creating Community Impact
Through the implementation of our strategic model, Four Bands has seen a transformation in the economic landscape on Cheyenne River and beyond. The following achievements are evidence of this transformation. Since inception in 2000 through 2015 year-end, Four Bands has:
- Provided 6,644 customers with technical assistance.
- Supported hundreds of individuals in various stages of business development through the deployment of 1,051 loans totaling $9,987,308.
- Approved 671 credit builder loans so that recipients could achieve an average credit score increase of 65 points within one year.
- Created or retained 597 jobs.
- Graduated 445 individuals from our business-training course.
- Increased financial literacy of 810 individuals through training.
- Connected 183 youth entrepreneurs to local internship opportunities, 76% of whom seek post-secondary education.
- Committed $422,488 so that 209 matched savings program participants could reach a savings goal for homeownership, education, or business.
- Electronically filed 2,985 tax returns to produce a total federal refund of $5,315,345 to our community.
- Leveraged our investments at an average of 14 to 1; for every dollar invested by a funder, Four Bands and the entrepreneur invests $14.