Native American Bank receives Performance Lender Award
Native American Bank / February 2015
Native American Bank, N.A. was designated by the Office of Indian Energy and Economic Development Division of Capital Investment as a Department of the Interior Performance Lender, announced President and CEO Thomas D. Ogaard. This designation, the highest the Department approves, makes Native American Bank one of only three lenders in the United States to earn this classification in the Loan Guarantee, Insurance and Interest Subsidy Program.
The program is open to federally-recognized American Indian tribes or Alaska Native groups, individually enrolled members of such tribes or groups, or a business organization with no less than 51 percent ownership by American Indians or Alaska Natives. The borrower’s project must be located on or near a federally recognized Indian reservation, or recognized service area, and the project must contribute to the economy of the reservation or service area.
“Native Americans often face the absence of access to financial capital and services, which is a significant impediment towards the realization of self-sufficiency and financial freedom. Our mission is “Native People Investing in Native Communities.” We are proud to have passed the rigorous standards set by the Department of the Interior regarding the Loan Guarantee, Insurance and Interest Subsidy Program,” said Ogaard.