NAC and LBCDE: A Double New Market Tax Credit Success

By Emily Sarah Hersh

September 12, 2012

As Indian Country moves beyond grant funding to self-sustaining economic development, tribes must increasingly utilize a complex array of financing tools in a ‘tribal finance tool’ in order to achieve success. This paper describes the innovative application of one of those tribal finance tools—New Markets Tax Credits (NMTC) that is beginning to show significant, positive results in Indian Country

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Native American Capital (NAC)

Native American Capital, LLC (NAC) is a provider of full-range consulting services to the Native American business community, both on and off reservations. NAC is committed to providing innovative, customized solutions to the challenges that our clients face in all of their business and economic development ventures. To learn more about NAC, please select one of the topics on the top of your screen.

GCI Communication Praises LBCDE for TERRA Broadband Project

GCI Communications Corp has congratulated Lower Brule Community Development Enterprise (LBCDE) for its $9 million investment in the TERRA Project.  The TERRA project is a large, multi-phase project to bring high speed internet services to remote Alaskan Native Villages.

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NAC Client Recognized for Using Tax Credits to Create Jobs

September 8, 2012

The Tribal Chief of the  Mississippi Choctaw Indians formally recognized NAC's client the Lower Brule Community Development Enterprise for its successful use of New Market Tax Credits (NMTC) to bring a successul manufacturing company to the Choctaw TechParc.  Through its work with the LBCDE, NAC facilitated using a $9 million NMTC allocation to bring KemPosits manufacturing company to the tribe.  

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Financial Times features NAC client and Managing Director in Native American business report

May 22, 2011

NAC client the Delaware Nation of Oklahoma was featured prominently in a Financial Times article illustrating the lack of available funding to businesses located in Indian Country.  In the article, titled "Lights go out for Native American Hopes," the FT describes the Delaware Nation's inability to secure financing for a tribally owned lighting manufacturing business created to increase employment opportunities for tribal members.  Delaware Nation President Kerry Holton is quoted describing banks' unwillingness to lend into projects necessary for a functioning economy, and the uselessness of the tax-exempt bond allocation program.  Kerry explains, “Banks won’t take any risk whatsoever with us.  Unless you have twice as much in assets than what you are loaning, they are not interested”. 

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