Oweesta Corporation Selected for the Community Navigator Initiative

Oweesta Corporation Press Release

Following a hub-and-spoke model, Oweesta and twenty-seven Native Community Development Financial Institutions (CDFIs) partners will provide training and technical assistance to Native businesses and entrepreneurs thanks to a $5M U.S. Small Business Administration grant.

Longmont, CO – Oweesta has been awarded one of eight Tier-1 national grants of $5 million as part of the U.S. Small Business Administration (SBA) Community Navigator Pilot Program aimed at reaching small businesses for stronger economic recovery efforts. Following a hub-and-spoke model, Oweesta is partnering with twenty-seven Native Community Development Financial Institutions (CDFIs) to serve Native businesses and entrepreneurs on reservations and urban environments across seventeen states.

Acting as a “hub,” Oweesta will serve as a centralized, lead organization and leverage our long-standing relationships with grassroots Native CDFIs as “spokes.” Oweesta will be partnering with the regional CDFI, MoFI, to provide training and peer-to-peer learning opportunities for Native CDFIs participating in the program. Through this model, government resources will be more effectively distributed to reach small business owners and entrepreneurs. Research shows that the amount of Native-owned business is scarce in today’s market due to structural barriers Native businesses and entrepreneurs face in business ownership and creation. Rooted within the communities, Native CDFIs are instrumental in reaching underserviced Native communities and providing culturally relevant, economic development services.

Read the Full Article Here