• detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

  • detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

  • detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

  • detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

  • detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

  • detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

  • detail image of project

    $2.8MM Loan for Construction of New "Trading Post" for Red Lake Band of Chippewa Indians

Red Lake Retail, Inc.

Red Lake Nation in Minnesota is home to the Red Lake Band of Chippewa Indians—a 10,000 member tribe which has been in existence since the 17 century. The Red Lake Retail Trading Post is owned and operated by the Tribe and has served its members on reservation since 1986.

Clearinghouse CDFI purchased a $2.81MM participation in a $6.5MM loan from Native American Bank. This loan to the Red Lake Band of Chippewa Indians facilitated a new, expanded Red Lake Retail Trading Post. The loan was guaranteed by the U.S. Department of Agriculture

Additional project funds were sourced through a New Markets Tax Credit structure involving:

Once complete, the 27,000 sq. ft. Red Lake Retail Trading Post will increase jobs and provide more products for the Red Lake community.

Download the PDF: Just Funded – Red Lake Retail

“The Red Lake Nation appreciates Clearinghouse CDFI providing the gap financing for our new trading post, fueling station, laundromat and retail space located on our Red Lake Reservation, serving the Red Lake Band of Chippewa Indians. Clearinghouse CDFI enthusiastically came to the table with a spirit of collaboration with Native American Bank and all the private, public, government, nonprofit, and tribal entities involved to make possible this much needed project. Clearinghouse CDFI’s experience in supporting projects in Indian Country was very evident and added value to our endeavor.”
- Harvey Roy III, CEO, Ogaakaaning Enterprises
Financing Provided:
$2.8MM Construction Loan
Location:
Red Lake, MN
Impact:
Increase jobs & offer a wider selection of products for Red Lake Community
Purpose:
Construction of New "Trading Post" for Red Lake Band of Chippewa Indians
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