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 17th 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:
- Travois (NMTC) and PNC Bank (NMTC Purchaser)
- Midwest Minnesota CDC (Lender)
- First Nations Oweesta Corporation (Bridge Lender)
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