09.20.05

Burr Announces $272,000 Grant for Native Americans

Funds to provide for increased community development

Senator Richard Burr today announced $272,000 in Native American community development grants for The Sequoyah Fund in Cherokee and Lumbee Revitalization & Community Development in Lumberton. The funds were made available by the Native American Community Development Financial Institutions Assistance Program.

"It's important to North Carolina's economy to increase Native American access to financial institutions and community development opportunities," said Senator Burr. "These funds will help provide North Carolina Native American communities with increased housing and business opportunities, thereby strengthening our state."

The Sequoyah Fund, a non-profit corporation promoting the welfare of the Eastern Band of Cherokees, will receive a grant of $140,000 to purchase accounting and loan management software, update its loan policies and procedures and cover the cost of financial services staff training.

The Lumbee Revitalization and Community Development Corporation (LRDCD) assists Lumbee Tribal Members and other Native Americans living in Robeson County to acquire affordable housing and develop small businesses. The LRDCD grant of $132,000 will be used to purchase loan management software, train staff for loan portfolio management and for long-term financial planning.