The Wigamig Owners Loan Fund, Inc. (WOLF) recently received a $141,350 grant from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund). The awards are being made through the fiscal year 2011 round of the CDFI Fund’s Native Initiatives Financial Assistance and Technical Assistance component, the Native American CDFI Assistance Program (NACA Program). The awards will assist financial institutions with a primary mission of serving Native communities to increase their lending services and financial products, as well as to build their own internal capacity to serve their target markets.

Wigamig Owners Loan Fund, Inc. is a 501 (c)(3) non-profit corporation located in downtown Lac du Flambeau. The mission of WOLF is to provide tribal members with access to mortgage lending opportunities that include home improvement and down payment assistance loans, as WOLF seeks to encourage home ownership among tribal members in and around the Lac du Flambeau Indian Reservation. For more information, contact Fern Orie, Wigamig Owners Loan Fund, Inc. Executive Director at 588-1600 or fern.orie@wigamig.org

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Submitted by: Donald Duncan, Chairman Wigamig Owners Loan Fund, Inc.

WOLF is an emerging Community Development Financial Institution (CDFI) and NiiCaP is a US Treasury Certified CDFI. NiiCaP has made loan capital available to WOLF to finance several more home improvement projects which could include new windows, new decks, new roofs, new siding, and almost any remodeling project on a home owned by a LDF Tribal member.

WOLF extends loans at a competitive interest rate for terms of up to 4 years. Fern Orie, Executive Director of WOLF said “Thanks to our clients WOLF has been so successful in its efforts to enhance the homes of LDF Tribal members that there was a real need to acquire additional loan capital to enable us to close more loans. Fortunately NiiCaP understood our need and agreed to provide additional loan capital.”

John Smith, NiiCaP Executive Director, said “NiiCaP provides Technical Assistance, Training, and Loans for Tribal Members on the Lac Du Flambeau, Mole Lake, and Menominee Reservations to help start or expand businesses. These efforts to start or expand businesses have positively impacted the local economy but there is also a need for finance in the housing sector and we are extremely happy to partner with WOLF to help meet this demand.”

To learn more about WOLF and how you can access it housing loan products and services please call Fern at 715-588-1600 or e-mail fern.orie@wigamig.org To learn more about NiiCaP and how you can access its business loan products and services please call Pamela Boivin at 715-799-7806 or e-mail Smith at edfpro@yahoo.com.

Two Native Community Development Financial Institutions (CDFI) are now located in the same building in downtown Lac du Flambeau, WI. NiiCaP provides financing and assistance to small businesses and entrepreneurs while Wigamig provides similar services and financing to home owners.

David Fleming, Manager of Developmental Services for NiiCaP whose office is in Lac du Flambeau says, “We hope that by working from the same location we can increase our outreach efforts that result in more wealth and asset building activities in Lac du Flambeau.”

Fern Orie, Executive Director of Wigamig says, “This is an opportunity for both organizations to capitalize on shared missions and shared resources.”