OKMULGEE, Okla. – The Muscogee (Creek) Nation has just launched a new program to boost economic growth and job creation within the reservation. The program, known as the Muscogee Nation Capital Fund, is worth over $20 million. According to their press release, the program involves three key elements:
- the Loan Participation Program, where small businesses can access loans backed by the Muscogee (Creek) Nation,
- the Collateral Support Program, where the Nation will provide collateral assistance to businesses to help them secure loans, and
- the Equity Direct Program, which will provide direct equity investments to small businesses, with focuses being on startups and starting long-term growth in the Muscogee (Creek) Nation.
“The launch of the Muscogee Nation Capital Fund represents a transformative step in the ongoing effort to build a diverse and resilient economy for our citizens, ” said MCN Principal Chief David Hill. “This initiative is an investment in the future of our people—helping entrepreneurs, small businesses, and startups thrive while honoring our cultural values of collaboration and mutual support.”
These statements were echoed by Robby Deere, CEO of the Mvskoke Loan Fund, who is pleased with how the Muscogee Nation Capital Fund will allow the fund to keep helping the people of the Muscogee (Creek) Nation.
In comments to Mvskoke Media, Deere stated, “The Mvskoke Loan Fund now has an increased ability to attract and retain larger businesses as clients and reduce the number of referrals to other outside lenders. Thereby creating a larger tribal economy, where one citizen’s business success opens possibilities for another.”
“It is exciting to see a multi-year vision come to fruition, and see the first deal come to a close,” Deere stated. “This first loan would have been impossible without all of the hard work from our team at Mvskoke Loan Fund, Muscogee (Creek) Nation tribal leadership, the National Council, and the hard work of several key departments.”
The Muscogee Nation Capital Fund would not have been possible without help from the American Rescue Plan Act (ARPA), which was designed to help the U.S. economy recover from the COVID-19 pandemic. The passage of ARPA reauthorized the State Small Business Credit Initiative (SSBCI), a federal program that improves access to capital for small businesses. This program allows Tribal Nations more control over loan, investment, and support to underserved businesses.
Mvskoke Media reached out to Zechariah Harjo, Secretary of the Nation, for comment on the new program and has not received a response as of presstime.
For more information on the work that Mvskoke Loan Fund does, visit their website at https://www.mcncapitalfund.com/.
