The Chehalis Tribal Loan Fund has received $500,000 in financial assistance funding to “provide financial literacy and empowerment resources, along with financial services” to members of the Chehalis Tribe, Sen. Patty Murray announced last week.
According to Murray, the funds are part of more than $12 million the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund awarded to 14 financial institutions in Washington.
“We can’t have a strong economy if communities are being left behind — that’s why this funding for CDFIs is so crucial. These institutions help people buy homes, start businesses, and grow their communities by providing financial services to people who are at risk of being overlooked,” Murray said in a statement. “I’m pleased to see federal funds I secured as Appropriations chair coming back to Washington state, to help these institutions continue and expand the many services they provide. From making housing more affordable to providing loans for small business owners, to connecting entrepreneurs and families alike with financial training they need to succeed — these investments are going to open so many doors of opportunity for Tribes, low-income communities, and people across Washington state."
According to Murray, the funds come from the fiscal year 2023 and 2024 appropriations and will help the institutions grow while serving low-income and Tribal communities in the state.
