January 6th, 2019
I hope you all had a great holiday season. We have officially hit our one year anniversary of being open for business. What a great year it has been!
We have hit some major milestones and went above and beyond our goals. Some of the milestones I want to highlight are:
-As of 12/31/2019 we have closed on nearly $2 million dollars in loans.
-Akiptan has around $1.4 million dollars currently in our loan pipeline that we are reviewing.
- We’ve received applications from people and businesses from 20 different tribal nations.
- We also got to add to our staff. Melissa was hired as a full time loan officer in August and has been a great addition to Akiptan.
One thing that has stood out to me and really drives me forward is a short survey that we completed this fall. We conducted a short survey that gathered the needs of people who needed more money than what our limits currently allowed. We recorded an unmet need of $15 million just within that brief survey, the actual unmet need for financing in Indian Country is much, much larger. While we have been able to bridge the gap for many, there are still many producers and agribusiness owners out there that need the financing that we offer.
Our goals for 2020 are to continue expanding and growing to keep meeting our clients’ needs. Along with growing our loan capital pool, 2020 will be spent developing new loan products and more impact tracking.
While we are based in Eagle Butte, SD, this job and our loan products have allowed me to connect and help great people all over Indian Country.
This past year was a year full of learning and growth and I’m looking forward to serving Native producers and agribusiness in 2020. It has been a pleasure so far and I’m thrilled to see where this next year takes us. Exciting things to come!
Akiptan is a Native CDFI that focuses solely on financing Native Americans in agriculture. We broadly define agriculture and offer unique financing packages that are designed to meet the needs of Indian Country. If you have any questions please contact our office at 1-605-964-8081 or email us at email@example.com.