Rep. Huffman Secures $500,000 Grant for Organization Supporting Native American Small Businesses

August 25, 2015

Huffman: “SAFE-BIDCO has an enviable record of success…”

WASHINGTON, D.C.—Congressman Jared Huffman (D-San Rafael) today announced that the United States Department of Agriculture (USDA) has approved a $500,000 grant for the State Assistance Fund for Enterprise, Business and Industrial Development  Corporation  (SAFE-BIDCO) to recapitalize its Northern California Native American Revolving Loan Fund.

SAFE-BIDCO provides technical assistance and loans to small businesses owned by Native Americans located throughout Northern California, including in Humboldt, Sonoma, Mendocino, and Trinity Counties. Since its creation in 1981, SAFE-BIDCO has lent more than $100 million in direct loans to California small businesses and farms.

This May, Huffman sent a letter to USDA Secretary Tom Vilsack supporting the SAFE-BIDCO grant, writing that “SAFE-BIDCO has an enviable record of success, given the borrower profile they have been tasked to serve… [and] will make good use of the funds your Department so wisely makes available to support Tribal Businesses.”

“Congressman Huffman has been a supporter of SAFE-BIDCO and an advocate for our mission since his early days in the State Legislature (as a former attorney he uniquely understands the needs of small businesses).  His support has carried forward with his move to Congress,” SAFE-BIDCO President/CEO Mary Jo Dutra said. “Coincidently our first loan with these USDA funds will be in Congressman Huffman’s District.  Kapel Construction, Inc. is a Native American owned company specializing in infrastructure construction and restoration.  They are located in Burnt Ranch, CA in Trinity County.”

The text of Huffman’s letter of support can be found below:

May 27, 2015

Honorable Thomas Vilsack Secretary of Agriculture

United States Department of Agriculture 1400 Independence Avenue, S.W. Washington,  D.C., 20250

Dear Secretary Vilsack:

I write in support of the State Assistance Fund for Enterprise, Business and Industrial Development  Corporation  (SAFE-BIDCO)  grant request for $500,000 to recapitalize its Northern California Native American Revolving Loan Fund to provide technical assistance and loans to small businesses  owned by Native Americans  located in the Northern  California counties of Alpine, Amador, Butte, Calaveras, Colusa, Del Norte, El Dorado, Glenn, Humboldt, Lake, Lassen, Mendocino, Modoc, Napa, Nevada, Placer, Plumas, Sacramento, San Joaquin, Shasta, Sierra,  Siskiyou, Solano,  Sonoma, Sutter, Tehama,  Trinity, Yolo, and Yuba.

SAFE-BIDCO has been lending funds to California small business and farms since its creation in 1981. Since that time, they have made over $100 million in direct loans and, working with other agencies, have underwritten an additional $100 million for a market impact of over $200 million.

SAFE-BIDCO has an enviable record of success, given the borrower profile they have been tasked to serve. Their mission of working with troubled and/or startup borrowers is consistent with their Vision to be the alternative lending agency of choice for small    business.

SAFE-BIDCO is a good match for this grant. They will make good use of the funds your Department so wisely makes available to support Tribal Businesses. Thank you for your full and fair consideration.

Sincerely,

 

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