U.S. Treasurer Chief Malerba’s Visit Marks a Milestone for Tribal, Rural Entrepreneurship
Anchorage, Alaska – August 28, 2024 – The Alaska Small Business Development Center (SBDC) at the University of Alaska Anchorage (UAA) Business Enterprise Institute proudly celebrated a landmark event celebrating the launch of the Alaska State Small Business Credit Initiative (SSBCI) Tribal Consortium with the visit of U.S. Treasurer Chief Mutáwi Mutáhash (Many Hearts) Marilynn “Lynn” Malerba, the first Native American to serve as Treasurer of the United States and first female Chief of the Mohegan Tribe in modern history. This visit followed the Treasurer’s first official visit to an Alaska tribe, Chickaloon Village, a momentous occasion for the state and the nation.
Treasurer Chief Malerba’s visit to UAA further underscored the success of the newly launched Alaska SSBCI Tribal Consortium, which was announced in early August.
A pioneering collaboration between the U.S. Department of the Treasury and UAA’s Alaska SBDC, the Alaska SSBCI Tribal Consortium, funded with up to $83 million from the U.S. Treasury, is dedicated to supporting underserved and rural, Alaska Native-owned businesses.
By uniting 125 Alaska Native federally recognized tribes in partnership with the Alaska Federation of Natives, this program stands as the largest single
SSBCI investment in small business financing for Tribal governments to date. Establishing an intertribal SSBCI consortium will be instrumental in helping small, remote, and resource-limited Tribes in Alaska access federal funding for economic development.
“Today we celebrate an enormous opportunity for the economies of Indigenous and rural Alaska. As we have done for several American Rescue Plan programs serving Alaska Tribes, Treasury employed flexibility with policy and guidance to better align with the unique features of Tribal governments and economics, which allowed the Consortium to proceed smoothly and enabled small, remote, and capacity-constrained Tribes to access this federal funding. These funds will serve some of the most rural populations in the United States, creating jobs and expanding capital access for small businesses to grow and thrive. I am thankful for the Alaska Federation of Natives, the Alaska Small Business Development Center and the consortia member Tribes for making this historic intertribal consortium possible,” said Treasurer Chief Malerba.
UAA Chancellor Parnell and Alaska SBDC State Director Bittner welcomed attendees, setting the stage for a morning of learning about the Alaska State SSBCI program, Alaska SSBCI Tribal Consortium, and its impact on Alaska.
A highlight of the event was the Lending Session, which brought together local lenders, equity investors, CDFIs, and Tribal representatives to discuss innovative ways to support small businesses across the state through the SSBCI program.
With a shared goal of enhancing collaborative efforts, participants explored a range of strategies to strengthen financial support and investment opportunities for Alaska’s small business owners.
This groundbreaking initiative promises to create new opportunities, enhance community prosperity, and foster sustainable economic development, setting a new precedent for Tribal and small business support nationwide.
For more information about the Alaska SSBCI Tribal Consortium and its impact, please visit aksbdc.org/ssbci.
About the Alaska SBDC and Alaska SSBCI Tribal Consortium:
As the sole organization in the nation managing both State and Tribal SSBCI programs in Alaska, the Alaska Small Business Development Center (SBDC) at the UAA Business Enterprise Institute is uniquely positioned to drive substantial economic growth statewide. In partnership with 125 federally recognized Alaska tribes and the Alaska Federation of Natives, $83 million in funding from the U.S. Department of the Treasury is poised to leverage hundreds of millions in private-sector investment into Alaska’s small businesses over the next decade, including underserved, rural, and Alaska Native-owned small businesses.
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