Lakota Funds and native CDFIs credited with jumpstarting Pine Ridge small‑business ownership

Elsie Meeks, who helped found Lakota Funds and serves on the board of Lakota Funds, described the organization’s long effort to seed a private‑sector base at Pine Ridge and to build borrower capacity through financial literacy and business training. "When we stepped back and did it right, I'm happy to report that the Lakota Fund has a delinquency rate of less than 2 percent," Meeks said in response to audience questions.

Meeks said early lending attempts showed high delinquency because borrowers lacked prior checking accounts, banking experience or business history. The fund adapted by investing heavily in training, savings and business planning before extending loans. She listed business types supported by Lakota Funds: grocery stores, trucking companies and contractors across trades such as electrical, plumbing and carpentry, adding that the fund also provides training stipends to help employers hire and build a local workforce.

Meeks emphasized that tribal economic growth commonly occurs where strong, community‑based CDFIs operate and where tribal governments adopt supportive procurement and regulatory policies. "The CDFI fund, Department of Treasury, sends a lot of money to native CDFIs, and that's what helps support, gets this economy rolling," Meeks said, urging tribal leaders to advocate for such funding.

Panel moderator Dr. Ian Recker and other speakers noted that native CDFIs often achieve lower delinquency rates than conventional banks because they are community‑based and provide intensive technical assistance. The webinar offered lessons for tribes interested in fostering citizen‑owned businesses but did not announce new funding or formal policy changes.