SNOWE, COLLINS ANNOUNCE COMMUNITY DEVELOPMENT FUNDS FOR MAINE TRIBES

WASHINGTON, D.C.—Senators Olympia Snowe (R-ME) and Susan Collins (R-ME) today announced that the U.S. Department of Treasury's Community Development Financial Institution' (CDFI) Fund has awarded a $525,000 Native American Assistance Award to Four Directions Development Corporation, a certified community development financial institution serving the four tribes of Maine.

"The Four Directions Development Corporation is a vital resource to Maine's Native American community," said Senators Snowe and Collins in a joint statement. "It supports the four tribes of Maine by focusing on community development projects and enhancing economic opportunities."

Four Directions' mission is to improve the social and economic conditions of tribal members of the four tribes by investing in affordable housing, tribal business ventures and small and medium-sized business owned by tribal members. Four directions will use $425,000 for loan capital (FA award) and the remaining $100,000 is a technical assistance grant to support operations.

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