INDIGENOUS WOMEN CREATIVE ENTREPRENEURS FUNDED AND INVESTED IN THROUGH CO-OP CAPITAL LOAN PROGRAM AND FAIR TRADE INITIATIVE.

Native Women Lead Will Fund Women Creative Entrepreneurs through Working Capital & Investment in the Indigenous economy

CONTACT: Jaime Gloshay, Jaime@Nativewomenlead.org 

Albuquerque, NM, December 16, 2021 – Native Women Lead (NWL) funds 20 Native women creative entrepreneurs with specialties ranging from culinary arts, photography, and fashion through their Matriarch Creative Fund. Each recipient will receive a low-interest personal microloan of from $5,000 - $10,000 for their small business goals. 

The funds are designed to cover related business growth and operational expenses, such as staffing, product, supplies, communications, marketing, design, and customer retention tools. The funds come at a critical time for entrepreneurs in the creative economy to stabilize, grow, or expand after significant sales impact due to the COVID-19 pandemic. 

In continued partnership with Nusenda Credit Union & New Mexico Community Capital, this loan program provides equitable capital plus wrap-around support including but not limited to: technical assistance, mentorship, coaching, loan repayment support, financial literacy, and community connection. 

One of the goals of this initiative is to prove Native women entrepreneurs are investable through relationship-based lending that challenges traditional underwriting which has economically excluded many native people from the financial system. Through this design, the risk of default is mitigated by building trust, relationships, and meeting the entrepreneurs where they are in their business journey. 

This is the second lending program that NWL has launched and early findings from the first Matriarch (COVID) Response Fund are showing that Native women entrepreneurs are paying off their loans faster than peers (without the wrap-around support), 30% have since paid off their loans in full, and default rates are less 2%. 

“We believe this is critical to ensuring increased access to equitable capital; small business sustainability; economic growth; increased economic safety nets; successful repayment; and credit enhancement for all Native women entrepreneurs.” 
-Jaime Gloshay, NWL Co-Director 

“There are many people — often women, people of color, Native Americans, and immigrant communities — who have never had access to financial institutions. Co-op Capital provides a path to capital for borrowers in our community who would not traditionally have access. The microloans administered under this program use a character-based lending model, rather than the traditional five Cs of credit, to qualify a borrower. Access to capital — even in small amounts — has a multiplier effect. It helps the borrower on their journey and as an investment can help whole communities improve and thrive.”
- Amy Nigrelli, Nusenda Credit Union 

In addition to funding, NWL has launched their Fair Trade Initiative which invests in and promotes the native creative economy by investing in and partnering with Native Women-owned businesses to curate their B.E.W.E. Boxes for sale and distribution locally and nationally. NWL supports participating businesses in several ways which include: promoting Native-made products & services, offering culturally relevant assistance & programming, and access to capital. 

 This season’s Winter Wellness Box can be purchased here and features products from: 

• Ah-Shi Beauty

• Lakota Body Care

• Mudhead Soap & Skincare Co.

• Winston Paul

This is the third round of the initiative which has supported 20 Native and women-owned businesses from 2020-2021 providing a direct investment of over $50,000.00 into these businesses. The NWL Fair Trade Initiative will continue to be a seasonal offering and can be purchased through the Native Women Lead website.

Funding and support for these initiatives has been provided by the N.M. Indian Affairs Department, Nusenda Foundation, Impact Assets, Kataly Foundation, the McCune Foundation, LUSH, and through the Equality Can’t Wait Challenge. 

For more information on NWL, visit www.Nativewomenlead.org  

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Native Women Lead’s mission is to revolutionize systems and inspire innovation by investing in Native Women in business. We do this by co-creating with and convening our community to build coalition while honoring our culture, creativity, and connections. Our BEWE core values reflect our recognition of Native Women as the Backbone of our communities; Emerging as entrepreneurs and leaders; Weaving our ideas, resources, and community together to manifest change and Empower one another.