Ka Wai Ola - Office of Hawaiian Affairs, Volume 36, Number 11, 1 November 2019 — Hawaiian Homestead Loan Funds Receives $300,000 in Investments [ARTICLE]

Hawaiian Homestead Loan Funds Receives $300,000 in Investments

The Homestead Community Development Corporation (HCDC) recently received a total of $300,000 in capital investments

to start up its Homestead Loan Fund whieh will serve residents of Hawaiian Home Lands statewide. A $150,000 investment was made by a national intermediary non-profit, First Nations Oweesta Corporation, headquartered in Longmont, Colorado. Another $150,000 investment was awarded by the U.S. Treasury Department, CDFI Fund in Washington D.C. "These investments launeh a new chapter in the eeonomie selfdetermination of homesteaders eligible to receive land allotments under the Hawaiian Homes Commission Act of 1920 (HHCA)," said Robin Puanani Danner, HCDC CEO. "They are investments that we intend to grow year after year, to open the pathway of capital for homes, farming and ranching for

Native Hawaiian families, as well as for mercantile businesses and general consumer purposes on the homesteads." Danner founded the first Community Development Financial Institution (CDFI) through the Council for Native Hawaiian Advancement (CNHA). CDFI has made more than $5M in loans to Native Hawaiians statewide, specifically general business and interim home constraction loans. "It became clear that given the focus of farming, ranching and mercantile as key purposes of the HHCA, a loan fund that offered dedicated expertise in our land trust law was needed," Danner said. "Our HCDC board directed the development of a homestead loan fund, and challenged our team to not just make loans and grants, but to educate our people on the HHCA itself, on their rights and responsibilities as beneficiaries of this congressionally enacted law." Rolina Faagai, who has a background in investment finance, was hired in May 2019 to lead the Homestead Loan Fund, and in September, HCDC was awarded funding from First Nations Oweesta and the U.S. Treasury Department to advance the priorities of HCDC. "We are establishing all of our loan systems, our criteria, and programming to meet the needs of homesteaders, especially in the specialty areas of family farms, ranches and addedvalue agriculture," explained Faagai from her office on Kaua'i. "Increasing access to capital for our families statewide, where our trust lands are located, will grow our overall eeonomie sustainability as a people, and will benefit surrounding communities too." Chrystel Cornelius, Oweesta Coiporation CEO said, "HCDC and the Homestead Leaders in Hawai'i are focused on eeonomie growth, and we are proud to invest in their vision. Trust lands have a unique purpose; a unique relationship to the Federal Government. Our investment is merely a beginning to support Hawaiians in achieving eeonomie prosperity on their lands."B