Latest news with #OweestaCorporation
Forbes
07-05-2025
- Business
- Forbes
Reimagining Finance In Native Communities: The Power Of Partnership
In Native communities across the country, economic development has never been just about profit — it's about people. It's about restoring generational wealth, repairing broken systems, and reclaiming our right to self-determination. At Oweesta Corporation, we believe that kind of transformation doesn't happen in silos. It happens in partnership. PRT staff, the steering committee, and Deputies from January 2025. Oweesta From the very beginning, our organization was built on the principle that Native people know best what their communities need — and that by working together across industries, sectors, and sovereign nations, we can build the infrastructure for long-term, Indigenous-led economic growth. Too often, Native communities are left out of mainstream financial systems and philanthropic priorities. The result? Persistent capital gaps, chronic underinvestment, and a lack of access to tools many others take for granted — like credit, small business support, and homeownership financing. But when financial institutions, nonprofits, and tribal governments unite around a shared mission, these challenges become opportunities. 'Our strength lies in our relationships,' says Chrystel Cornelius, President and CEO of Oweesta. 'No one sector alone can solve the complex issues our communities face. But when we align our efforts, listen deeply, and center Indigenous leadership, we create real, lasting impact.' Indigenous Innovation, Collective Impact At Oweesta — and across our peer organizations — we've seen the power of collaboration firsthand. One striking example is the WORTH (Wealth Opportunities Realized Through Homeownership) program, launched by Wells Fargo in 2021. Designed to create 5,000 new BIPOC homeowners in underserved markets, including rural and tribal communities, the Rural WORTH Collaborative (Oweesta, CDCB, Fahe, HOPE, RCAC, Communities Unlimited, and Lakota Funds) was awarded $7.5 million in flexible funding over four years to expand rural homeownership and dismantle systemic barriers like housing shortages, appraisal gaps, and limited credit access. To date, the collaborative has helped over 4,000 households achieve homeownership — including more than 400 Native families — and is on track to exceed its goal of 5,610 BIPOC homeowners by December 2025. 'The Rural Worth Collaborative is combating these systemic issues while they expand homeownership, elevating their collective impact for each other's service areas,' explains Essence Smith, Senior Communications and Partnerships Manager of Partners for Rural Transformation. Another example is the Native CDFI Network's (NCN) work with Wells Fargo to support Native CDFI growth in California and Nevada. While California is home to 110 federally recognized tribes, until recently, just two Native CDFIs served the state. Nevada has 28 federally recognized tribes — and no Treasury-certified Native CDFIs. The Native CDFI Network's mission is to be a national voice and advocate that strengthens and promotes Native community development financial institutions (CDFIs), creating access to capital and resources for Native peoples. Pete Upton, CEO of Native CDFI Network (Enrolled Citizen of the Ponca Tribe of Nebraska) Memorymaker Photography Through the California Native Partnership Gathering, nearly 100 tribal leaders, housing authorities, and financial organizations convened at Tule River Reservation, blending cultural protocol with practical workshops. The result: new Native CDFI development, deeper relationships, and tangible projects — including the Nupchi Xo' Oy housing development, a 40-home solar-powered affordable rental community that cuts utility costs by 40%. 'What's powerful about successful partnerships like this is the snowball effect they create,' says Pete Upton, CEO of NCN. 'Once Wells Fargo saw our work in their focus areas, we partnered — and other organizations like NeighborWorks recognized collaboration with us as a no-brainer.' Rewriting the Rules of Access Native communities still face major hurdles accessing capital: geographic banking deserts, outdated lending regulations, lack of trust land financing, and inadequate infrastructure. According to a study by the Federal Reserve Bank of Philadelphia, 46% of Indian Country qualifies as a banking desert. 'Even when capital is technically available, it's often attached to outdated, unclear federal regulations that restrict the kinds of flexible lending products our communities need,' says Upton. 'Partnerships help, but it's a slow process rooted in trust and cultural understanding.' This is where Native CDFIs step in — not just as lenders, but as educators, advocates, and trusted connectors between Indigenous communities and the broader financial system. Through collaboration, Native CDFIs are building solutions that reflect the diversity of their communities. NCN's Clean Energy Finance Certificate, for example, equips Native lenders to design local renewable energy solutions — from solar housing in California to microgrids in Alaska. Meanwhile, transformational gifts like MacKenzie Scott's $110 million investment in Native CDFIs offer trust-based capital that supports responsive, community-designed lending strategies. 'We don't need one-size-fits-all programs,' says Upton. 'We need relational approaches that honor sovereignty, strengthen capacity, and support locally driven solutions.' Equitable Partnerships, Rooted in Respect Ensuring that partnerships remain equitable and mutually beneficial requires more than funding — it requires intentionality. 'The fundamental principle is: 'don't speak for us until you speak to us,' says Upton. 'Equitable partnerships mean showing up with humility, centering Native voices, and prioritizing the people we serve—not just the metrics or credit.' 'Our communities carry knowledge that predates the financial systems we now seek to reform,' says Chrystel Cornelius, President and CEO of Oweesta. 'When partners come to the table not to lead, but to learn, we unlock solutions rooted in Indigenous wisdom — solutions that are not only effective, but enduring.' Across the country, Native CDFIs — including those supported by Oweesta and NCN — are expanding their reach. They're forming mortgage cohorts, launching HUD-certified housing counseling networks, and collaborating with institutions like Fannie Mae and Freddie Mac to make affordable capital more accessible. Pete Upton facilitating a break out session during the 2024 Capital Access Convening in Santa Ana Pueblo, NM Oweesta Across the country, Native coalitions are already demonstrating the power of collective action. Efforts like the South Dakota Native Homeownership Coalition, Mountain Plains Regional Native CDFI Coalition, Montana Native Homeownership Coalition, Wisconsin Indigenous Housing and Economic Development Corporation (WIHEDC), Northwest Native Lenders Network, United South and Eastern Tribes (USET), and the Alaska Native–Native Hawaiian Collaborative are leading transformative, place-based initiatives to expand housing, economic opportunity, and financial infrastructure in Indigenous communities. Many of these coalitions also partner with cross-sector initiatives like the Partners for Rural Transformation, ensuring that Native communities are included in broader rural development strategies while honoring their distinct cultural and governance structures. To truly scale this work, Native CDFIs need: Flexible, long-term capital that aligns with tribal economic realities that aligns with tribal economic realities Operational funding to strengthen internal capacity to strengthen internal capacity Regulatory flexibility to design financial products that actually work on tribal lands 'Nobody knows Native communities better than Native CDFIs,' Upton adds. 'With the right support, we can realize our full potential as engines of sustainable economic development across Indian Country.' The Future is Collaborative As we look to the future, Oweesta calls on partners across sectors — from banks and foundations to government agencies and private investors — to walk beside us. Our goal isn't just to fill funding gaps. It's to build bridges. To reimagine what's possible when we pool our resources, uplift Native voices, and align our work with Indigenous visions for the future. Because when partnerships are done right, they don't just fund projects. They shift power. They change narratives. They create a world where Indigenous communities don't have to choose between cultural integrity and economic opportunity. They make space for Native excellence to lead the way.
Forbes
14-04-2025
- Business
- Forbes
Investing In Sovereignty: The Oweesta Approach
Native Americans own over 400,000 businesses across the United States, accounting for 1.2% of all U.S. firms. Yet many entrepreneurs face significant barriers in accessing capital, often due to the unique legal and geographic structures within tribal communities and broader challenges within the traditional lending system. As President and CEO of Oweesta Corporation, a national Native CDFI intermediary, Chrystel Cornelius leads efforts to bridge the gap between financial institutions and Native communities. A citizen of the Oneida Nation of Wisconsin and the Turtle Mountain Band of Chippewa Indians in North Dakota, Chrystel has spent the past 25 years advancing economic development in Native and rural areas. I recently had the opportunity to speak with Chrystel about the current landscape for Native-owned businesses and the transformative work of Oweesta. Our conversation, edited for clarity, follows below. Rhett Buttle: At a high level, can you describe how Native small business owners are contributing to the economy in the United States, as well as their communities. Chrystel Cornelius: Native small business owners are vital to the strength and sovereignty of Indigenous communities and the U.S. economy. Rooted in resilience, innovation, and cultural stewardship, Native entrepreneurs are driving economic growth, creating jobs, and reclaiming economic power on their own terms. Today, Native Americans own over 400,000 businesses across the United States, representing 1.2% of all U.S. firms. Collectively, these businesses contribute over $33 billion annually to the economy and employ nearly 300,000 workers nationwide. Native-owned businesses are thriving in industries such as construction (35,969 firms), professional and technical services (30,966 firms), and other key sectors (43,573 firms). Their impact extends beyond these numbers—Native entrepreneurs are leading in tourism, agriculture, technology, and the arts, bringing Indigenous knowledge and practices into the broader market. Many Native business owners are weaving tradition with innovation, integrating ancestral knowledge, sustainable practices, and cultural craftsmanship into their enterprises. Their success is a direct investment in Indigenous communities, strengthening local economies, funding education, expanding healthcare access, and fostering self-sufficiency. Native entrepreneurs are not only contributing to the economy—they are building legacies, preserving culture, and reclaiming economic sovereignty for future generations. Rhett Buttle: What are some of the unique challenges Native entrepreneurs face in starting and maintaining their own small businesses? Chrystel Cornelius: Native entrepreneurs face distinct challenges when launching and sustaining their businesses, many of which are rooted in historical and systemic barriers. One of the most significant obstacles is limited access to capital and investment. Unlike the rest of America, many Native business owners struggle to secure traditional loans due to the rural nature of tribal communities and the reluctance of conventional banks and investors to support Native-led businesses. Without equitable financial opportunities, Indigenous entrepreneurs often rely on self-funding or community-based lending, which can limit growth potential. Infrastructure disparities further hinder Native business development. Many Indigenous communities lack reliable internet access, transportation networks, and commercial space, making it difficult to operate and scale businesses—especially in remote or rural tribal lands. These infrastructure gaps place Native entrepreneurs at a disadvantage in an increasingly digital and interconnected economy. Market access and visibility also present significant challenges. Native business owners frequently struggle to break into mainstream markets due to limited networking opportunities, lack of exposure, and misconceptions about Indigenous products and services. Many businesses rely heavily on word-of-mouth and local sales, which can limit their ability to expand and reach broader audiences. Despite these challenges, Native entrepreneurs continue to build and sustain businesses that uplift their communities, preserve cultural traditions, and contribute to economic sovereignty. Addressing these barriers—through increased access to capital, stronger infrastructure investment, and broader market inclusion—is critical to ensuring the long-term success and resilience of Native-owned businesses. Rhett Buttle: How does the Oweesta Corporation work with businesses to help them overcome these challenges? Chrystel Cornelius: Oweesta Corporation plays a critical role in strengthening Native small businesses by acting as a direct investor in Native Community Development Financial Institutions (Native CDFIs), which often face limited access to capital. By supporting these financial institutions, Oweesta ensures that Native entrepreneurs and tribal businesses have access to the funding and resources they need to thrive within their communities. Beyond investment, Oweesta supports Native CDFIs, Tribes, and Native-led nonprofits by providing technical assistance, training, and capacity-building support. These efforts help organizations strengthen their expertise needed to deliver capital, financial education, and business development services to Native entrepreneurs. By directly investing in Native-led economic development efforts, Oweesta strengthens the financial infrastructure in tribal communities, creating pathways for small business success, job creation, and long-term economic sovereignty. Through these efforts, Oweesta ensures that Indigenous businesses are not just surviving—but thriving. Rhett Buttle: Would it be possible to share some success stories? Chrystel Cornelius: Absolutely. One inspiring example comes from Olympia, Washington, where Native American and veteran entrepreneurs Daniel and Treasa Sabo launched MELO Powerwash—a professional exterior cleaning company focused on helping homeowners and businesses maintain and enhance their properties. Treasa's journey began when she connected with the Nimiipuu Fund and enrolled in their Indianpreneurship Workshop. Through this program, she sharpened her business strategy and created a solid plan to bring MELO Powerwash to life. With the guidance and support of the Nimiipuu Fund, she secured seed capital through a Native CDFI—providing the critical investment needed to launch the business. Today, MELO Powerwash has grown to serve both residential and commercial clients across Washington State, offering services like pressure washing, roof and window cleaning, and even holiday light installations. But their impact goes beyond business—by helping others protect their homes and investments, the Sabos are building a stronger, more resilient community. Rhett Buttle: The White House recently issued an executive order on reducing the federal government that impact the CDFI fund and the MBDA. Would this affect Native small businesses and if so, how? Chrystel Cornelius: The CDFI Fund and the NACA Program have made it possible for Native CDFIs to serve as financial pillars in their community, providing capital where traditional banks and lenders have fallen short. Native CDFIs' direct investment in their community has led to the creation of tens of thousands of jobs and thousands of Native-owned small businesses across the United States —all of which strengthen our local economies and our Nation as a whole. Rhett Buttle: If an aspiring entrepreneur or business owner wants to engage with the Native CDFI sector for business support, what should they do? Chrystel Cornelius: There is a CDFI in every state in the US. If a tribal entrepreneur wishes to receive support for their business they should look up viable CDFIs in their area by researching CDFIs on the Department of Treasury CDFI Fund website.
Forbes
04-04-2025
- Business
- Forbes
Celebrating AANHPI Heritage Month & The Native CDFI Capital Access Convening
As we celebrate Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month this May, we recognize the critical role Native Community Development Financial Institutions (CDFIs) play in fostering economic resilience and self-determination across Indigenous communities. This year, Oweesta Corporation's Native CDFI Capital Access Convening (CAC) in Hawai'i brings together Native CDFIs, Native-led organizations, funders, investors, and partners to tackle pressing challenges, share strategies, and strengthen our collective commitment to financial empowerment. More than just a conference, the CAC is a gathering of changemakers highlighting the success of the Native CDFI movement—and celebrating innovation, resilience, and the power of Native-led community development. With this year's event coinciding with AANHPI Heritage Month, it is the perfect time to amplify the voices and successes of Native CDFIs and Native Hawaiian leaders who are driving impact in their communities. The Boyd family with the Hawaiʻi Community Lending team. Hawai'i Community Lending Team This year's convening is anchored in the theme: Resilience. Abundance. Kōkua. These values reflect both the lived experiences and future aspirations of Native communities. Resilience honors the strength of Indigenous peoples who continue to build through generations of displacement and economic exclusion. Abundance shifts the narrative from scarcity to prosperity, imagining what becomes possible with sustained investment in Native communities. And kōkua—the Native Hawaiian word for support—underscores our shared responsibility to uplift one another in the work of community-building and economic justice. What Makes Native CDFIs Unique Native CDFIs are mission-driven financial institutions designed to serve Native American, Alaska Native, and Native Hawaiian communities that have been historically excluded from mainstream banking systems. These organizations operate with a deep understanding of their communities, offering not only financial products but also culturally grounded technical assistance, credit counseling, and entrepreneurship training, among other services; responsive to community needs. Their work helps build generational wealth, strengthen Tribal sovereignty, and close persistent gaps in access to capital. In Native Hawaiian and Pacific Islander communities in Hawaii, where the cost of living is high and access to traditional finance is limited, the role of Native CDFIs is particularly critical. Why the Native CDFI CAC in Hawai'i Matters For Native Hawaiian leaders, the opportunity to convene in Hawai'i provides a powerful moment of connection, strategy-building, and solidarity. The CAC creates a space for Native CDFIs from Native nations across the U.S. to learn from one another and to celebrate solutions rooted in cultural values, land stewardship, and economic self-determination. Jeff Gilbreath, Executive Director of Hawaiʻi Community Lending, shared his reflections on the importance of this year's gathering. Leadership Rooted in Place The CAC is more than policy panels and funder roundtables—it is a space for cultural exchange, relationship-building, and sharing innovative strategies. That includes examples like community land trusts, grant-blended capital solutions, trauma-informed development services, and other solutions that reflect Indigenous values. Holding the convening in Hawai'i this year offers a chance for other Native leaders to experience firsthand how Native Hawaiian CDFIs lead with aloha and ground financial solutions in place-based values. Pakini Loan Fund Team Pakini Loan Fund Pakini Loan Fund, having attended previous convenings in Alaska and New Mexico, expressed their excitement about this year's event as an opportunity to share their Native Hawaiian culture with their Native American 'ohana in a way that fosters deeper connections and community. They shared, 'With this year's convening in Hawai'i, we're excited to be able to share our Native Hawaiian culture with our Native American 'ohana in a way that, we hope, will build a sense of community and togetherness for our native cultures, especially in these exceptionally challenging times.' If Native communities are 'invisible' to the wider community, then Native Hawaiians are often the 'invisible of the invisible' and holding an event in their homelands lifts their work up on a national scale. The Impact of Native CDFIs: A Story of Resilience and Homeownership A powerful example of this impact comes from Hawai'i Community Lending (HCL), which helped the Boyd family achieve homeownership despite facing financial hardship. Kevin Boyd, an entrepreneur, and his wife, Alycia, struggled during the COVID-19 pandemic. When they received their residential lease award from the Department of Hawaiian Home Lands, they turned to HCL for support. Kevin Boyd in front of his house during the building process. Hawai'i Community Lending Team Their path to homeownership was filled with financial barriers, but HCL provided the comprehensive assistance they needed: Today, the Boyds live in their home in the Anahola homestead on Kaua'i, paying just $1,087 per month—a fraction of what they previously spent on rent. Their story illustrates the transformational work Native CDFIs make possible. Unlike traditional lenders, who often wrongly see financing in Indigenous communities as too complex or risky, Native CDFIs have the flexibility and willingness to bundle available resources into custom solutions for the best deals for their clients. This type of creative, hands-on financial structuring is exactly what sets them apart. Without them, many Native families would be left with few, if any, viable options for securing safe and affordable housing. A Moment to Celebrate and Mobilize As we celebrate AANHPI Heritage Month, we honor the leadership, creativity, passion, and cultural resilience in Native Hawaiian, Pacific Islander, and Indigenous communities across the country. Their work is about more than dollars and deals—it's about justice, identity, and community-led change. The CAC is a testament to the power of culturally grounded finance and the transformative impact it can have on generations to come. It is also a call to action. It invites funders, policymakers, and investors to go beyond transactions and into transformation. Native CDFIs are not asking for charity—they are demonstrating what economic self-determination looks like when capital is in Native hands. As Chrystel Cornelius, CEO of Oweesta Corporation, reminds us, 'Now is the moment to lean in - to lead boldly with culture at the center, and to ensure our communities have the capital they need to build the futures they envision.' Here's to celebrating AANHPI Heritage Month with a vision that goes beyond recognition—toward investment, collaboration, and the shared work of building thriving Native futures.
