Cherokee Preservation Foundation

CPFdn Makes Five Grants Totalling More Than $850,00
To Fuel EBCI Entrepreneurship and Small Business Development

CHEROKEE, NC, March 17, 2006—Cherokee Preservation Foundation (CPFdn) announced today that it has made five grants totaling more than $850,000 to encourage entrepreneurship and small business development on the Qualla Boundary and nearby communities of the Eastern Band of Cherokee Indians (EBCI). Through Vision Qualla, a community-wide planning effort led by CPFdn, entrepreneurship was designated as a primary means of future growth that is in keeping with Cherokee values and that will create a better life for members of the EBCI. As a result, CPFdn has been focusing on productive programs that help entrepreneurs and small business people succeed.

CPFdn awarded $500,000 to the Sequoyah Fund, a recently certified Community Development Financial Institution (CDFI) established to serve enrolled members of the EBCI. As a CDFI, the Sequoyah Fund can provide support to entrepreneurs in innovative ways that traditional banks cannot by providing technical assistance in business plan development, ongoing support and mentoring, and low-interest loans. The new CPFdn grant increases the Sequoyah Fund’s lending capital and will help expand the number of successful Native-owned businesses in Cherokee and the surrounding area.

Following up on a 2005 grant to Mountain MicroEnterprise Fund (MMF) that facilitated the development of a collaborative network of business development service providers on the Qualla Boundary and six Western North Carolina counties, CPFdn has awarded a new $233,400 grant to MMF to fill gaps in training that is available. The new grant will enable business plan assessments by MMF, accompanied by realistic goal setting and coaching, peer networking sessions, and a low interest loan fund to allow the growth and expansion of small, local businesses.

A $60,000 grant will enable the EBCI Economic Development Department to conduct a study to determine whether a business incubator on the Qualla Boundary is feasible. An incubator potentially could help expand job opportunities that are now principally limited to Harrah’s Cherokee Casino and Hotel, Tribal Government and other Tribal entities, and Cherokee Preservation Foundation. Three types of businesses that may benefit from an incubator in Cherokee include businesses than rely on broadband Internet access, craft businesses and food preparation concerns.

A $50,000 grant will enable the EBCI Business Development Office to offer training to enrolled members of the EBCI who want to start a business. The training program will be implemented by Mountain MicroEnterprise Fund, Western Carolina University and Southwestern Community College.

A $15,500 grant will be used to expand the Smokey Mountain Native Plants Association’s Rampmeal Project, a value-added food manufacturing program that provides training and jobs in Graham County. The program has been featured at the Smithsonian Institute’s Folklife Festival.

“ Entrepreneurship is vital to the economic health of the Qualla Boundary and surrounding region,” said Susan Jenkins, CPFdn’s executive director. “We need many successful businesses and business owners to maintain a stable and growing regional economy over the long term and offer multiple, excellent job choices to young enrolled members as they graduate from college.”

CPFdn Has Made 41 New Grants

Overall during the Spring 2006 grant cycle just completed, CPFdn announced 41 new cultural preservation, economic development and environmental protection grants totaling nearly $7 million. As a result, since CPFdn began making grants in 2002, it has made more than 300 grants in the region totaling nearly $25 million.

Other new economic development and job creation grants will:

Increase access to the Western Carolina University nursing program for EBCI students so the nursing shortage on the Qualla Boundary can be addressed.
Help WNC Partners for Nonprofit Success provide training, learning opportunities and resources to nonprofits and community groups across Western North Carolina. CPFdn, the Community Foundation of Western North Carolina, Mission Healthcare Foundation, United Way of Asheville and Buncombe County and the University of North Carolina-Asheville established WNC Partners for Nonprofit Success in 205 to sharpen the skills of the nonprofit sector.
Provide a carpentry apprenticeship to youth in Graham County and on the Qualla Boundary.
Enable improvement of the Tribal Employment Right Office’s program that gives a hiring preference to qualified Native American contractors and subcontractors when the EBCI issues requests for proposals on projects.

About Cherokee Preservation Foundation

Cherokee Preservation Foundation was established on November 14, 2000, as part of the Second Amendment to the Tribal-State Compact between the EBCI and the State of North Carolina. It is an independent nonprofit foundation funded by the EBCI from gaming revenues generated by the Tribe. CPFdn is not part of or associated with any for-profit gaming entity.