What is a CDFI?

Community Development Financial Institutions (CDFIs) are specialized financial institutions that provide financial products and services to populations and businesses located in underserved markets. FDDC is a nonprofit Native CDFI certified by the U.S. Department of Treasury and is a State of Maine licensed Supervised Lender, led and managed by the Wabanaki People.

What does it mean to be a Native CDFI, like FDDC is?

Native CDFIs help Native Communities thrive and grow by increasing their access to credit, capital, and financial services. The Native Initiatives program uses a combination of financial, technical assistance, and training to build the capacity of CDFIs serving Native Communities.

Who does FDDC serve?

FDDC serves the Passamaquoddy Tribe, Penobscot Nation, Houlton Band of Maliseets, Aroostook Band of Micmac and any enrolled Native American from a federally recognized tribe in Maine, including non-member spouses, children and direct descendants. FDDC also serves tribally and native owned businesses.

What is the difference between a CDFI and a bank?

The fundamental differences between CDFIs and banks are source of capital and motivation. CDFIs are largely capitalized by federal funding through the U.S. Department of the Treasury and through grants from federal sources. They can also receive funding from private sector sources such as individuals, corporations, and religious institutions who are seeking to meet private social motivations.

Can someone donate or invest in Four Directions Development Corporation?

Yes, individuals, foundations and institutions can donate to Four Directions. In fact, as a non-profit, donations are an important source of funds. Donations are tax deductible and are a great way to support Native Americans and their communities who are often underserved by traditional institutions.

Where do I begin to borrow money to buy a home or start a small business?

Contact Four Directions to discuss your needs, we will help determine where you will start the borrowing process. You may start with financial counseling, sign up for a homeownership course, or simply fill out an on-line loan application. Call or email us to get started!

What if I have bad credit, will I automatically be disqualified for a loan?

No, many of our clients have poor credits or no credit history. Our Financial Services counselors will be happy to work with you to rebuild your credit or establish positive credit.

How can I get access to government contracts if I already own a small business?

FDDC has a Procurement Technical Center program who will first evaluate if you are ready and able to bid on government contracts. Our Procurement Technical Assistant Counselor is dedicated to assisting Native American small business with this process. 

Are there any alternative to loans for tribes or tribally owned businesses who need capital?

Often, tribes and tribally owned businesses are looking to start or expand tribal businesses but taking on debt might not be the right solution. Our Community Development program manager will work to find the best financial solution, which may require flexible financing options. Contact us to determine the best fit for your need. 

What business development services does FDDC provide?

Four Directions offers a wide range of business development services. We will work with you to determine your needs and match the right skills to provide the solution you need. Some highlights of services we offer are Due Diligence, Comprehensive Economic Development Strategy (CEDS), Feasibility Studies, Housing Needs Assessment, Enterprise Structure, Financial Packaging Services, Financial Literacy and many more!