Sunrise Banks Helping Native Nations Acquire Land for Economic Development

 

Published August 17, 2017

$900,000 investment in Indian Land Capital Company supports tribal initiatives

LITTLE CANADA, MINNESOTA – Sunrise Banks, an innovative leader in the financial services industry based in St. Paul, Minnesota, recently invested $900,000 with the Indian Land Capital Company (ILCC), which provides financing for Native American tribes to acquire, develop and secure tribal land for economic development and cultural preservation. Sunrise is a family owned national chartered bank that strives for financial inclusion for all, and provides socially responsible financial products and services.

“Sunrise Banks is a great community partner, and we are pleased that they believe in the future of Indian Country as much as we do,” said Rjay Brunkow, CEO of ILCC, a Native-owned and operated business. “Their investment will be part of our lending pool that enables Native nations to purchase land and develop their economies.”

Unlike traditional lending institutions, ILCC makes loans to Native nations on a full-faith-and-credit basis. As such, ILCC does not require land to be used as collateral for the loan but rather encumbers alternative streams of income, including business or land revenue. This enables tribes to process land purchases more quickly and efficiently, and avoid costly legal fees. “We support tribal sovereignty, and recognize the importance of land to Indian people,” Brunkow said. “As a result, we are able to create customized, flexible loan packages that suit the specific needs of the tribe and the unique circumstances of the purchase.”

Much like ILCC, Sunrise Banks is a socially responsible, mission-driven enterprise that is meeting the needs of the underserved. “Sunrise is committed to partnering with innovative organizations that understand the needs of the communities they serve,” said David Reiling, Sunrise Banks CEO. “Indian Land Capital Company is uniquely positioned to help Native American tribes achieve their goals, and we are pleased to support the important work that they do.”

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This BBSNews article was syndicated from Native News Online, and written by Native News Online Staff. Read the original article here.