Lakota Funds has become South Dakota’s third lender under the USDA Rural Development Single Family Housing Direct Home Loans program after closing on a $764,000 investment, officials announced.
State Director Lorraine Polak said the funding will provide working capital to finance home loans on the Pine Ridge Reservation, helping expand access to affordable housing in Tribal communities.
Polak noted that Lakota Funds is now the third Native Community Development Financial Institution in the state to participate in the program, supporting ongoing efforts to increase economic opportunities and access to capital for Native American residents.
USDA Rural Development has invested more than $8.6 million in South Dakota through the relending program, including nearly $3.1 million to Mazaska Owecaso Otipi Financial and more than $4.8 million to Four Bands, both serving reservation communities.
Nationwide, the agency has invested over $24.7 million since 2023 to expand the program into additional states.
USDA Rural Development provides loans and grants aimed at improving housing, infrastructure, and economic development in rural and Tribal areas.
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