THE SEQUOYAH FUND INC
Lending, training, and promoting entrepreneurship for enrolled members of the Eastern Band of Cherokee Indians and business owners in the seven westernmost counties of North Carolina.
The Sequoyah Fund Inc.
The Sequoyah Fund Inc. is a nonprofit organization designated as a 501(c)(3), operating primarily as a Community Development Finance Institution (CDFI). It focuses on supporting the economic development and social improvement of the Eastern Band of Cherokee Indians.
Mission
The mission of the Sequoyah Fund is centered around promoting entrepreneurship by offering small business lending and training exclusively to enrolled members of the Eastern Band of Cherokee. The organization aims to foster economic growth and development within this community.
Operations
The Sequoyah Fund has made significant contributions through its lending programs, including:
- Business Loans: Over 576 loans have been issued, totaling more than $23 million.
- Housing Loans: Over 263 loans, amounting to nearly $4.2 million.
- Other Loans: 82 loans with a total value of over $1.6 million.
These loans are part of the broader effort to support economic development by providing financial resources and assistance for business and personal needs.
Financial Structure
The organization's financial structure is supported by various revenue streams, including contributions, program services, and other revenues. It has a strong asset base and manages a substantial liability portfolio. As a nonprofit, donations to the Sequoyah Fund are tax-deductible.
Governance
The Sequoyah Fund is governed by a diverse board of directors, which includes members from various professional backgrounds. The board ensures the implementation of strategic plans and oversees the organization's performance, adhering to principles of transparency and accountability.
Community Impact
By supporting business development and providing financial services, the Sequoyah Fund plays a critical role in enhancing the economic sustainability of the Eastern Band of Cherokee community. Its impact extends beyond lending to promote a culture of entrepreneurship and self-sufficiency among its members.
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1998
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Sequoyah Fund
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