Oweesta

About the Lender: Oweesta Corporation is a Native Community Development Financial Institution (NCDFI) Intermediary Lender to Native CDFI’s across the US including Alaska and Hawaii. Oweesta’s mission is to provide opportunities for Native people to develop financial assets and create wealth by assisting in the establishment of strong, permanent institutions and programs contributing to economic independence and strengthening sovereignty for all Native communities. Our mission is achieved through providing lending capital, financial education programming and technical assistance to NCDFIs, tribal governments, tribal entities and Native serving non-profit organizations.

Use Case:

The Problem: Oweesta is seeking to expand its lending activity beyond its traditional focus on lending to other Native CDFIs, aiming to grow its business and amplify its positive impact in Native communities. Participation loans provide an avenue for Oweesta to finance projects that serve CDFIs, Tribes, Tribal Enterprises, and Native Nonprofit organizations — including infrastructure, economic development, and essential service initiatives that benefit Tribal communities. While participation lending is a promising way for Oweesta to achieve both its growth and impact objectives, it also introduces increased risk due to Oweesta’s limited track record outside of lending to other Native CDFIs.

Proposed Solution: This loan will enable Oweesta to expand its participation lending and generate meaningful economic and environmental benefits. The Cairnspring Mills project—a $65 million regenerative flour mill developed in partnership with the Confederated Tribes of the Umatilla Indian Reservation—will be built in a tribe-owned business park, directly supporting 12 local farms. The initiative not only provides equity ownership to the Umatilla Tribe but also aligns with the Tribe’s broader economic development goals, advancing sustainable agriculture and tribal prosperity.

The Credit Gap: Cairspring Mill needed $65 million in construction financing before the next harvest season. Oweesta joined a syndicate of 8 Native CDFI lenders to provide the final $9 million missing
subordinated gap financing required to complete the project capital stack. The total project is
being financed through a combination of equity, debt, and New Markets Tax Credits. The senior
project lender is backed by a USDA guarantee, while the subordinated lenders had less certain
collateral. The gap financing is expected to be repaid through future foreign investment proceeds
from the Federal EB-5 program. The CLRS credit enhancement allowed Oweesta to participate in
this crucial gap bridge financing loan and allowed Cairspring Mill to commence construction to be
ready for the next harvest and milling season.

Expected Impact:

• Expected Loan Deployment ($): $9 million

Additional Benefits:

Cairnspring Mills will enhance soil health through regenerative farming methods, pay premium
prices to local farmers, and strengthen the economic stability of the region. Its commitment
to sustainability and direct sourcing delivers high-quality, traceable wheat to top bakeries nationwide,
supporting healthier food choices. By empowering Pacific Northwest farmers and setting new standards for craft flour, Cairnspring Mills fosters environmental stewardship, economic growth, and community resilience.