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IEED

Office of Indian Energy and Economic Development

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ILGP Borrower Success Story: Coyote Valley Convenience Store

The Coyote Valley Band of Pomo Indians' convenience store has done well since its opening. It sells wide variety of products and features fuel pumps and a drive through.

The store has become a business model for other tribes that are trying to accomplish the similar goals.

Details

Type of Service: Loan GuaranteeCoyote Valley Convenience Store
Lender: Pinnacle Bank
Project: Convenience Store
Financing Amount: $6,000,000
Location: Redwood, CA

Description

The Coyote Valley Band of Pomo Indians have overcome many setbacks in their long history; termination in 1957 being one of the biggest setbacks. Now the band is capitalizing on years of planning and development to improve their local economy. The several businesses that have come to fruition are a sign of their strong resiliency. The most recent of those successful economic endeavors is the Coyote Valley Convenience store.

The convenience store is in a prime location near highway 101 located in the Redwood Valley of Northern California. The band is capitalizing on tax incentives and revenue from the store.

“Our community has been excited to see the businesses develop on our reservation,” Tribal Chairman Michael Hunter said. “Our people and the surrounding communities were very excited to see the beautiful facility that has been built here. We offer competitive prices and products and continually receive positive compliments on the store.”

The convenience store continues to do well each month since its opening and employs up to 20 full-time employees. Now the tribe is considering an RV park and possibly a new hotel.

“The highlight of establishing this business has been the positive morale it has brought to the community,” Tribal Chairman Hunter said. “I have noticed that the tribal council is constantly evaluating how to improve what we have.”

“The [Division of Capital Investment] staff was very helpful during the entire process. We couldn’t have been able to make this happen without the loan guarantee program.”

Additional Information

Related Pages

Contact Us

Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
9:00 a.m. – 5:00 p.m. EST, Monday–Friday
DCI@bia.gov
(202) 219-0740

ILGP Borrower Success Story: Glacier Family Foods

Before Glacier Family Foods was established, there was only one local option for grocery shopping — a store that had existed in Browning for over 30 years. The next nearest grocery store was 120 miles away.

Details

Date of Commitment: November 9, 2011Inside Glacier Family Foods grocery store
Type of Service: Loan Guarantee
Lender: First Interstate Bank
Borrower: Glacier Family Foods LLC
Project: Financing the Plant, Property, and Equipment
Financing Amount: $5,126,000.00
Location: Browning, MT

Description

Scenic Glacier National Park adjoins the Blackfeet Nation where Glacier Family Foods is located in Browning, Montana. An Indian Affairs loan guarantee enabled the Blackfeet tribe to create Glacier Family Foods in November 2011. The grocery store is operated by the Siyeh Corporation, an economic development and management company owned wholly by Blackfeet Nation.

The community supported the Blackfeet tribes’ development of Glacier Family Foods, not just because the store expanded shopping choices, but because it also brought jobs. The store employs up to 45 employees and continues to be a solid return on the tribe’s investment. The Blackfeet Nation is proud of the business’s success and its creation of jobs in an area of very high unemployment.

“The impact of more jobs while providing lower priced grocery store products has been tremendous,” said Denis Fitzpatrick, CEO of Siyeh Corporation. “Some local customers may not have vehicles to travel out of town for groceries. They can now save more money by purchasing locally.”

Glacier Family Foods continues to expand and modernize to meet customer demands. A fuel kiosk has been added to the grocery business and a rewards program has been established offering discounted fuel and grocery coupons.

Additional Information

Related Pages

Contact Us

Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
9:00 a.m. – 5:00 p.m. EST, Monday–Friday
DCI@bia.gov
(202) 219-0740

ILGP Borrower Success Story: HydroHoist

HydroHoist, helmed by CEO and Cherokee member Mick Webber, used an Indian Affairs loan guarantee to continue its 54-year history of manufacturing, selling, and servicing boatlifts, power pedestals, and other marine-related products.

Henry Rutter, the founder of HydroHoist, patented the hydro-pneumatic system of lifting boats in 1964. It became the original boat lift manufactured and marketed by HydroHoist.

Details

Date of Commitment: February 2013Boat being lifted by hydro-pneumatic method.
Type of Service: Loan Guarantee
Lender: BancFirst, Claremore, OK
Borrower: MCW Acquisitions LLC
Project: Acquisition of HydroHoist Marine Group, Inc. and other debt obligations
Financing Amount: $6,500,000.00
Location: Claremore, OK

Description

HydroHoist, helmed by CEO and Cherokee member Mick Webber, used an Indian Affairs loan guarantee to continue its 54-year history of manufacturing, selling, and servicing boatlifts, power pedestals, and other marine-related products.

HydroHoist manufactures the polyethylene tanks and platforms for their marine products at its molding facility RotoMoldUSA. The business has established a strong reputation for quality products and service and continues to expand into other industries with custom rotational molded products such as pallets for the pharmaceutical industry.

Success has not always come easy for HydroHoist. “The marine industry was one of the first to experience a downturn in the economy during the 2007-2009 recession,” Webber said. “Strong leadership, a superior product, robust business practices, and our resilient employees allowed us to outlast the downturn and remain profitable.”

“HydroHoist is very important to our community,” Webber said. “When possible, we use local suppliers to support local businesses. That support generates revenue and additional jobs in our community. This community is where we live, work and raise our families. Our company contributes to the community both money as a corporation and time volunteering at various organizations.”

HydroHoist plans to continue providing employment and supporting families in Northeast Oklahoma and improving the recreational boating experience for its customers.

Additional Information

Related Pages

Contact Us

Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
9:00 a.m. – 5:00 p.m. EST, Monday–Friday
DCI@bia.gov
(202) 219-0740

ILGP Borrower Success Story: Glacier Peaks Hotel

The breathtaking mountains of Glacier National Park frame the background of the hotel property, located on the Blackfeet Indian Reservation.

Success for the hotel was not easily achieved, and similar to many first-time economic development ventures, it required perseverance.

Details

Outside the hotelDate of Commitment: May 1, 2013
Type of Service: Loan Guarantee
Lender: Native American Bank
Borrower: Blackfeet Hospitality Enterprises
Project: Financing the building structure and operations of the Glacier Peaks Hotel as a turnkey Plant, Property, and Equipment business.
Financing Amount: $5,500,000.00
Location: Browning, MT

Description

Thanks to an loan guarantee supported by the Indian Loan Guarantee and Insurance Program (ILGP), the Blackfeet Tribe fulfilled one of its economic development visions by building the Glacier Peaks hotel in 2013. The breathtaking mountains of Glacier National Park frame the background of the hotel property, located on the Blackfeet Indian Reservation.

Success for the hotel was not easily achieved, and similar to many first-time economic development ventures, it required perseverance. During the first three years of the hotel’s operation, the tribe was able to overcome several obstacles that often plague new hotel ventures. Since 2016, the hotel has been managed by The Siyeh Corporation, an economic development and management company owned wholly by the Blackfeet Tribe.

The hotel is an attractive, modern structure, within easy walking distance of other tribal businesses. It offers more amenities than any other lodging facility on the east side of Glacier National Park. “Many services that would usually be outsourced to another town can now stay within our own community,” said Dennis Fitzpatrick, Siyeh CEO. “We have the capability to host many different types of events, like meetings, conferences, trainings, weddings, and other special events.”

The hotel has had a positive effect on the community and has brought a sense of pride to the Blackfeet people. The hotel provides 25 full-time jobs on the Blackfeet Reservation and has inspired other economic development opportunities nearby, such as restaurants and shops.

Additional Information

Related Pages

Contact Us

Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
9:00 a.m. – 5:00 p.m. EST, Monday–Friday
DCI@bia.gov
(202) 219-0740

ILGP Borrower Success Story: Tomco-Harwel Industries

Tomco-Harwel Industries Inc. (THI) expanded its business by purchasing Summit Industries.

The acquisition of Summit was an opportunity for growth, but the transition also caused significant financial challenges. In 2008, THI began working on a refinance through the Indian Loan Guarantee and Insurance Program (ILGP) program. As a result, THI was able to gain a larger line of credit, a better rate and term, and manageable payments without fees.

Details

Date of Commitment: 2008Tomco Harwel Industries building
Type of Service: Loan Guarantee
Lender: Local Bank
Borrower: Company Owners
Project: Industrial and Janitorial Supply Company
Financing Amount: $1,200,000
Location: Tulsa, OK

Description

Tomco-Harwel Industries Inc. (THI) began as a small chemical supplier in 1983 and has become a viable contender in several facets of the contract packaging and contract manufacturing business. In 2008, THI expanded its business by purchasing Summit Industries. Summit Industries manufactures cleaning and specialty chemicals for the food and beverage industries, janitorial industries, and industrial products under the Summit Professional and Summit Green labels, as well as private labeled product.

The acquisition of Summit was an opportunity for growth, but the transition also caused significant financial challenges. In 2008, THI began working on a refinance through the Indian Loan Guarantee and Insurance Program (ILGP) program. As a result, THI was able to gain a larger line of credit, a better rate and term, and manageable payments without fees. THI is proud of their Summit product line and our distributors. They strive to give our distributors the product support and training that will make them successful. THI/Summit offers private branding and custom manufacturing for specific needs.

“The Indian Loan Guarantee could not have come at a better time. We were able to successfully ride out the economic dip that began in 2008 and continue to make a profit and increase our employee base from 8 to 10 employees, with occasional temporary help for busy times,” said Tracy Crow, THI President.

Additional Information

Related Pages

Contact Us

Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
9:00 a.m. – 5:00 p.m. EST, Monday–Friday
DCI@bia.gov
(202) 219-0740

ILGP Borrower Success Story: Buffalo Lanes Bowling Alley

The Buffalo Lanes bowling alley is located in Sisseton, SD on the Lake Traverse Reservation, home of the Sisseton Wahpeton Oyate.

The bowling alley provides a top notch bowling facility, quality activities, and events along with exceptional service and personal attention to their guests.

Details

Type of Service: Loan Guarantee
Lender: Peoples State Bank
Project: Skating Rink Conversion to Bowling Alley
Financing Amount: $505,000
Location: Sisseton, SD

Description

The Buffalo Lanes bowling alley is located in Sisseton, SD on the Lake Traverse Reservation, home of the Sisseton Wahpeton Oyate.

Funding for this project was guaranteed through the Indian Loan Guarantee and Insurance Program (ILGP).

The bowling alley provides a top notch bowling facility, quality activities, and events along with exceptional service and personal attention to their guests.

“There has been a great response from the community since it opened,” said Louis Johnson, chairman of the Buffalo Lake District. “It provides community members with a fun activity to do, especially during winter months when Sisseton experiences extremely cold temperatures.”

Additional Information

Related Pages

Contact Us

Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
9:00 a.m. – 5:00 p.m. EST, Monday–Friday
DCI@bia.gov
(202) 219-0740

Bayview General Merchandise, Inc.

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Rosebud Economic Development Corporation (REDCO)

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Cook Inlet Tribal Council, Inc.

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Tomco-Harwel Industries

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