Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Lac Vieux Desert Band bolsters lending business with acquisition of service firm

 


The Lac Vieux Desert Band of Lake Superior Chippewa Indians in Michigan has acquired a company that has provided services to its online lending operation.

As part of the deal, the tribe is paying seven figures up front for Bellicose Capital and will make annual payments for up to seven years. The purchase gives the tribe more control of its lending business, which represents a major part of its economy.

"This transaction is, without question, the most important economic development in the history of our tribe," Tribal Chairman James Williams, Jr., said in a press release. "It is always a testament to our growth as a tribe and as entrepreneurs when we are able to complete transactions like the purchase of Bellicose. It shows the world that we have laid the foundation – through knowledge, training, and infrastructure investments – to further the livelihoods of our tribal citizens."

http://www.indianz.com/News/2016/020194.asp

 

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