Clearinghouse CDFI (CCDFI) provided $5,000,000 in financing to Washoe Retail Enterprises for the refinancing of a travel center located on tribal lands in Gardnerville, NV. This financing assists in transitioning the property from its initial New Markets Tax Credit (NMTC) funding phase to a more sustainable financial structure, allowing for continued growth and development.
The Gardnerville Travel Plaza, operated by Washoe Retail Enterprises, serves as a significant community resource, offering essential services such as fuel, convenience shopping, and dining options to the area. CCDFI’s funding supports the tribe’s ongoing efforts to enhance economic self-sufficiency and provide employment opportunities to tribal members. The refinancing enables the tribe to sustain its business operations effectively, ensuring the plaza remains an asset for the community and a source of stable employment.
Washoe Retail Enterprises, backed by the organizational strength and cultural heritage of the Washoe Tribe, continues to play a crucial role in promoting tribal sovereignty and economic independence. This key commercial arm of the Washoe Tribe exemplifies the tribe’s commitment to fostering economic development and community welfare through thoughtful and strategic business ventures.
Read the full story here: Washoe Retail Enterprises
