A ONE BILLION DOLLAR MILESTONE
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A ONE BILLION DOLLAR MILESTONE

$1,000,000,000.00
A ONE BILLION DOLLAR MILESTONE!



By Sherry Aalto

In his own words, Harvey Yesno, President/CEO of Nishnawbe Aski Development Fund, excitedly expounded on just how absolutely impressed he and their many other distinguished partners are with the growth of what started out to be a small financial lender service to support the development and entrepreneurship of and for First Nations people to what it is today and only in a short 25 year period, (October 2004 – Nishnawbe Aski Development Fund along with all AFI’s in Canada hit a milestone for loans granted – 1 billion dollars.)! Along with NADF other partners of great recognition are Ontario Community Futures Development Corporation, Paro Centre for Women’s Enterprise, Northern Ontario Heritage Fund Corporation, Wawatay Native Communications, Fednor and The Thunder Bay Chamber of Commerce. Other recognized
partners are INAC, KORI, NACCA, CEDC and Thunder Bay Ventures.
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Looking back, 25 years could seem like a long time but Harvey Yesno, who has been with the organization for 17 of those 25 years, believes that they have come a very long way considering the amount of in-depth orchestration for the development of such an important resource. NADF
(Nishnawbe Aski Development Fund), a Non-Profit Capital Corporation, was conceived out of the, not to be understated, need for financial products and services that could and do offer the foundation and support to First Nations people that they may grow economically and be
of service to their communities and the province. With the acceleration of interest in Aboriginal entrepreneurship, job and wealth creation offers spin-offs for communities on or off reserves, rural or urban and remote areas. The entire province and its people benefit from the combined efforts of these established partnerships and very important entities.

The road to job and wealth creation has not always easy though and NADF has had its fair share of extremely difficult obstacles to work through. It can be said that sometimes the trail we blaze can seem a ‘lone’ venture. With budget constraints brought on by government spending cuts, promoting NADF programs and services were and are challenging at times to say the least as with other programs that involve provincial government assists.
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The Vision of NADF: 'To be a sustainable leading Aboriginal owned business and financial services organization.'


The Mission Statement of NADF: 'Enhancing and supporting Aboriginal business and economic development through a range of distinct services.'

Since it’s inception in 1984, NADF was formulated to serve as a development lender to support NAN’s (Nishnawbe Aski Nation) economy. NADF’s primary purpose is and has always been, to provide financial counseling and services for First Nations people who wanted to open
businesses and provide job opportunities for people in their communities. Without NADF, Aboriginal entrepreneurs would hardly ever have realized their dream potentials due to Section 87 of the Indian Act, which prohibited assets located and used on reserve land to be
used as collateral for the purpose of banking. As interest accumulated and support for the corporation expanded, NADF as expanded its service delivery to First Nations communities in the neighbouring territories of Treaty #3, Treaty#5(Ontario portion) and Robinson Superior 1850 and service all Aboriginal heritage groups, including Métis.

During their time of service thus far, NADF has loaned over $25 million in investments to an array of business ventures in our communities. The financial assistance has helped to start up, expand and assist in the operations of over 500 businesses in Ontario. Business ventures
include grocery stores and retail shops, hospitality services and professional services. NADF has helped to create over 2,000 positions of employment in the region, not to mention the dozens more created within the organizations itself through the partnerships with Fenor,
Indian and Northern Affairs Canada (INAC) and The Northern Ontario Heritage Fund Corporation (NOHFC).

More improvements to the community outreach, foreseen the implementation of a branch office in Timmins Ontario in the 1980’s. Along with Aboriginal Business Canada (ABC) the call went out to provide service delivery over an expanded region. The new program of the ABC under the Indian and Northern Affairs Canada now offered eligible clients access to contributions, business information, resource materials and referrals to alternative funding sources. These
services are available to all Aboriginal heritage groups, on-reserve and off-reserve, including those living in urban, rural and remote areas.

One area of new growth for NADF is in the resources of mining and energy along with the expansions of existing businesses structurally and cyclical (life cycle) restoration and reconstruction in the communities of other established businesses.

Over the years, statistics show that when NADF reviewed the numbers for losses as opposed to recovery involving loans, the numbers are very small. Compared to the other big lending institutions, which express higher percentage levels dollar for dollar, for non-recovered loans,
overall, successful business practices by the First Nations entrepreneurs have not only been repaid but are now looking to expand.With such financially vital services and programs available, such as lending, leasing, community and regional planning and resource sector
support, anyone looking to start or grow their business should call NADF or click onto their new website at www.nadf.org for more information. The support and services that NADF provides is delivered through actual physical visits to 89 First Nations communities located across Northern Ontario. NADF wants each and every venture to be a success and that has been proven time after time.

Harvey Yesno shares a vision and that is ‘to become a sustainable leading Aboriginal-owned business and financial organization in Northern  Ontario. Going forward, one of our pressing priorities is to evolve into a ‘self-sustaining organization.’

Success is more than just a word! It is a feeling of justifiable pride and accomplishment and should be shared by all who have taken part in the realization of the perceived vision. Success is not something that should be solely claimed by any one person, entity, corporate body,
faculty or government. But moreover, success is the result of doing something selfless for the greater good of all.

The billion dollars?!,… yes it was a milestone! And that is one measure that demonstrates success but the true success, is in The People!

For more about NADF you may contact Harvey Yesno at (807)623-5397 ext. 17 or e-mail him at hyesno@nadf.org .. Office: Nishnawbe Aski Development Fund, 106 Centennial Square, 2nd Floor, Thunder Bay, Ontario, P7E 1H3. You may also read other interesting facts in the
Wawatay News paper, April 15, 2010 issue.



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