DENVER — Native American Bank (NAB) today announced it has provided credit and capital to support the renewed fish processing enterprise of the Metlakatla Indian Community (MIC) in Metlakatla, Alaska.
The Annette Island Packing Company (AIPCo), which had previously operated for nearly a century, is in the process of revitalization after ceasing operations in 2018. It is preparing to fully reopen as the primary processor for tribal fishermen in the waters south of Ketchikan.
The financing will support the renovation and reactivation of the plant, as well as the new purchase of equipment and capital for seasonal inventory. AIPCo purchases vast quantities of fish—notably the salmon that thrive in Annette Island streams and the surrounding waters—from tribal fishermen for processing.
In the renovated plant, AIPCo will also freeze-dry salmon for Ksa Hoon Pet Treats, a Native-owned company founded by Ts’msyen people of the MIC. Ksa Hoon (“just fish” or “only salmon” in the Ts’msyen language, Sm’algyax) treats are 100% salmon, and shipped to dog and cat lovers all over the world.
The loans are guaranteed by the Alaska State Small Business Credit Initiative (SSBCI) program. This program is managed by the Alaska Small Business Development Center (SBDC). The SSBCI program helps distribute federal funds to banks and other institutions to provide loans that grow businesses, create jobs and strengthen local economies.
“The expansion of AIPCo operations is a quintessential SSBCI project,” said Alaska SSBCI Director Jay Halverson. “It’s an honor to support the work of leaders who are building for the future and grounded in time-honored traditions. “
“Native American Bank has a longstanding relationship with the Metlakatla Indian Community,” said Payton Batliner (Cherokee Nation of Oklahoma), senior vice president and chief lending officer for Native American Bank. “Providing capital for AIPCo is the kind of deal that’s at the heart of our mission: supporting local economies and empowering self-determination that promotes sustainable growth and jobs.”
The Annette Island Packing Company operates on the Ts’msyen people’s Annette Islands Reserve, the only native reservation in the state of Alaska.
Photo credit: Jack Darrell/KRBD
Contact:
Veronica Lane, Native American Bank
Vice President, Marketing Director
[email protected]
720-963-5515
About the Metlakatla Indian Community
Metlakatla Indian Community (MIC) improves the lives of our members and preserves heritage and culture through self-governance, self-sufficiency, and strengthened tribal sovereignty. We encourage progress while honoring our ancestors and protecting land and water for future generations. We promote sustainability, develop economic and social opportunities, and implement effective governance to enhance our members’ safety, health, and welfare.
About Native American Bank Native American Bank, N.A.—a certified Community Development Financial Institution (CDFI)—is the nation’s only multi-Tribally owned national community development bank. Native American Bank supports the communities that it services, and has received an “outstanding” score on the most recent Community Reinvestment Act (CRA) exam.