The Ninth Osage Nation Congress passed several legislative items including $1 million for the ON Permanent fund, $600,000 for the Community Development Financial Institution (CDFI) for loan capital and $506,000 for CDFI operations in the 2025 fiscal year.
During the 2024 Tzi Sho Session, Congress voted to pass the appropriation legislation as part of budgetary business considered for the respective government entities, departments and branches for FY 2025 starting Oct. 1.
Those bills receiving passing votes include:
- ONCA 24-69 (sponsored by Congresswoman Jodie Revard, also Chair of the Congressional Appropriations Committee) is “An Act to authorize and appropriate $1,000,000 to the Permanent Fund.” According to the bill, the $1 million will come from tribal revenue to go toward the Nation’s rainy day fund designated for emergency appropriations that must be authorized by Congressional vote and the Principal Chief’s signature. In the 2023 Tzi Sho Session, the then-Eighth ON Congress also passed a $1 million appropriation for the Permanent Fund as well.
- ONCA 24-77 (Revard) is “An Act to authorize and appropriate the amount of $600,000 to the Community Development Financial Institution (CDFI) for loan capital.” The Nation’s CDFI – known as The Place to Borrow Money (PDM) – will use the funding for customer lending in its newly established operations. On Sept. 20, the CDFI officials welcomed the local and Osage tribal communities to celebrate an official grand opening at its Main Street location in Pawhuska.
- ONCA 24-80 (Revard) is “An Act to provide an appropriation to the Community Development Financial Institution in the amount of $506,727.” According to the bill, $425,707 will go toward PBM’s budget for operation costs including staff salaries, training travel, occupancy, special events and professional fees. The remaining $81,020 will go to the CDFI board budget.
On Sept. 20, the bills passed with unanimous votes and Principal Chief Geoffrey Standing Bear signed the legislation to take effect.
PBM Lending is both a nonprofit and public purpose corporation organized under Osage law. The Osage Nation is the sole member of PBM Lending as a corporation. PBM Lending is tax-exempt and welcomes year-end giving. PBM Lending plans to promote new products and programs such as small business lending, agribusiness lending, consumer lending, and home improvement loans. PBM Lending also offers training courses.
For more information, call (918) 287-0001 or email Info@PBMLending.com. Check out their website at: www.pbmlending.com
