Four Directions Development Corporation
 

Mission
The mission of the Four Directions Development Corporation (FDDC) is to improve the social and economic conditions of the tribal members of the four Maine tribes by investing in affordable housing, tribal business ventures and small and medium size businesses.

Service Market
FDDC serves members and families of the four Native American Tribes in Maine: the Passamaquoddy Tribe (representing two reservations), the Penobscot Indian Nation, the Houlton Band of Maliseet Indians, and the Aroostook Band of Micmac Indians. Most tribal members and territories are concentrated in Aroostook, Penobscot, and Washington counties, some of the state’s poorest and most remote places. Already limited opportunities for home ownership, home improvement, and self-employment in these areas are further constrained by tribal land restrictions and the limited credit histories and low financial literacy of many tribal members.

Goals
Four Directions Development Corporation was conceived to respond to the particular credit and information needs of tribal members. Our goals are to:

• Increase homeownership among tribal members

• Improve the quality of housing for Native peoples

• Increase the number of Native-owned businesses

• Raise the levels of financial literacy among tribal members

• Build the business skills of Native entrepreneurs

• Attract and leverage capital to Indian Country

Philosophy of Loan Programs
At its heart, the FDDC is a non-profit revolving loan pool intended for the benefit of tribal members and their families and in which tribal members have a shared interest and responsibility for the success and continuation of the fund. Loan products are offered at the lowest possible costs in order to benefit low and low-to-moderate income borrowers, as defined by applicable Federal guidelines. The program adheres to standards of diligence and accountability appropriate both to the tradition and culture of Native American peoples and the requirements of the global financial community. In short, FDDC seeks to help eligible tribal members not only to access needed capital, but to use that capital effectively in meeting their housing and small business financing goals, and to repay that capital in a timely fashion. This balanced focus is essential in order to build both the credit of individual borrowers and the pool of loan capital available to all Native Americans in Maine.

At this time, FDDC loan products are only available with fixed interest rates for the term of the loan. Loans are priced at a rate sufficiently above the cost of funds to support administrative and servicing expense, educational and development programs, and a contingency for loan losses.

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