Change Labs receives funding from the Nasdaq Foundation

Tuba City, Navajo Nation (AZ) -- Change Labs has received a grant from the Nasdaq Foundation, which will help support Change Labs’ Kinship Lending program. Kinship Lending is a first-of-its-kind program for Navajo and Hopi entrepreneurs, artisans, and nonprofit leaders operating on Navajo or Hopi land. The unique model is character-based, meaning acceptance into the program prioritizes traditional values of Native American kinship over collateral requirements or credit scores. Accepted participants in the program receive a low-interest business loan, access to a free of charge business bank account, six months of financial education classes with a peer cohort of entrepreneurs, and one year of executive business coaching with experienced Change Labs coaches.

“Kinship Lending is about to go through a significant change and Change Labs is looking to double down on its investment in Navajo businesses. So, this grant is going to help lay the foundation for that change,” Change Labs Executive Director Heather Fleming said.

“This is the first Nasdaq Foundation grant to be awarded on the Navajo Nation, which is a great achievement for Change Labs. We’’re always looking for donors who are interested in building substantial partnerships,” Fleming said. “I’m looking forward to working with the Nasdaq Foundation to strengthen financial literacy amongst entrepreneurs, artisans, and nonprofit leaders across Native communities.”

The Nasdaq Foundation seeks to accelerate progress in diversifying entrepreneurship and empowering a more diverse group of investors. The grant to Change Labs is another step in The Nasdaq Foundation’s mission to democratize financial knowledge so more people can be better equipped to access wealth creation and participate in the capital markets.