Supporting self-governance through infrastructure development
Today, Indian Country continues to face a critical shortfall in infrastructure investment, with housing, hospitals, schools, roads and bridges in urgent of need repair or replacement.
- The Bureau of Indian Affairs (BIA) reported that deferred maintenance costs for its transportation infrastructure — including roads, bridges, and railroad crossings — have escalated to approximately $2.3 billion.1
- The average age of Indian Health Services (IHS) hospitals is four times older than the average U.S. hospital, which is about 10.6 years old. Additionally, approximately 61% of IHS medical buildings are rated in fair or poor condition.2
- As of October 2024, 66 Bureau of Indian Education (BIE) schools remained classified as being in poor condition. The average cost to replace each of these schools is $101.4 million.3
- Recent reports indicate that nearly 48% of households on Native American reservations lack access to reliable water sources, clean drinking water, or adequate sanitation facilities.4
- More than 200,000 housing units are needed to meet the needs of Native communities.5
- It is widely acknowledged that a significant portion of housing in Indian Areas are considered inadequate or derelict.6
Tribal government infrastructure projects
Types of projects KeyBank provides capital for:
- Road construction
- Qualified Tribal economic development projects
- Water and utility infrastructure
- Power generation and transmission
- Broadband access
- Tribal government buildings
- Hospitals and clinics
- Schools
Capital-raising expertise
KeyBank’s expertise includes the following products and structures:
- Tribal economic development (TED) bonds
- Tax and utility revenue bonds
- Hybrid revenue and general obligation pledge structures
- Investment-secured credit facilities
- General obligation tax-exempt financing
- Priority distribution bonds
- Federal loan guarantee programs
Fast facts about Key’s Native American Financial Services (NAFS)
70+
years in Indian Country
$3B+
in credit commitments
Dedicated team specializing in serving the needs of Tribes and Tribal Enterprises
$2.5B+
in deposits
>200
relationships with Native American Tribes and Tribal Enterprises
$4.5B
in investment assets for Tribes and their Minors Trusts
$20B
in credit commitments raised as left or right lead arranger
KeyBank solutions
KeyBank has demonstrated expertise in providing financing solutions for Tribal infrastructure. Below are projects we have financed in Indian Country.
Navajo Nation
The Navajo Nation issued $52.9 million in debt to build a judicial and correctional center on Navajo land. KeyBanc Capital Markets facilitated the issuance of this unsecured Tribal general obligation tax-exempt bond, which received an S&P “investment grade” rating. This was among the first ever bond of this type issued by a Native American Tribe.
Stillaguamish Tribe
The Stillaguamish Tribe issued $22 million in tax-exempt debt to construct a Tribal Administration Building and a Natural Resources Facility. The Tribe worked with Key to lever the tax revenue it generates to secure financing for these two projects that provide essential services for Tribal members and protect the salmon runs along the Stillaguamish River.
Pascua Yaqui Tribe
Key closed on a $15M tax-exempt loan for the Pascua Yaqui Tribe in Arizona. Loan funds are being used for construction of a new 100,000-square-foot medical facility on Tribal Trust land.
Supporting Native America
NAFS actively supports these and other organizations that promote the interests of Indian Country:
- National Congress of American Indians
- The National Center for American Indian Enterprise Development
- Native American Finance Officers Association
- National Indian Gaming Association
To learn more, contact us
Whatever your goals or plans might involve, we offer assistance and support through our financial tools and firsthand experience. We look forward to speaking with you and encourage you to contact us.
