$1,750,000 NAB loan a significant milestone to tribal business
September 22, 2003


Denver, CO -- In a time when the U.S. economy has been somewhat uncertain for small businesses, Mandaree Enterprise Corporation, (MEC) looks upon a bright future. A new line-of-credit totaling $1,750,000 from Native American Bank will allow the 100% tribally owned enterprise of the Three Affiliated Tribes on the Fort Berthhold Indian Reservation to develop and expand its business opportunities.

Native American Bank President John Beirise stated, “The establishment of this relationship with Mandaree Enterprise Corporation represents an expansion of our business with not only the Fort Berthold communities but with Indian communities in general. The fact that a successful enterprise such as Mandaree has selected NAB for its growing needs is a significant testimony to our ability to serve Indian Communities”.

Formerly known as Mandaree Electronics Corporation, MEC was established in 1990. The company initially had built its infrastructure through a mutually beneficial working relationship with Northrop Grumman Corporation, and then later participating in the Department of Defense Mentor-Protégé Program with Northrop, where the company was involved in manufacturing electronic components for front-line military weapon systems.

Throughout the next several years MEC put various multi-million dollar contracts in place. The Chief Executive Officer of MEC, Clarence O’Berry, says, “The company is at an exciting stage of its life and continues to break new ground”.

Noting that the loan agreement with NAB is a huge milestone for the company, O’Berry further says, “This is only the second time in MEC’s history that a tribally-owned enterprise has successfully acquired an operating loan based “solely” on its own operating procedures and financial strengths as a stand-alone business.

Historically, O’Berry notes, it’s been extremely difficult for tribally-owned businesses, especially ones located within the Indian reservations, to successfully establish and grow long-term business ventures. Many of these businesses are destined to fail. They are either under capitalized, have poor business locations (rural), are under-nurtured and forgotten about, or have staff and management with little previous or relevant experience. Many times tribal businesses do not understand the importance of these key elements and this leads to failure in the business world.

With its corporate Headquarters located in Mandaree, North Dakota, the company has efficiently and creatively diversified its business operation to include providing information technology services, hardware/software and supplies for both large corporate businesses and the federal government. Through a successful diversification, the company has expanded its operations to include four other facilities, which are located in White Shield and Parshall, North Dakota, Washington, D. C. and Cincinnati, Ohio.

The company has positioned itself to benefit from several small business initiatives and partnerships with well-known companies such as Northrop Grumman Corporation, Blue Cross and Blue Shield, Staples (Office Supplies) and International Business Machines (IBM).

MEC’s success is also evident through the many national recognition awards, which include twice receiving the Administrator’s Award of Excellence from the U.S. Small Business Administration, being a three time recipient of the national Tribal Enterprise of the year award, and a two time winner of the prestigious Department of Defense Nunn-Perry Award.

Native American Bank is a federally chartered bank that is owned by Native American Bank Corporation, a bank holding company that has been organized by a group of Tribal Nations and Alaska Native Corporations. The Mission Statement of NAB is: “Pooling Indian Economic Resources to Increase Indian Economic Independence”. The Native American Bank’s primary function is providing Indian Country with a commercial bank that offers expertise in the unique aspects of doing business in Indian Country.

Native American Bank’s corporate offices are in Denver, Colorado, 999 18th Street, Suite 2460, Denver, CO 80202; (303) 988-2727; fax: (303) 988-5533, and its principal banking office is located in Browning, Montana, 125 North Public Square, P.O. Box 730, Browning, MT 59417; (406) 338-7000; fax (406) 338-7008; toll free (800) 307-9199.