Tribal Council OKs $2.5 million loan to Ilihi

By Dean Rhodes

Smoke Signals editor

Tribal Council approved a loan to Tribal business entity Ilihi LLC not to exceed $2.5 million during a special meeting held on Friday, March 27.

Ilihi will use the money to make a loan to MicroGREEN Polymers Inc. of Arlington, Wash.

MicroGREEN uses its patented Ad-air technology to create the InCycle brand of insulating and temperature-resistant cups made from expanded, recycled water bottles.

Grand Ronde first invested in MicroGREEN in 2013 and received an award from the Native American Finance Officers Association for its $10 million equity investment in the company in April 2014.