LDF Business Development Corp.

What LDF Business Development Corp. does

LDF Business Development Corp. is the non-gaming economic development arm of the Lac du Flambeau Band of Lake Superior Chippewa Indians, founded in 2012 and headquartered in Lac du Flambeau, Wisconsin. The BDC operates as a diversified tribal holding company with eleven operating subsidiaries spanning online lending (LDF Holdings), grocery retail (Ojibwe Market and LDF Country Market), precision instrumentation manufacturing (Simpson Electric, established 1934), fiber-optic broadband (Eighth Fire Communications), campground and marina hospitality (LDF Campground & Marina), tribally-owned radio broadcasting (WLDF The Torch), sports bar and grill (The Flame Bar & Grill), a Popeyes franchise in Minocqua, a Workforce Training and Business Development Center, federal 8(a)-certified construction services (LDF Construction), and a homeownership coordination program (Endaya). The underlying technology stack is heterogeneous: an online lending platform operating across multiple states with call center support and banking/ACH integrations, state-of-the-art fiber-optic network infrastructure, and digital media platforms, supported by a CardPointe payment processing integration.

The business model is a multi-stream portfolio generating revenue through interest and fees on online loans (subscription/recurring), point-of-sale retail and restaurant transactions (transaction fees), monthly broadband subscriptions, construction contracts (one-time and government set-asides), radio advertising, workforce training fees, and construction/homeownership coordination services. Pricing is not publicly disclosed across most subsidiaries; lending, construction, and broadband use quote-based pricing, while retail is set by competitive market rates. Go-to-market spans three motions: enterprise field sales (government construction contracts, Simpson Electric industrial sales, and tribal retail); direct-to-consumer (retail stores, restaurants, campground, broadband, and radio advertising); and API-first digital distribution (the online lending platform). The BDC serves a captive local consumer base of more than 1,000 daily Tribal Enterprise employees, regional Northwoods tourists, underserved borrowers nationwide, federal and state government agencies, and global industrial customers through Simpson Electric. Headcount grew from 78 employees in FY 2015-16 to 100+ by 2019 and is currently in the 101-250 range, with the FY 2015-16 audit reporting 22% job growth, 78% revenue growth, and 9% asset growth. Growth has been funded through operations, tribal investment, and federal/state contracts rather than external venture capital.

Name

LDF Business Development Corp.

Legal name

Lac du Flambeau Business Development Corporation

Website

https://ldfbdc.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

LDF Business Development Corp. is a tribally-owned holding company and the non-gaming economic arm of the Lac du Flambeau Band of Lake Superior Chippewa Indians, operating eleven subsidiaries across online lending, retail grocery, broadband, construction, radio, hospitality, and workforce training to drive diversified revenue and economic self-determination for the tribe.

Ownership category

akta.pro rank

Headquarters

HQ city

Lac Du Flambeau

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Online Lending (LDF Holdings): LDF Holdings operates online tribal lending entities (TLEs) providing loan products to underserved individuals throughout the United States. Revenue is generated through interest and fees on loans, operating a call center in Lac du Flambeau and online lending entities launched over five years ago.
2. Retail Grocery and Convenience (Ojibwe Market / LDF Country Market): The Ojibwe Market and LDF Country Market operate retail grocery stores offering fresh produce, meat, seafood, bakery, deli, frozen foods, dairy, snacks, beverages, fuel stations, smoke shops, and liquor under one roof. Revenue is generated through point-of-sale retail transactions from local residents, Tribal employees, and tourists.
3. Campground, Marina, Bait Shop, and Tavern: LDF Campground & Marina provides waterfront access, RV sites, tent camping, marina services, a full-service bait shop (open year-round including ice fishing), and the Tacklebox Tavern. Revenue is generated through campsite rentals, marina fuel sales, bait and tackle sales, and food/beverage sales at the tavern.
4. Restaurant and Bar (The Flame Bar & Grill): The Flame Bar & Grill operates a sports bar and restaurant in downtown Lac du Flambeau offering elevated comfort food, a full bar with local craft beers and signature cocktails, live music, and sports viewing. Revenue is generated through food and beverage sales year-round.
5. Construction Services (LDF Construction): LDF Construction provides construction services and was awarded a $1,015,000 federal 8(a) construction contract by the U.S. Department of Agriculture Forestry Service. It operates as a BDC business unit and partners with Tri-North Builders. Revenue is generated through government and private sector construction contracts.
6. Radio Broadcasting (WLDF The Torch): WLDF The Torch is a tribally-owned radio station providing music, local news, sports, weather, cultural programming, and advertising opportunities. Revenue is generated through advertising sales to local businesses.
7. Broadband Internet (EighthFire Communications): EighthFire Communications provides high-speed fiber-optic internet to residential and business customers in Lac du Flambeau, offering flexible plans from light browsing to heavy data usage. Revenue is generated through monthly internet service subscriptions.
8. Fast Food Franchise (Popeyes Minocqua): Popeyes Louisiana Kitchen in Minocqua operates as a tribally-owned franchise along the Hwy 51 corridor, serving the full Popeyes menu including chicken sandwich, crispy tenders, Cajun fries, and biscuits via dine-in and drive-thru. Revenue is generated through food and beverage sales to local residents and tourists year-round.
9. Homeownership Services (Endayan): Endayan is a community-focused homeownership initiative connecting future homeowners with trusted partners for financing, land, utilities, and construction. Revenue model involves coordinating the homeownership process as general contractor for home construction.
10. Workforce Training and Business Development (Workforce Training Center): The Workforce Training and Business Development Center provides workforce training, professional development courses, entrepreneurial support, job placement services, and trades/apprenticeship programs. Revenue is generated through training programs and business development services.
11. Precision Instrumentation and Test Equipment (Simpson Electric): Simpson Electric manufactures and sells panel meters, test equipment, digital instruments, and custom solutions for industrial, commercial, and residential sectors globally. Founded in 1934, the company generates revenue through product sales to manufacturing, utilities, aerospace, and other industries.

Go-to-market motion3 records

Distribution channels9 records

Marketing channels6 records

Core offering

LDF Business Development Corp. is a diversified tribal holding company that owns and operates eleven subsidiary businesses spanning financial services, retail, hospitality, construction, manufacturing, communications, and workforce development. Core offerings include online consumer lending through LDF Holdings, full-service grocery and fuel retail under Ojibwe Market, tribally-owned fiber-optic broadband via Eighth Fire Communications, precision instrumentation manufacturing through Simpson Electric (est. 1934), and a federally-certified construction unit (LDF Construction).

Product overview

LDF Business Development Corp. operates as a diversified tribal holding company with a portfolio of eleven distinct business entities spanning financial services, retail, hospitality, construction, communications, media, and workforce development. The core portfolio includes LDF Holdings (online lending), Ojibwe Market and LDF Country Market (grocery retail), LDF Campground & Marina (recreation), Simpson Electric (instrumentation manufacturing), Workforce Training and Business Development Center (education), Eighth Fire Communications (broadband internet), WLDF The Torch (radio broadcasting), The Flame Bar & Grill and Popeyes Minocqua (restaurant/hospitality), and Endaya (homeownership program). Additional entities include Little Pines LLC, Gitigaan LLC, and Land Back Property Management LLC. The company was created in 2012 as the non-gaming economic development arm of the Lac du Flambeau Band of Lake Superior Chippewa Indians.

Differentiator

Problem solved

Functional benefit

Brands

• LDF Holdings: Tribal online lending entity providing loan products and financial services, operating in multiple states with call center in Lac du Flambeau
• Ojibwe Market
• LDF Campground & Marina
• Simpson Electric
• Workforce Training and Business Development Center
• Eighth Fire Communications
• WLDF The Torch
• The Flame Bar & Grill
• Popeyes Minocqua
• Endaya

Products and services

• LDF Holdings Online Lending Online lending business operating Tribal Lending Entities that provide loan products to underserved individuals across multiple U.S. states, leveraging banking and ACH affiliations with call center support based in Lac du Flambeau.
• Ojibwe Market Tribally-owned full-service grocery store offering fresh produce, meat, seafood, deli, bakery, frozen foods, dairy, snacks, beverages, fuel station, smoke shop, and liquor under one roof, serving local residents, Tribal employees, and tourists.
• LDF Campground & Marina

Quantifiable outcome

• 22% growth in jobs during FY 2015-16 audit period, reaching 78 employees
• +3 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

14 partnerships are on record, tiered core and minor.

• U.S. Department of Agriculture Forestry ServicecoreOthers · 12 November 2019Awarded LDF Construction a $1,015,000 federal 8(a) construction contract — the first federal 8(a) contract for LDF Construction and the fourth federal construction project overall.
• Vilas County Economic Development CorporationcoreStrategic or Co-development Partner · 21 February 2019Co-hosted the Opportunity Zone Summit in Lac du Flambeau alongside LDF BDC, bringing together regional thought leaders, tribal agencies, developers, and investors. Partnered on identifying qualified Opportunity Zone projects and development opportunities.
• Wisconsin Housing & Economic Development Authority (WHEDA)coreStrategic or Co-development Partner · 21 February 2019Collaborated as an event collaborator on the Opportunity Zone Summit, providing expertise on Opportunity Zone structure, benefits, guidelines, and investment enhancer tools such as New Market Tax Credits for Wisconsin-based Opportunity Funds.
• Wisconsin Native Loan FundcoreStrategic or Co-development PartnerEndayaan homeownership initiative partners with the Wisconsin Native Loan Fund to assist individuals with financing opportunities and determining homebuying budgets as the first step in the homeownership process.
• Lac du Flambeau Land ManagementcoreStrategic or Co-development PartnerEndayaan partners with Lac du Flambeau Land Management (Tribal Land Management and Realty Services) to help individuals identify and approve a lot where their home will be built.
• Lac du Flambeau Community Health / Indian Health ServicescoreStrategic or Co-development PartnerEndayaan coordinates with Lac du Flambeau Community Health Department to determine eligibility for well and septic services through Indian Health Services, supporting utility infrastructure for new homes.
• Wisconsin HomescoreStrategic or Co-development PartnerWisconsin Homes serves as the home builder partner for the Endayaan homeownership program, providing quality, affordable housing options designed to meet the needs of the Lac du Flambeau community.
• Growth North / Oneida County Economic Development CorporationminorStrategic or Co-development PartnerParticipated as collaborators on the Opportunity Zone Summit, representing regional economic development agencies supporting Opportunity Zone investment in northern Wisconsin.
• Husch BlackwellminorImplementation/ SI/ Consulting PartnerAttorney Hal Karas of Husch Blackwell Milwaukee served as an expert presenter at the OZ Summit, discussing Opportunity Zone fund structures, types, and likelihood of investment in various regional Opportunity Zones.
• SpringstedminorImplementation/ SI/ Consulting PartnerMikela Hout of Springsted served as an expert presenter, providing guidance on how municipalities can become 'investor ready,' including site certification, development surveys, and Investment Ready Prospectus creation.
• FindorffminorChannel Partner/ Reseller/ DistributorOne of Wisconsin's largest contractors with a working relationship with LDF Construction resulting from the federal 8(a) and state MBE certifications obtained, representing a potential partnership for future construction projects.
• Tri-North BuildersminorStrategic or Co-development PartnerLDF Construction partnered with Tri-North Builders where applicable to build the new retail center structure housing LDF Country Market's grocery, gas, smoke shop, deli, and convenience offerings.
• WIPFLi (Certified Public Accounting Firm)minorOthersWIPFLi, a certified public accounting firm, conducted the independent financial audits of BDC (FY 2015-16 audit), concluding that BDC Executive Management submitted accurate financial reports and that financial processes follow generally accepted accounting principles.
• Native American Financial Services Association (NAFSA)minorStrategic or Co-development PartnerLDF Holdings participates in NAFSA, attending conferences and visiting Washington DC to meet with the Consumer Financial Protection Bureau. NAFSA's Director of Policy and Research authored a guest post on Opportunity Zones in Indian Country referencing the LDF BDC.

Scale indicators9 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Ho-Chunk, Inc. Ho-Chunk, Inc. is the economic development corporation of the Ho-Chunk Nation of Wisconsin, operating a similarly diversified portfolio of tribally-owned businesses including retail, gaming, hospitality, and government contracting. Highly comparable given shared Wisconsin tribal context and analogous holding-company structure.
• Forest County Potawatomi Economic Development Corporation: Economic development arm of the Forest County Potawatomi Community in Wisconsin, operating tribally-owned enterprises across hospitality, retail, and real estate. Closely comparable as another Wisconsin tribal BDC diversifying beyond gaming.
• Oneida Nation Enterprises: Oneida Nation's diversified tribal enterprise portfolio in Wisconsin, spanning gaming, retail, hospitality, and food service. Highly comparable operating geography and diversified non-gaming enterprise strategy to LDF BDC.
• Stockbridge-Munsee Community Economic Development: Tribal economic development operations of the Stockbridge-Munsee Band of Mohicans in Wisconsin, with diversified business holdings. Comparable as another Wisconsin-based tribal BDC pursuing non-gaming revenue diversification.
• Lac Vieux Desert Band Economic Development: Lac Vieux Desert Band of Lake Superior Chippewa Indians in Wisconsin operates tribal lending (Mobiloans) and other economic enterprises. Direct peer in tribal online lending and Wisconsin tribal economic diversification.
• Great Plains Lending (Otoe-Missouria Tribe): Tribal online lending entity operated by the Otoe-Missouria Tribe, providing installment loans to underserved borrowers across multiple states. Direct peer to LDF Holdings in the online tribal lending space.

Broad incumbents

• Mohegan Tribal Gaming Authority: Mohegan Tribe's diversified enterprise holding company spanning gaming, hospitality, and entertainment on a much larger scale. Comparable as a tribal-owned diversified holding company, but operates at materially larger scale and focuses on gaming-centric properties.
• Hard Rock International (Seminole Tribe): Seminole Tribe's gaming, hospitality, and entertainment enterprise operating on a global scale. Comparable as a tribally-owned diversified holding company, though vastly larger and gaming-focused.

Others

• Fluke Corporation: Leading manufacturer of professional test and measurement instrumentation serving industrial, electrical, and HVAC markets globally. Comparable to Simpson Electric as a peer in the precision instrumentation segment of the BDC's portfolio.

Regional players

• Red Lake Inc. (Red Lake Nation): Tribal economic development operations of the Red Lake Nation in Minnesota with diversified tribally-owned businesses. Comparable as another Upper Midwest tribal BDC pursuing non-gaming revenue diversification, though geographically distinct.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/lacduflambeaubdc
• LinkedInlinkedin.com/company/lacduflambeaubusinessdevelopmentcorporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LDF Business Development Corp.