Commerce Services
Loan Programs
Eligibility: Cherokee Nation Small Business loans are available to startups, existing businesses or those who wish to purchase existing businesses when: at least ONE applicant is a citizen of any federally recognized tribe AND when the business and ALL applicants reside in the 14 Counties of the Cherokee Nation Reservation. If you have questions about eligibility please contact us at sbac@cherokee.org or (918)453-5536.
LOAN TERMS as of May 22, 2023
Prime Currently 4%
|
|
Loan Size |
Loan Term* |
Collateral |
Interest Rate** |
Closing Fees |
|
Micro |
$100 to $25,000
|
Up to 15 years |
Equipment or other property purchased with proceeds of the loan, or personal assets owned by the applicant |
CN Prime, fixed |
2% of loan |
|
Business |
$100 to $500,000 |
Up to 15 years |
Real or personal property; Equipment or other property purchased with proceeds of the loan, or personal assets owned by the applicant |
CN Prime + 1-3% depending on loan rating*** at time of closing; 1-3 yrs fixed thereafter reset annually |
2% of loan |
|
IRP |
$100 to $250,000 |
Up to 15 years |
Real or personal property; Equipment or other property purchased with proceeds of the loan, or personal assets owned by the applicant |
CN Prime + 1-3% depending on loan rating*** at time of closing; 1-3 yrs fixed thereafter reset annually |
2% of loan |
** Loan term based on the conservative remaining life of collateral and cash flow.
** All interest rates are based upon the Cherokee Nation Prime Rate, as set by the CNEDTA Board and reviewed quarterly
*** Loan rating is contingent upon the client’s collateral coverage, credit history, cash flow stability, equity investment, and business qualifications.
***loan rating that is as follows: In accordance with federal laws and U.S. Department of the Treasury policy, the Cherokee Nation Economic Development Trust Authority is prohibited from discriminating on the basis of race, color, national origin, gender, age, or disability.
Downloads
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CNEDTA Commercial Business Loan Application
This document contains the application for all SBAC business loans and information on business planning, budgeting, and setup of legal business structures.
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CNEDTA Consumer Loan Application
This application is to be used for the Cherokee Nation Employee loan program and other Consumer loan programs.
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Quick Facts Commercial
The Commercial loan program exists to enhance and secure the financial well-being of Cherokee people, businesses and communities.
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Quick Facts Consumer
Consumer loan programs provide affordable access to financing and promote family self-sufficiency through budget counseling and credit counseling.
