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
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
IRP
$100 to $250,000
** 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.
