Commerce Services

Loan Programs

LOAN TERMS as of March 16, 2020

Prime Currently 3.25%

	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	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	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	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 New York Prime Lending Rate, as stated in the Wall Street Journal on the date of closing.

*** Loan rating is contingent upon the client’s collateral coverage, credit history, cash flow stability, equity investment, and business qualifications.

Downloads

Commercial Business Loan Supplemental
305.4 KB -- Updated:5/29/2019

This document contains tools for developing your own personalized business plan.
Credit Application
424.2 KB -- Updated:8/12/2020

Commercial business loans require the submission of the credit application.
Employee Loan Application
1.6 MB -- Updated:8/12/2020

This application is to be used if you are an employee of the Cherokee Nation.
Quick Facts Commercial
144.5 KB -- Updated:4/7/2020

The Commercial loan program exists to enhance and secure the financial well-being of Cherokee people, businesses and communities.
Quick Facts Consumer
170.3 KB -- Updated:4/7/2020

Consumer loan programs provide affordable access to financing and promote family self-sufficiency through budget counseling and credit counseling.