Cherokee Nation Employee Loan Program

GUIDELINES

• Employee loans shall be made for the purpose of operating expenses and subsistence, for the purpose of aiding the economic status of, and for the purpose of benefiting the employee.
• Applicants must be regular full- or part-time employees of the Cherokee Nation, Cherokee Nation Industries, Cherokee Nation Enterprises, or the Housing Authority of the Cherokee Nation.
• Loans are secured by the employee’s paycheck and the interest rate is 16%.
• Loan term and maximum amount are determined by the applicant’s length of employment.

QUALIFICATIONS

• Must be employed with Cherokee Nation, Housing Authority, CNE, or CNI.
• Must have completed the probationary period.
• Must be permanent fulltime or permanent part time employees.

LOAN AMOUNT - The amount employees are eligible to apply for is determined by the length of employment.

APPLICATION

1. EMPLOYMENT Complete all of the boxes on the application.
2. List all "Liabilities". This includes all types of payments made on a monthly basis.
3. Sign and date application.

VERIFICATION

1. Complete the top section of the form.
2. Submit to your personnel department for completion of bottom section of form.

ADDITIONAL INFORMATION
(to be submitted along with application)

1. A brief written statement explaining the need of the loan.
2. Documentation supporting the need. (e.g., estimates, billing statements, etc.)

PROCESSING

1. Return all information to the Credit and Finance Department by noon on Monday.
2. Completed applications received by the deadline will be processed and reviewed by Credit Committee Members and generally receive an answer the same week (Thursday).
3. Any applications submitted after noon on Monday will be reviewed by the Credit Committee the following week.

if you have any questions, please contact our staff at (918) 456-0671, extension 2536 or 2524 or (800) 256-0671, extension 2536 or 2524.