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Small Business Assistance Center Loan Programs

The Cherokee Nation Economic Development Authority lends to businesses and individuals located within the contiguous 14 counties of the Cherokee Nation (Adair, Cherokee, Craig, Delaware, McIntosh, Mayes, Muskogee, Nowata, Ottawa, Rogers, Tulsa, Sequoyah, Wagoner and Washington). Loan rates and terms vary based on the type of loan, collateral pledged, need and the credit worthiness of the borrower. For information please call Brian Wagnon at 918-453-5531 or email brian-wagnon@cherokee.org

 

LOAN TERMS as of 07/07/2017

Prime Currently 4.25%

 

 

X

Loan Size

Loan Term

(based on conservative remaining life of collateral and cash flow)

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

*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 client’s collateral coverage, credit history, cash flow stability, equity investment and business qualifications

Credit Application

 TitleModified DateSize 
Commercial Business Loan Supplemental7/2/2013647.00 KBDownload
Credit Application7/2/2013135.24 KBDownload
EMPLOYEE LOAN APPLICATION 11/8/20161.38 MBDownload