Commerce Services

Loan Programs

LOAN TERMS as of July 31, 2019

Prime Currently 5.25%

 

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
    This document contains tools for developing your own personalized business plan.
  • Credit Application
    Commercial business loans require the submission of the credit application.
  • Employee Loan Application
    This application is to be used if you are an employee of the Cherokee Nation.
  • Quick Facts Commercial
    The Commercial loan program exists to enhance and secure the financial well-being of Cherokee people, businesses and communities.
  • Quick Facts Consumer
    Consumer loan programs provide affordable access to financing and promote family self-sufficiency through budget counseling and credit counseling.