Consumer Loan Program
Chi Ishobak understands that traditional lending institutions (banks, credit unions, etc.) may not be an option for everyone. It is Chi Ishobak’s goal to provide Tribal Citizens with an avenue other than payday loans or predatory lending organizations with high-interest rates for automobile purchases and credit building efforts. This program is designed not only for immediate transportation needs but also for long-term family capacity building.
Not sure how to get started? Watch this quick explanation:
Auto Loan
8% – 12% Interest*
Loan funds may be used for the purchase, repair & re-financing of an automobile.
What to Expect
Once you start your application, you will be able to track every step of the process in our Lender Fit application. You’ll have a checklist of everything you need to qualify for your loan, so there’s no confusion along the way. The system will also send you reminders when necessary to keep your application on track.
Documents You’ll Need
To process your application, you will need to gather the following documents:
- Proof of Income
- Valid Driver’s License (required for all auto loans)
- Tribal ID or Employee ID
- Bank Statement
- Purchase Agreement (for a purchase) or 10-day Pay off Statement (for refinancing)
* Interest rates are based upon the applicant’s credit score for automobile loans.
Loan Processing Fee Due at Loan Closing
- Loan disbursement under $2,000: Fee of 5% of the loan amount
- Loan disbursements of $2,000 to $5,000: Fee of $100
- Loan disbursements over $5,000: Fee of $150
Personal Loan
12% Interest
Loan funds may be used for personal expenses up to $5,000.
What to Expect
Once you start your application, you will be able to track every step of the process in our Lender Fit application. You’ll have a checklist of everything you need to qualify for your loan, so there’s no confusion along the way. The system will also send you reminders when necessary to keep your application on track.
Documents You’ll Need
To process your application, you will need to gather the following documents:
- Proof of Income
- State ID or Driver’s License
- Tribal ID or Employee ID
- Bank Statement
- Proof of Insurance
Additional Requirements
To qualify for the Personal Loan, you must sign up and complete the Online Financial Wellness Module. Lender Fit will ask you to upload your certificate of completion.
Loan Processing Fee Due at Loan Closing
- Loan disbursement under $2,000: Fee of 5% of the loan amount
- Loan disbursements of $2,000 to $5,000: Fee of $100
- Loan disbursements over $5,000: Fee of $150