Commercial Loan Program

Chi Ishobak prides itself in nurturing Tribal entrepreneurs with access to capital for small-business start-ups or expansion. Loans may range from $1,000 to over $35,000. Funds may be used for equipment, inventory, supplies, and/or working capital. Chi Ishobak will guide you through the process of acquiring funding for your business.

There are three categories of commercial loans offered by Chi Ishobak:

• Micro Loan A – Loan amounts $1,000 to $10,000
• Micro Loan B – Loan amounts $10,001 to $35,000
• Small Business Loan – Loan amounts over $35,000

Items Required for Commercial Loans:

Business

• Application
• Business plan with historic and 3 years of financial projections
• 2 years of tax returns
• Current financial statements
• 3 months of bank statements
• Legal formation/incorporation documents – must be 51% tribally owned
• Resumes of key personnel

Personal

• Driver’s License/State ID
• Tribal ID
• 3 Months’ Bank Statements
• 2 Years’ Tax Returns
• 3 Most Recent Pay Stubs
• Personal Financial Statement

What to Expect

To begin your loan application process, you will need to complete and return the Client Intake Form and Business Readiness Questionnaire. These documents give us an idea of where to being with each commercial project. While it is important, you should not feel overwhelmed or worried if your answers are not 100% complete.

How We Evaluate Your Loan Application:

As with most financial institutions, Chi Ishobak evaluates loans based on a set of financial criteria; however, keep in mind that we have additional flexibility when making loan decisions. Our Loan Committee makes loan determinations based on:

1. Credit Report
2. Owner’s Equity
3. Management
4. Current Ratio
5. Debt to Equity
6. Collateral Coverage
7. Personal Guarantees