Business Loan

TO AVOID DELAYS IN THE PROCESSING OF YOUR APPLICATION PLEASE INCLUDE THE FOLLOWING:

Application completely filled out and signed

• • Include your mailing and residence address
  • All assets must be listed
  • Include ALL payments you are making: rent, auto loans, credit cards, debt reduction services, collections, child support, student loans, etc. (anything that will show up on a credit report)

Copy of Tribal I.D. Card

• • Must be current – Non Expired (if using the old Tribal ID without an expiration date, submit a copy of Driver’s License also)
  • If Co-Signer is Non Tribal member, submit copy of Driver’s License.

Income Verification

• • 2 most recent paystubs for all borrowers
  • If self employed or seasonal worker, submit 2 years tax returns

Business Plan

• • Complete business plan including income projections
  • Description of what loan will be used for
  • Copy of Spokane Tribal Business License
  • Description of Collateral
  • If loan is over $7000, collateral is required

Once we have reviewed your application, we will contact you for further information.

These things are considered by Spokane Tribal Credit in determining the ability to re-pay the loan

• Monthly payments compared to monthly income (debt to income ratio)
• Repayment history with Spokane Tribal Credit (new customer loan amounts will be limited)
• Stability of income
• Credit score
• Job history and type of Employment (full-time, part-time, seasonal)
• All loans are subject to our current lending limits

LOANS ARE SECURED BY FUTURE PER CAPITA PAYMENTS.

PAYMENTS ARE DUE MONTHLY AND ARE REQUIRED EVEN WHEN ON LAY-OFF OR UNEMPLOYED. IF YOU ARE HAVING A PROBLEM MAKING PAYMENTS, CALL FOR ASSISTANCE.