Business Loan

Application must be completely filled out every time INCOMPLETE APPLICATIONS WILL NOT BE PROCESSED

TO AVOID DELAYS IN SUBMITTING YOUR APPLICATION TO THE REVIEW TEAM PLEASE INCLUDE THE FOLLOWING:

  • STC requires your mailing address and residence address.
  • Must provide copy of Tribal I.D. Card (must have copy in file to receive funds).
  • All assets must be listed.
  • Include all payments that you are making: credit cards, debt reduction services, collections, child support and student loan payments, etc. (anything that will show up on a credit report).
  • ATTACH CURRENT INCOME VERIFICATION The most recent pay stub for permanent full-time employees. (If you have a co-signer, we need their pay stub also).
  • 2 years of income tax returns must be included for self-employed or seasonal applicants.
  • If STC does not have income verification, we cannot consider your income for loan.
  • Collateral will be needed for any loan over $7000.00.
  • 1-year Business plan must be included.
  • Description of what loan will be used for (purchase equipment, start-up costs, etc.)
  • Copy of Spokane Tribal Business license.
  • Email address if you want your statements emailed.

IF USING A HOME OR PROPERTY FOR COLLATERAL

  • Appraisal of proposed home.
  • Proof of ownership (land), copy of Home Site Lease or Dead of Trust.
  • Title to manufactured or mobile home.
  • Homeowner’s insurance

ALL LOANS THROUGH STC (with or without collateral) ARE SECURED BY FUTURE PER CAPITA PAYMENTS

READ THE FINE PRINT BEFORE SIGNING THE APPLICATION

  • I/We certify that all statements are true and complete and are submitted for the purpose of obtaining credit.

Items considered by Spokane Tribal Credit

  • Monthly payments compared to monthly income (debt to income ratio).
  • Repayment history with Spokane Tribal Credit and your outside credit report.
  • Stability of Income.
  • Credit Score.
  • Job history and type of employment (full-time, part-time, seasonal).
  • Applicant must have a credit score over 600 or excellent Tribal Credit history to qualify for any loan over $5000.00
  • PAYMENTS ARE REQUIRED EVEN WHEN ON LAYOFF OR UNEMPLOYED, IF YOU ARE HAVING A PROBLEM MAKING PAYMENTS CALL FOR ASSISTANCE.