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: 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 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.
• 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.

LOANS THROUGH STC ARE SECURED BY FUTURE PER CAPITA PAYMENTS

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