Business Loan
TO AVOID DELAYS IN THE PROCESSING OF YOUR APPLICATION PLEASE INCLUDE THE FOLLOWING:
Application completely filled out and signed
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- 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
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- 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
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- 2 most recent paystubs for all borrowers
- If self employed or seasonal worker, submit 2 years tax returns
Business Plan
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- 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.