Friday, August 27, 2010

Micro-loans Available Through Cherokee Nation Program

Cherokee Nation News Release
(918) 453-5378 FAX (918) 458-6181
Cherokee Nation Director of
© Cherokee Nation - All Rights Reserved

Sometimes a small boost is all that’s needed to get a business underway or to help get credit on the right track. That’s the premise behind some of the small business loan programs available now through the Cherokee Nation.

The tribe’s Small Business Assistance Center, located at 17675 S. Muskogee Ave., in Room 105, is now taking applications for micro-loans to help start up a new small business or to improve an existing one, by adding new materials, work tools or merchandise. Credit-builder loans start with amounts as small as $100 and are geared towards artists and home-based businesses. Other types of micro-loans are available as well.

Small business owners or would-be entrepreneurs can get the ball rolling by meeting with one of the SBAC’s business coaches. The borrower must work with the coach to develop a business plan and will be required to attend a business planning workshop before the loan is submitted for approval.

Interested parties may also simply attend an informational workshop hosted by the SBAC to see whether a micro-loan is right for their business. Dates and locations for upcoming workshops include:

     Collinsville— Monday, Aug. 30, from 11 a.m. to 1 p.m. at 1323 W. Broadway St. 

     Kansas, Okla.—Wednesday, Sept. 1, from 6 p.m. to 8 p.m. at the Northeast Technology    Center, 450 N. Highway 59 

     Bartlesville— Friday, Sept. 3 from 1 p.m. to 3 p.m. at 1003 S. Virginia Ave.

To participate in the micro-loan programs, applicants must be a citizen of a federally recognized tribe and must live within the Cherokee Nation’s 14-county jurisdictional area. Other eligibility criteria may apply, depending on the specific program.

For more information please contact Veronica Hix at (918) 207-3955 or e-mail

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