Emergency Loan Program

GUIDELINES

• Emergency loans shall be made to retain home ownership and to maintain or obtain shelter and/or basic utilities.
• Applicants must be Cherokee Tribal members and live within the Cherokee Nation Jurisdictional Boundaries.
• Interest rate is 7.5%, maximum amount is $2,500.
• Loan length is flexible depending on each applicant’s personal financial situation.
• Applicants must show that a temporary situation has caused their emergency and that they will be able to maintain future shelter and utilities, as well as make their emergency loan payment.
• Decisions on loan applications are usually made within two days after all necessary documents are submitted.
• Collateral is required in an amount at least equal to the loan request amount.

PROGRAM

Emergency loans are available for Cherokee Tribal Members who live within the Cherokee Nation’s jurisdictional boundaries, and who’s situation will seriously effect the applicant’s basic living conditions such as, critically past due property taxes, foreclosure or eviction notices on homes, or cut off notices for utilities.

APPLICATION

1. Complete all of the boxes on the application.
2. List all "Liabilities". This includes all types of payments made on a monthly basis.
3. Sign and date application.

EMPLOYMENT VERIFICATION

1. Submit the form to your personnel department or supervisor for completion of bottom section of form.
2. If you are self-employed, or receive governmental assistance to supplement your income, please provide current tax forms or letter from the agency from which you receive your support to verify your income.
3. All applicants, including co-signers will be required to submit a verification of employment.

COLLATERAL

1. Submit a list with complete descriptions of collateral you will offer.
2. Descriptions should include copies of deeds on property, copies of vehicle titles, brand name, color, type, and serial numbers for furniture, appliances, television sets, and VCR’s.

ADDITIONAL INFORMATION
(To be submitted along with application)

1. Copy of Certificate Degree of Indian Blood (CDIB) card.
2. A brief written statement explaining the need of the loan.
3. Documentation supporting your need.(E.G., cut off notice for utilities, etc.)

PROCESSING

1. Return all information to the Credit and Finance Department. Incomplete applications cannot be processed.
2. Emergency Applications will be reviewed as soon as possible and answers are generally received in 1-2 days.

If you have any questions, please contact our staff at (918) 456-0671, extension 2536 or 2524 or (800) 256-0671, extension 2536 or 2524.