The Siletz Tribal Business Corporation (STBC) provides administrative support for the Siletz Small Business Loan Program provided for Confderated Tribes of Siletz Indians enrolled members. Our support includes answering questions about eligibility and loan procedures, helping you prepare your application and accepting/processing your application materials.
Loans are only available to businesses where a Tribal member is at least a 51% owner of the business.
Below, please find more information about the Siletz Small Business Loan program, downloadable application materials and the application procedures. For more information about the Siletz Small Business Loan Program, please contact our program manager:
Michael Phillips
Enterprise Specialist
Siletz Tribal Business Corporation
Office: (541) 994-2142 Fax: (541) 994-8973
It is highly reccommended that every loan applicant take or be signed up for business classes and access and fully understand their credit score and report before finalizing their loan application. For more information on specific educational and financial resources please refer to the Training and Resources webpage.
Training and Resources
Thank you for your interest in the Siletz Small Business Loan Program. Here are some important things that you should know before applying for a Business Loan. A downloadable business loan information letter is available in MS Word and PDF formats. Click the link to download the file to your desktop.
Siletz Tribal Business Loan awards are for up to approximately $10,000. These loans have a grace period of one month before payment is expected. Interest is assessed at the prime rate of +1% fixed at the time of closing. Interest will begin to accrue in the 1st month of the loan. In addition, there will be a $10 monthly payment service fee. Collateral may be required.
- Loans may be used for equipment and other start-up expansion costs. Refinancing will be allowed on business related debts. Loans may not be used for owner or business related payoffs, using loan funds.
- The application process requires a business concept description and a set of financials that approximates a business plan suitable for financing from a standard lender and any other information required.
- Loans are only available to businesses where a Tribal member is at least a 51% owner of the business.
- For help with developing a business plan, contact our program manager, Michael Phillips at (541) 994-2142.
A loan application will be completed by the applicant and submitted to the Siletz Tribal Business Corporation (STBC) for processing. The loan application must include a:
- Business plan (For help with developing a business plan, contact our program manager, Michael Phillips at (541) 994-2142.
- Completed credit authorization and loan application
- Proof of the ability to secure all required licenses
- Permits and insurance
If the application is approved through the Siletz Tribal Revolving Credit Program (STRCP), the applicant will be required to sign a Business Loan Note that describes the client’s responsibilities in the loan process. This includes agreeing to participate in services that represent the best combination of resources to serve the client. The applicant will also have the opportunity to meet the STRCP board.
Successful applicants shall provide STBC with quarterly financial reports for the first year of business activity unless otherwise indicated. The loan will be administered through Oregon Cascades West Council of Governments. All payments are to be made electronically, and on time for the duration of the loan.
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