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September 8, 2010

Micro-loans available through Cherokee Nation program

— TAHLEQUAH – Cherokee Nation’s Small Business Assistance Center, 17675 S. Muskogee Ave., 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.

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.



Information: Veronica Hix, 207-3955 or e-mail veronica-hix@cherokee.org.

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