Financial Services
2722 3rd Ave. No., Suite 250 | Billings, MT 59101 | ph. 406.259.3804, fax. 406.259.4569
Important Reminders
Apply now by downloading the online application. If you need further assistance or have any questions, please contact Ms. Lafferty. Her expertise will assist in providing thorough instructions and technical assistance in completing a loan application. Thoroughly reveiw the check list of documentation required to accompany the loan application. We also strongly encourage all our applicants to complete a sound business plan with detailed and substantiated projections.
NATIVE COMMUNITY DEVELOPMENT FINANCIAL INSITITUTION
Native Community Development Financial Institutions (NCDFI), were developed under the US Treasury’s CDFI Native Initiatives. The Native Initiatives are designed to overcome identified barriers to financial services in Native Communities. The initiatives seek to increase access to credit, capital and financial services in Native communities through the creation and expansion of CDFI’s primarily serving Native communities. NADC is a certified NCDFI, an entity that primarily serves a Native community (at least 50 percent of its activities are directed toward serving Native Americans, Alaska Natives and/or Native Hawaiians). As a NCFDI, NADC is dedicated to providing developmental services such as training and technical assistance in various types of financial services (financial literacy, checking, savings, consumer loans, business loans, housing loans, etc.) to members of Native communities.
The Native American CDFI Assistance (NACA) Program provides the vehicle through which established and emerging Native CDFIs can apply for financial and technical assistance, providing capacity building and technical assistance services for a variety of Native financial training initiatives. The NACA program grew out of a Congressional mandate in 1994 to study lending and investment practices on Indian reservations and other lands held in trust by the United States and the subsequent 2001 Native American Lending Study. The NACA program has helped to increase the number of Native CDFIs from just 14 nationwide in 2001, to 50 in 2008, with another 60 emerging CDFIs pending certification.
CDFI’s can be designed to be more flexible in meeting the needs of their clients in terms and collateral requirements. Native CDFIs then graduate their clients into regulated traditional financial institutions like banks.
The Native American CDFI Assistance (NACA) Program provides the vehicle through which established and emerging Native CDFIs can apply for financial and technical assistance, providing capacity building and technical assistance services for a variety of Native financial training initiatives. The NACA program grew out of a Congressional mandate in 1994 to study lending and investment practices on Indian reservations and other lands held in trust by the United States and the subsequent 2001 Native American Lending Study. The NACA program has helped to increase the number of Native CDFIs from just 14 nationwide in 2001, to 50 in 2008, with another 60 emerging CDFIs pending certification.
CDFI’s can be designed to be more flexible in meeting the needs of their clients in terms and collateral requirements. Native CDFIs then graduate their clients into regulated traditional financial institutions like banks.
Native American Development Loan Program
Loan ProgramThe Native American Development Corporation was established in 1996 to create and administer loan funds to finance American Indian entrepreneurs, build economic infrastructure on reservations and provide technical and resource assistance to American Indian owned businesses. NADC became a Certified Native CDFI in 2001. NADC provides training, technical assistance and small business loans. We are also a lender under The Indian Loan Guaranty, Insurance and Interest Subsidy Program (formerly known as a Bureau of Indian Affairs (BIA Guarantee Loan Program).
NADC offers a variety of loan products including micro and macro (larger) small business loans. This is a loan program and not a grant program. Each loan application is reviewed by a loan committee and each application outlines a business plan, financial statements and projections as well as available collateral. The success of the NADC Revolving Loan Fund Program is reliant on loan repayment for the purpose of relending to more Native businesses. NADC will provide technical assistance as needed in your business endeavors, because your success is our success. Eligibility requires business owners or partners be enrolled members of a federal or state recognized tribe and be 51% owner of the business. | Application ChecklistAll Businesses:
1. __ Loan Application (Signed & Dated) 2. __ Personal Financial Statement (Signed & Dated) 3. __ Information Release Form (Signed & Dated) 4. __ Written Business Plan 5. __ Historical Financial Information (3 yrs/life of business) 6. __ Personal Federal Tax Return (3 years) 7. __ Business Federal Tax Return (3 years) 8. __ Monthly projected cash flow (2 years) 9. __ Current Business Balance Sheet 10. __ Projected Business Balance Sheet (after 1 yr. of operation) 11.__ Resumes of Key Personnel 12.__ Aging of Accounts Payable and Accounts Receivable 13.__ Credit Report (with money orders) 14.__ Tribal Affiliation, Enrollment Number & Certificate of Indian Blood If Applicable: a).__ Appraisal or Valuation of Land and / or Building b).__ Lease Agreements c).__ Buy / Sell Agreements d).__ Written Cost Estimates for Construction e).__ Commitment Letter from Bank / Other Lender f).__ Personal Financial Statement for Personal Guarantee (3 year tax returns) g).__ Information Release Form for Personal Guarantee h).__ Corporation Papers I).__ Relevant Business Licenses J).__ Bonding(over 500,000) |
Loan Application Process:
| How to Apply for a LoanFully complete the application and mail to Native American Development Corporation – 2722 3rd Ave. N., Suite 250
Billings, MT 59101 
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