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Page | 1 REVISED August 22, 2018
Commercial Loan
Application
MVSKOKE LOAN FUND 2951 N. WOOD DRIVE, SUITE 126, P.O. BOX 580, OKMULGEE, OK 74447
www.MvskokeLoanFund.org | Office 918-549-2603 | Fax 918-732-7913
Page | 2 REVISED August 22, 2018
Our Mission: It is the mission of the Mvskoke Loan Fund to foster the entrepreneurial growth and financial
well-being of its citizens throughout the State of Oklahoma by providing comprehensive culturally appropriate
financial education/asset building, business development training services and access to capital serving as a permanent, sustainable community finance resource promoting job and entrepreneurial growth.
Our Vision: The Mvskoke Loan Funds creates a competitive advantage through business development services and financing opportunities; and advances demand-driven Indian entrepreneurship.
Purpose of Loans: Business Startup, Business Acquisitions and Business Expansion
Loan Maximum: $50,000.00
Loan Terms: Up to five (5) years (Certain Loans may be amortized for longer periods).
Interest Rate: Calculated based on credit score/credit rating analysis. Interest Rates are subject to vary according prime interest rates of the Federal Reserve.
Fees: All closing fees, filing fees associated with collateral, and loan origination fees will be paid by the
borrower during the loan closing process.
Use of Loan Funds: Acquisition of Real Property, Building, Leasehold Improvements, Machinery &
Equipment, Organizational Expenses, Inventory & Supplies, Working Capital and on occasion, Debt
Refinancing (evaluated on a case-by-case basis).
Training and Technical Assistance: Mvskoke Loan Fund Staff are available to provide training and
technical assistance to those interested in starting a new business or expanding an existing business. Technical
assistance may include preparation of loan materials, market research and competitive analysis, writing a
business plan, calculating your startup costs, funding your business, launching your business, choosing a
business structure, business name availability, registering your business, obtaining federal and state tax ID
numbers, apply for licenses and permits, opening a business bank account, obtaining business insurance, credit
counseling, tribal government and contract employee support, or referral to cooperating/partnering
organizations.
Eligibility: Applicants must be at least 18 years of age, a member of a federally recognized Indian tribe, and
reside in the service area of the Muscogee (Creek) Nation jurisdiction. Applicants must submit a loan
application and business plan. Applicants must demonstrate that they can inject at least 20% of equity capital
(cash, other assets, or sweat equity) into the proposed business. Any applicant with outstanding delinquent,
federal, state or tribal debts are not eligible for Business Loans. Certain applicants may be required to have an
environmental review of their business project. Applicants are required to pledge collateral as security for
repayment of the loan and are subject to a credit check. Business Insurance will be required until the note is
paid in full. Loan closing fees are required at the time of closing.
Page | 3 REVISED: August 22, 2018
Ineligible Businesses: Illegal activities, speculation in real estate, stock market or assets, lending, pyramid
or networking business, limited agriculture related items (other than aquaculture), antenna facilities, tourism, or
gambling.
Loan Review and Disclosures: We are not a bank, but we do utilize basic lending guidelines when
reviewing a loan application. However, we are more flexible in how we apply those guidelines to our decision
making process. When evaluating a loan request, we generally review the following factors (and others, as
appropriate):
CREDIT REPORT – While good credit is important, the Mvskoke Loan Fund recognizes that
applicants may have had credit issues in the past. We attempt to be more flexible than a traditional
lender when reviewing your credit.
COLLATERAL – Collateral is considered a secondary source of repayment in the event cash flow of
the business proves inadequate to repay the loan. Collateral demonstrates that applicant believes in the
business and is willing to commit something of value to ensure payment. The Borrower shall maintain at
all times a Collateral Coverage Ratio of at least 1.25 to 1.00.
EQUITY – Applicant should have something at risk in the business. For a startup, it may be cash or
equipment or other assets owned by applicant or business before the loan request.
CASHFLOW/PROFITABILITY – Because these components are the primary sources for repayment
of a loan, we review financial statements to determine cash-flow and profitability.
Mvskoke Loan Fund Team
Christopher Coburn, Chief Executive Officer | 918-549-2608 | ccoburn@mcn-nsn.gov
Robby Deere, Compliance & Lending Officer | 918-549-2605 | robbyd@mcn-nsn.gov
Erick Starr, Business Development Officer | 918-549-2606 | estarr@mcn-nsn.gov
Galeene Dixon, Finance Officer | 918-549-2603 | gdixon@mcn-nsn.gov
**We are located on the 1st Floor of the housing building**
PHYSICAL ADDRESS | MVSKOKE LOAN FUND |
2951 N. WOOD DRIVE, STE 126 | OKMULGEE, OK 74447
Fax Number: 918-732-7913
MAILING ADDRESS | P.O BOX 580 | OKMULGEE, OK 74447 |
ATTN: MVSKOKE LOAN FUND
Page | 4 REVISED August 22, 2018
The items below will serve as a checklist to ensure you have included all of the items necessary to make your
loan proposal complete.
□ Completed application form, signed and dated
□ Credit authorization, signed and dated
□ Business Inquiry and Business Sales Information
□ Personal Financial Statements on each principal
□ Resume of each principal
□ Statement of Source and Use of Funds
□ Breakdown of Machinery & Equipment and Inventory & Supplies
□ Detailed list of collateral now available and being acquired with loan proceeds
□ Copy of Certificate of Incorporation, if available (please attach)
□ Business Plan (please attach)
□ Proposed marketing/advertising materials, and list of prospective customers (please attach, if available)
□ Cash flow projections for the first 36 months of business operations (please attach)
□ Copies of last three years federal income tax returns on each principal (please attach copies)
□ Tribal I.D and State I.D (please attach copy)
START-UP BUSINESS REQUIREMENTS
Page | 5 REVISED August 22, 2018
APPLICANT INFORMATION
Legal Name: Last First Middle Maiden
Social Security Number Date of Birth Gender
Co-Applicant Name: Last First Middle Maiden
Co-Applicant: Social Security Number Date of Birth Gender Driver’s License #
Driver’s License Number Community Cell Phone #
Marital Status: Complete ONLY if applying with spouse jointly or if requesting a loan secured by collateral in a community property state. Single □ Married □ Divorced □ Separated □ Widowed □
Number in Household Ages Relation
Current Address (Street, City, State, Zip) How long? County
Previous Address (Street, City, State, Zip) How Long? County
Amount Requested: Requested Funding Date: Requested Repayment Period:
Loan Purpose:
Loan Program (Artist, Employee, Consumer, Commercial Business Loan over $25K, Micro Business Loan)
EMPLOYMENT INFORMATION
Current Employer Address (Street, City, State, Zip) How long? Telephone #
Position or Title Hourly Wage Monthly Gross Income $ Monthly Net Income (Take Home)$
Previous Employer Address (Street, City, State, Zip) How long? Telephone
Position or Title Hourly Wage Monthly Gross Income $ Monthly Net Income (Take Home)$
Co-Applicant: Current Employer Address (Street, City, State, Zip) How long? Telephone #
Position or Title Hourly Wage Monthly Gross Income$ Monthly Net Income(Take Home)$
REFERENCES
Please list three (3) references for Applicant and Co-Applicant, with the first one being the nearest relative that lives outside the home. Name and Address Telephone Number Relationship
1
2
3
Page | 6 REVISED August 22, 2018
ADDITIONAL INFORMATION
IS ANY OF THE INCOME LISTED ABOVE LIKE TO BE REDUCED BEFORE THE CREDIT IS PAID? Yes □ No □
HAVE YOU PREVIOUSLY RECEIVED A LOAN FROM MLF? IF YES, WHEN? Yes □ No □
HAVE YOU COMPLETED TRAINING RECOMMENDED BY MLF? Yes □ No □
IF YES, WHAT IS THE TRAINING COMPLETION DATE? ARE CERTIFICATES ATTACHED? Yes □ No □
DO YOU HAVE HEALTH CARE COVERAGE? IF YES PLEASE LIST THE PROVIDER: Yes □ No □
DO YOU OR ANY MEMBER OF YOUR FAMILY CURRENTLY WORK FOR MUSCOGEE CREEK NATION OR AN OF ITS ENTITIES?
Yes □ No □
HOUSEHOLD INCOME
Monthly Income $ After taxes Monthly Expenses $ After Taxes APPLICANT’S SALARY RENT OR MORTGAGE ON RESIDENCE
SPOUSE’S SALARY AUTOMBILES
BONUS/COMMISSIONS INSTALLMENT LOANS
ALIMONY & CHILD SUPPORT ELECTRICITY, WATER, OIL, & GAS
INVESTMENT INCOME FOOD
REAL ESTATE INCOME INSURANCE
PUBLIC ASSISTANCE ALIMONY & CHILD SUPPORT
OTHER EDUCATION
OTHER TAXES OTHER THAN FEDERAL
OTHER ENTERTAINMENT
OTHER MEDICAL EXPNSES (INCL INSURANCE PREMIUMS)
MONTLY INCOME MONTHLY EXPENSES
MONTHLY DISPOSABLE INCOME = MONTHLY INCOME LESS MONTHLY EXPENSE
OTHER INFORMATION
*NOTE: Alimony, Child Support, or Separate Maintenance Income need NOT be revealed if you do not wish to have it considered as a basis forRepaying the LoanALIMONY, CHILD SUPPORT or SEPARATE MAINTENANCE INCOME is received or paid under the following:
COURT ORDER □ WRITTEN STATEMENT □ ORAL UNDERSTANDING □
IS ANY OF THE INCOME LISTED ABOVE LIKELY TO BE REDUCED BEFORE THE CREDIT IS REPAID? YES □ NO □
ARE YOU A CO-MAKER / CO-SIGNER, ENDORSER, OR GUARANTOR ON ANY LOAN OR CONTRACT YES □ NO □
IF YES, FOR WHOM? TO WHOM? AMOUNT $
ARE YOU OBLIGATED TO MAKE ALIMONY, CHILD SUPPORT, OR MAINTENANCE PAYMENTS NOT DISCLOSED ABOVE
YES □ NO □
IF YES, FOR WHOM? NAME ADDRESS AMOUNT $
DO YOU OWE ANY LOCAL OR FEDERAL TAXES? IF YES, PLEASE LIST AMOUNT: $ YES □ NO □
DOES ANYONE HAVE A DAMAGE CLAIM AGAINST YOU? IF YES, PLEASE LIST AMOUNT: $ YES □ NO □
Page | 7 REVISED August 22, 2018
APPLICANT INFORMATION
Please initial by each item in the space provided that you agree with the statement. If you need additional space
attach to this application.
1. I understand that should my loan be approved, prior to closing, MLF will charge a CLOSING FEE
in the amount of 3% of the funded amount.
2. I give my permission for MLF to check my credit and employment history and to contact landlords,
creditors, and other individuals and institutions detailed within this Loan Application.
3. I have never filed for bankruptcy protection. (If you have, please give date and status:
4. There are no outstanding judgements against me. (If there are, give the amount you be obligated to
pay:
5. I am not currently a party to a lawsuit. (If you are, please explain:
6. Ethnicity: Please Choose A or B below:
□ A. I do not wish to furnish this information. “The following information is requested by the
Federal Government for certain types of loans, in order to co monitor the lender’s compliance
with equal credit opportunity. You are not required to furnish this information, but are
encouraged to do so. The law requires that a lender may neither discriminate on the basis of this
information nor on whether you choose to furnish it. However, if you choose not to be furnish it,
under Federal regulations, this lender is required to note /ethnicity on the basis of visual
observation or surname. If you do not wish to furnish the above information, please check the
box below.” “This is an Equal Opportunity Program, Discrimination is prohibited by Federal
Law. Complaints or discrimination may be filed with the USDA, Director, Office of Civil
Rights, Washington, DC 20250.”
□ B. Please CHECK one: □ CAUCASION □ HISPANIC □ AFRICAN AMERICAN
□ NATIVE AMERICAN (TRIBE: )
7. I certify that EVERYTHING I have stated in this Application and any attachments is correct.
By singing below, I AGREE to the above. Co-Applicant’s signatures are required if co-applicant shares
ownership of the assets or is a party to obligations disclosed in the Application for a loan from MLF.
Applicant’s Signature Date
Co-Applicant’s Signature Date
Page | 8 REVISED August 22, 2018
The undersigned hereby authorizes Mvskoke Loan Fund/Creek Nation or any of their affiliates to make all
inquiries with credit bureaus and others it deems necessary to verify the accuracy of the information provided
herein, and to determine the credit worthiness. Further, the undersigned hereby certifies that the enclosed
application information including all attachments, exhibits, schedules, and supporting documents are valid,
accurate and complete as of the stated date. These statements are made for the purpose of obtaining a loan. The
undersigned hereby further certifies that the proceeds of any loan made as a result of this application will be
used for business purposes only.
Name (Print)
Date of Birth
Social Security Number
Current Address
Signature
Date
Name (Print)
Date of Birth
Social Security Number
Current Address
Signature
Date
APPLICANT CERTIFICATION & CREDIT AUTHORIZATION
Applicant
Co-Applicant
Page | 9 REVISED August 22, 2018
1. Please fill out the following info: Business Name:
Business Address: Business phone number:
2. Briefly describe the type of product or service your business will offer.
3. Is your business:
□ Start-up, projected starting date / /
□ Existing, currently operating since / /
4. What type of industry: (Please check all that apply).
□ Service □ Retail □ Construction □ Transportation
5. What is the legal structure:
□ Sole Proprietorship
□ Partnership (please include a copy of partners’ names and addresses)
□ Corporation (please include a copy of article of incorporation)
□ Limited Liability Company (please include a copy of article of incorporation)
6. Please list state and/or federal licenses your business is required to have in order to operate. Do you
currently have this license?
a. Is a city of town privilege license required? Yes □ No □
i. If yes, do you have this license? Yes □ No □
7. Will this business operate:
Full-Time □ Part-Time □ Seasonally □
8. Not including yourself, this business will currently employ:
a. Full-Time employees #
b. Part-Time employees #
9. What is the average number of hours per week you are working?
□ 25hrs or less □ 25hrs - 40hrs □ 40 or more
10. Why did you choose to be in business?
11. Please describe your experience in this type of business.
12. Have you previously owned a business? If yes, why are you no longer in that business?
BUSINESS INQUIRY
Page | 10 REVISED August 22, 2018
13. Will this business be your primary source of income? Yes □ No □
14. What are your business goals for the first year of operation?
15. Are you currently employed outside of this business? Yes □ No □
16. If yes, please provide employer’s name, address and telephone number.
17. What are your work hours?
18. What is your job title?
19. How long have you been employed with the above employer? Years Months
a. If less than 2 years please list previous employer and position: /
20. Do you plan to keep this job while operating your business? Yes □ No □
This information should be actual sales data for existing business and projected sales data for proposed businesses. Applicants may
be asked to verify this information.
1. What is your average sale amount per customer? $
2. How many customers do you serve each day? #
3. Approximately how many days are you open each month? #
4. What are your total monthly sales? $
5. What are your total monthly expenses? $
6. What and how much is your three greatest expenditures each month?
7. What are your lowest sales months? (Circle all that apply)
Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec.
8. When is your peak season? Fall Winter Spring Summer
9. Will this business pay you a salary? If yes, how much will it pay you each month?
BUSINESS SALES INFORMATION
Page | 11 REVISED August 22, 2018
PERSONAL FINANCIAL STATEMENT
Please provide us with information about your current economic situation. If you need more space than provided, attach additional sheets. Please fill out one for each individual who owns 20% or more of the business
ASSETS LIABILITIES
Amount
Cash in Checking Account(s): $
List Financial Institution(s)
Cash in Savings Account(s): $
List Financial Institution(s) and account number:
Automobile(s): Year/Make/Model Value
$
$
$
Personal Property: $
Real Estate: $
Address:
Other Assets: $
(Please Describe:
Balance
Credit Cards
Company Name: $
Company Name: $
Company Name: $
Company Name: $
Vehicle Loans, Liens, and Leases
Company Name: $
Vehicle Make: $ Company Name:
$
Vehicle Make: $
Company Name: $
Vehicle Make: $
Mortgages on Real Estate: $
Other Loans
Lending Institution(s):
$
$
Friends: $
Others: $
TOTAL: TOTAL:
Have you ever declared bankruptcy or had any judgments against you? If yes, please attach an explanation.
Yes □ No □
Do you owe any unpaid taxes? If yes, please list amount and attach an explanation.
Yes □ No □
Page | 12 REVISED August 22, 2018
MANAGEMENT RESUME
PERSONAL INFORMATION:
NAME: SS#
DATE OF BIRTH: PLACE OF BIRTH: RESIDENCE TELEPHONE:
BUSINESS TELEPHONE: RESIDENCE ADDRESS:
FROM: TO PRESENT DATE
SPOUSE’S NAME: SS#
ARE YOU EMPLOYED BY THE U.S. GOVERNMENT? □ YES □ NO AGENCY/POSITION
ARE YOU A U.S. CITIZEN? □ YES □ NO IF NO, GIVE ALIEN REGISTRATION NUMBER
EDUCATION:
High School/College/Tech School/Location Dates Attended Major Degree / Certificate
MILITARY SERVICE BACKGROUND:
Branch of Service Date of Service |
WORK EXPERIENCE: List chronologically beginning with present employment
Company Name / Location
From To Title
Duties
Company Name / Location
From To Title
Duties
Company Name / Location
From To Title
Duties
Signature Date
Page | 13 REVISED August 22, 2018
Statement of Source and Use of Funds
USE OF FUND SOURCE OF FUND
Items Mvskoke Loan Owner's Capital Owner's
Fund Injection - Other Equity
Fixed Assets
Machinery and Equipment
Leasehold Improvements
Organizational Expenses
Sub-Total $ $ $
Prepaid Items and Deposits
Rent Deposit
Utilities ( Heat, Light and
Power) Deposit
Insurance
Taxes, Licenses and fees
Telephone Deposit
Truck Rent Deposit
Other Items and Deposits
Other Items and Deposits
3% to 4% Closing Fee*Sub-Total $ $ $
Pre-Opening Expenses
Advertising
Promotion
Sub-Totoal $ $ $
Inventory and Supplies
Sub-Total $ $ $
**See Breakdown on page 14
Working Capital
Sub-Total $
TOTAL $ $ $
**Breakdown of Machinery & Equipment and Inventory & Supplies
Client will produce quotes or bill of sale for all Machinery & Equipment and
Inventory & Supplies listed before the application is submitted.
QUOTED COST $
TOTAL $
QUOTED COST $
TOTAL $
PLEASE LIST BELOW:
MACHINERY AND EQUIPMENT / COMPANY PURCHASING FROM
1.
2.
3.
4.
5.
6.
7.
INVENTORY AND SUPPLIES / COMPANY PURCHASING FROM
1.
2.
3.
4.
5.
6.
7.
*ATTACH OTHER PAPERWORK IF MORE SPACE IS NEEDED.
Page | 14 REVISED August 22, 2018
Page | 15 REVISED August 22, 2018
This list should consist of items you are willing to offer as additional collateral/security for the loan you are requesting.
Item Description Value Amount Owed Equity Lien Holder Comments
TOTALS $ $ $
LIST OF COLLATERAL
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