A Solution to High-Cost Debt or No Credit
The credit builder loan is often times the first step for Native people on the path to asset building. This consumer loan is designed to help individuals build a positive credit history and can also be used to consolidate high-cost debt, such as payday loans or title loans. Usually, the credit builder loan product is coupled with financial education and credit coaching services (if applicable) so that individuals and families gain the critical foundational knowledge and skills needed to successfully manage assets. Many members of the Great Plains Native Asset Building Coalition offer credit builder loans in their respective communities.
Cheyenne River Reservation
Four Bands Community Fund offers a Credit Builder Loan of up to $3,000 to qualified applicants to help rebuild credit by paying off debt.
Crow Creek Reservation
Hunkpati Investments’ Credit Builder Loan is designed for those with past credit problems or no credit history. The Credit Builder Loan adds an active line of good credit of up to $2,500 while repaying bad debt to dramatically improve a credit score for Crow Creek community members who need to establish or reestablish good credit.
Pine Ridge Reservation
The Lakota Funds Credit Builder Loan has a maximum amount of $2,500 and can be used to pay off dings in your credit such as garnishments, written off loans, or other collection items. Download a loan application.