Enrolled community members of the Salt River Pima-Maricopa Indian Community age 18 and older.

There is a $150.00 application fee and typically a 2% processing fee. Closing fees will depend on the type and dollar amount of the loan. All fees are payable from loan proceeds at closing.

Currently we have a closed end, fixed rate, installment loan available.

Yes. Two years of personal tax returns are required for new businesses. Existing businesses also have to provide two years of tax returns and possibly other financial information.

Once all required documents have been received and underwriting has been completed, the loan will proceed to the Loan Review Committee for the decision process. Once a decision has been made, you will be notified immediately.

Do I have a business idea that I have a passion for? Do I have a business plan?

To ensure that you will not fall victim to loan fraud, be sure to follow all these steps as you apply for a loan:

• Be sure to read and understand everything before you sign.
• Refuse to sign any blank documents.
• Do not overstate your income.
• Do not overstate how long you have been employed.
• Do not overstate your assets.
• Accurately report your debts.
• Do not change your income tax returns for any reason.
• Tell the whole truth about gift funds.
• Do not list fake co-borrowers on your loan application.
• Be truthful about your credit problems, past and present.
• Do not provide false supporting documents.

Fixed interest rates and flexible term lengths of 2, 3, 4, 5 or 10 year options (depending on type of loan and dollar amount). A fixed loan makes payments predictable and your financial planning easier.

A fixed rate loan provides predictable fixed payments for a set period of time (term). Predictability is especially beneficial in rising rate environments and for situations where you need to accurately plan your expenditures.

The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing expenses and non-housing expenses. Non-housing expenses include long-term debts like car or student loan payments, alimony, or child support. The lender also considers cash available for equity in your business.

A credit bureau score is a number, based upon your credit history that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. In some cases your actual “score” is not considered, rather your overall credit history is taken into consideration.

There are no easy ways to improve your credit score, but you can work to keep it acceptable by maintaining a good credit history. This means paying your bills on time and not overextending yourself by buying more than you can afford.

SRFSI is generally more flexible than conventional lenders in its qualifying guidelines. In fact, SRFSI allows you to re-establish credit if:

• Two years have passed since a bankruptcy has been discharged.
• All judgements have been paid.
• Any outstanding tax liens have been satisfied or appropriate arrangements have been made to establish a repayment plan with the IRS or State Department of Revenue.
• Three years have passed since a foreclosure has been resolved.

Yes, if you prefer to pay debts in cash or are too young to have established credit, there are other ways to prove your eligibility.

Yes! By sending in extra money each month or making an extra payment at the end of year, you can accelerate the process of paying off the loan. When you send extra money, indicate that the excess payment is to be applied to the principal.

Generally, 10% of the loan amount would be required. The larger your down payment (equity in business) the less you have to borrow.

A credit bureau score is a number, based upon your credit history that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. In some cases your actual “score” is not considered, rather your overall credit history is taken into consideration.

There are no easy ways to improve your credit score, but you can work to keep it acceptable by maintaining a good credit history. This means paying your bills on time and not overextending yourself by buying more than you can afford.

Yes. There are fees such as an origination, appraisal, document preparation, credit report, processing, homeowner’s insurance and down payment. You will be given a Good Faith Estimate and Disclosure statements that will elaborate on these fees.

• Be sure to read and understand everything before you sign.
• Refuse to sign any blank documents.
• Do not buy property for someone else.
• Do not overstate your income.
• Do not overstate how long you have been employed.
• Do not overstate your assets.
• Accurately report your debts.
• Do not change your income tax returns for any reason.
• Tell the whole truth about gift funds.
• Do not list fake co-borrowers on your loan application.
• Be truthful about your credit problems, past and present.
• Be honest about your intention to occupy the house.
• Do not provide false supporting documents.