Service

Small Business Loans

The CDFI will make loans to entrepreneurs and commercial enterprises, or instead refer potential borrowers to other traditional sources of financing from banks, which offers several types of loan products. The CDFI will make referrals to banks, other lenders, or grant programs but will also offer introductory-level small business lending. Pricing and terms are variable.

Loan Pricing

Loan	Interest Rate
Prime	+1 - 4%
Maximum loan amount	$250,000

Qualifications:

Loan applicants must be a citizen or employee of the Jamestown S’Klallam Tribe and at least 18 years of age. You are ineligible for this program if you are currently on a written warning, probation, or on any type of FMLA or if FMLA is planned for the near future.

One-On-One Financial Session:

A credit report will be pulled for every application for the purpose of supplying a one-on-one financial session with a certified credit counselor. Approval of this loan is based on your favorable employment status, but credit will be considered for the interest rate.

Terms and Loan Amount:

The interest rate on all Credit Builder Loans will be fixed between 5% – 10% for the term of the loan and the following is the
interest matrix:

Loan Interest Rate

3 year secured 5%
3 year unsecured +2%
Each additional year +1%

Probationary employment term completed:

30, 60, or 90 days
Payroll deduction is available for JST employees.

The fees are included in the loan and do not have to be paid up front:

1% – Closing Cost Fee
$25.00 – Application Fee
$30.00 – Credit Report Fee – All loan participants will have a credit report pulled and will participate in a credit
counseling session as may be deemed necessary by JST Capital.

Loan Renewal Fee:

$100.00 – Charge for renewals will be charged if loan meets criteria as a renewal loan.

Required Documents:

30- day current paystubs or other source of income
Driver’s License and Tribal ID
Voided Check or Direct Deposit Form from active checking or savings account
Please note that the failure to bring in these documents will delay the loan process.

Loan Process:

Loan applicant must complete ALL of the boxes on the enclosed application.
Sign and date the application.
Return all information to the JST Capital office, 123 N. Sequim Ave., Sequim, WA. 98382.
Typically completed applications received will be processed and reviewed by the Credit Committee within ten
business days. It is typical to not receive any communication from the loan provider until a date is known for
your closing. If there is a problem with your application, you will be notified immediately.