Credit Builder Program
Purchase a car
WHAT IS THIS PROGRAM?
People's Partner for Community Development offers Credit Building assistance to clients who are looking to re-build their damaged credit, or clients that have no credit and want to establish their credit. Clients can apply for a Credit Builder loan up to $5,000. The loan proceeds will be used to pay off adverse accounts shown on the clients credit report.
WHAT ARE THE ELIGIBILITY REQUIREMENTS?
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Loan applicant must live on or within 25 miles of the Northern Cheyenne Reservation boundaries.
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Applicant must have verifiable income for at least six months, completed personal budget, and completed the Credit Builder Workshop or Financial Fitness class.
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Applicant must have completed a Credit Builder Action Plan.
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Applicant must have a bank account for payments to be automatically withdrawn from, or use payroll deduction if applicable.
MORE INFORMATION
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Proceeds of the loan will be paid directly to verified past due creditors.
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Clients can pay monthly or bi-weekly on their loan via automatic withdrawal or payroll deduction.
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Interest rate on the loan is 12%.
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Collateral may be a requirement to secure the loan.
Imagine using a Credit Builder loan to build your credit and be able to purchase a reliable vehicle for you and your family.