Sometimes you need a helping hand.

We believe every business owner needs to have some "skin in the game" - money you're willing to risk. Sequoyah Fund, like other lenders, will not assume the full risk of your business if you are not willing to assume any risk. Therefore, we require that you have 15% of your total project cost available as "owner's equity." In other words, if your start-up costs are $10,000, we would require you to have $1,500 of owner's equity to pair with our loan of $8,500.

Yes, we will ask you to pledge business and personal assets to secure a loan. Offering assets such as your automobile, home, or other real estate makes us feel that you are as confident in your business as you would like us to be. Typically, we like to have spouses guarantee the debt to show there is family support of the business.

We require loans to be 100% collateralized. In other words, we need $10,000 worth of collateral for a $10,000 loan. Enrolled members in the EBCI may use per capita distributions as a portion of your collateral, but it cannot be used to fulfill the 100% requirement.

Any partner or principal in the business who owns at least a 20% stake MUST sign a personal guaranty for a business loan.

A business plan is necessary for start-ups and can be very useful for existing businesses, especially when major changes are planned. A business plan does not have to be lengthy, but should outline your goals and business direction. Our application packet includes lists of questions to be answered during the application process. It is important for us to be clear on the history of the business and where you see it going; how the business operates and brings in customers; and how the use of the loan funds will fit in with the other financial aspects of the business.

For existing businesses seeking short-term loans of 12 months or less, we will typically require a current business budget, the contract you need to complete, and/or project scope so we can understand how you will use the money and how it will be repaid.

We can connect you with a qualified small business counselor who can help you write a thorough business plan.

This depends on how much money you are requesting, how complete your loan package is, whether real estate is involved, and other factors. Our board meets once a month to make decisions on loan requests over $35,000, so our process does take longer than some other financing avenues. Small "emergency" loans can be completed in as little as 24-48 hours, but larger, more complex loans may take 60-90 days or more.

Start-up loans can take longer to approve because the business has no track record or financial history on which to bases a loan decision. Because of this, we will be looking into your total household finances, examining the quality of your business plan, scrutinizing the capacity of your business concept to generate cash, and other factors. Don't be surprised if we request more supporting documentation along the route to a decision. This may include a draft lease, letters of intent, contracts, or other documents.

We do not assist in the completion of the application package, but we can put you in touch with a qualified business counselor who can help you compile all the information we'll need to make a timely decision.

Once your loan is approved, we immediately begin moving toward loan closing. Depending on the size and complexity of your loan, the status of your collateral, and other factors, this process can range from just a few days to over a month.

If you are an enrolled member of the EBCI and will be using real estate on the Qualla Boundary as collateral, we recommend contacting the BIA (Bureau of Indian Affairs) as soon as you apply for your loan, since this often initiates a lengthy process that Sequoyah Fund cannot control.

Your Account Manager will communicate regularly with you to make sure the process moves as quickly as possible.