Lakota Funds
  • P.O. Box 340 Kyle, South Dakota 57752 USA
  • (605) 455-2500
  • M-F 8:30am-4:30pm

Building Your Credit

The Credit Builder Loan, designed to repair credit damage, is often the first step for many of our clients. This consumer 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.

Eligibility Guidelines:

  • Loan applicant must be an enrolled member, or enrollment pending, of the Oglala Sioux Tribe, be the spouse/partner of an enrolled member of the Oglala Sioux Tribe, or be an enrolled member of another federally recognized tribe.
  • Applicant must have verifiable income for at least six months, completed personal budget, and completed the Personal Financial Skills and Credit When Credit Is Due course.
  • Applicant must have completed a Credit Builder Plan outlining how his/her personal finances will improve.
  • Applicant must have bank account for payments to be automatically withdrawn from.

Requirements: Proceeds of loan will be paid directly to verified past due creditors.

Terms of Loan: Up to 24 months, payable monthly via automatic withdrawal, with fixed interest rate of 15%. Collateral value after discount must be equal to 100% of loan amount.