Osage Nation recently launched its $5 million Osage Nation Small Business Program, an initiative made possible by the U.S. Treasury’s State Small Business Credit Initiative.
The program will stimulate the local economy with loans and equity investments for small businesses in Osage County and for businesses owned by Osage Tribal members living anywhere across the United States.
“Osage Nation is an extraordinary community of artists, makers, entrepreneurs and visionaries,” Chief Geoffrey Standing Bear said in a release. “Investing in Osages is a winning strategy to build a more successful economy, and we are proud to launch this program to help our people reach their professional goals.”
The loans are available through participating community banks for business purposes, including startup costs, working capital, business procurement, franchise fees, equipment, inventory and the purchase, construction or renovation of an eligible place of business. Loans can range from $10,000 to $20 million, with a maximum term of loan participation of 10 years.
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Place to Borrow Money, Osage Nation’s Community Development Financial Institution, will provide advisement and one-on-one assistance for applicants to ensure a transparent and successful loan process.
“Osage clients will be best served by contacting PBM directly,” PBM Chief Executive Officer Christopher Coburn said. “We will help them understand the business lending options available and the steps required for funding consideration, and if viable, help them determine which funding option best suits their proposal, whether via PBM or another partner.”
PBM Lending is available by calling 918-287-0001 or emailing info@pbmlending.com, or in person at 100 W. Main St. in Pawhuska. Hours of operation are 8:30 a.m.-4:30 p.m., Monday-Friday.
