The Hopi Credit Association is not a traditional lender or bank. We are a Native CDFI lender who can work with higher-risk borrowers, including those who do not qualify for bank financing.
Our goal is to provide qualified applicants loan funds needed for various personal needs:
- dental and medical care, acquisition of furniture, tools for job, vehicle repairs, school expenses, and personal use
- to meet the needs of individuals who find themselves in financial difficulty or find the need to consolidate debt to improve their financial status.
- to meet the needs of individuals wanting to improve their financial position by establishing credit.
- to meet the needs of maintaining and operating the family farm, purchase may include purchase of farm equipment, purchase of seed stock and any other use that would enhance the operation of the family farm.
- to meet the seasonal and long-term demand for credit needs present in ranching. Ranching consists of livestock operation wherein the rancher operates year-round. The rancher may purchase livestock, ranching equipment and any other use that would enhance the operation of ranching needs.
The HCA may also implement personal loan specials at a reduced interest rate from time to time such as the Back-to-School Loan.
Download the Personal Loan Application HERE.
Basic Eligibility Requirements:
- Must be enrolled member of the Hopi Tribe
- Must reside on Hopi Reservation full time
- Minimum 6 months employment or other verifiable income such as self-employment, retirement, etc.
Loan Size:
- Up to $5,000.00
- Needs greater than $5,000.00 determined on a case-by-case basis.
Rates:
Fixed Rate: 10 – 18% based on credit history
Fees:
- 3% Loan fee of approved amount
- $15.00 application fee
- $14.00 credit check fee
- $3.00 share cost (1 share for every $100.00 of loan amount)
- Any other direct costs incurred by HCA
Term:
Not to exceed seven years.
Security/Guarantees:
All loans must be secured by collateral (exception: loans $1,000.00 and under on payroll deductions)