Unlike a traditional loan, funds are held in a secured account while monthly payments are made. After the loan is repaid, the funds are released to the borrower.

Who Can Apply

• This loan is available to:

  • Alaska Native, American Indian, and Native Hawaiian individuals; and

  • Individuals living within Native Communities as designated by the U.S. Treasury CDFI Fund.*

• This loan is designed for individuals with no established credit score or limited existing credit who want to begin building credit.

• It is not designed for those looking to repair or rebuild credit or provide quick cash.

• Looking to rebuild your credit instead?

  • CLICK HERE to schedule a Financial First Steps Appointment with our Certified Financial Coach to discuss your options.

  • Consider learning more about a small-dollar loan.

*To view eligible Native Communities, use the CDFI Fund’s CIMS mapping tool and select “2020 IA Eligible Native Areas.” Boundaries may change over time.

Meeting these criteria does not guarantee loan approval. All applications are subject to credit, income, and program review.

This loan is offered through a Special Purpose Credit Program under the Equal Credit Opportunity Act. Terms, conditions, credit qualifications, and eligibility requirements apply.

How this loan works:

1. Loan funds are held in a secured account until your loan is fully repaid.

2. Your monthly payments are reported to all three credit bureaus, which may help you build or establish credit history (credit score impact depends on your individual profile and other factors).

3. At the end of your loan, you will receive the principal amount you have repaid (minus any amounts still owed) along with your established credit history.

Optional Forgiveness

Borrowers may qualify for up to 50% loan forgiveness by making all required payments on time, participating in monthly financial coaching sessions during the required program period, and meeting all other program requirements.

Participation in financial coaching is optional and is only required for borrowers seeking loan forgiveness benefits. Forgiveness eligibility is subject to verification by CILC and satisfaction of all program requirements.