PAWHUSKA, OK – Osage Nation launched its $5 million Osage Nation Small Business Program, a program made possible by the U.S. Treasury’s State Small Business Credit Initiative (SSBCI). This 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. This support is expected to drive growth and employment in the Osage Nation community fueling businesses to make dreams a reality.
The Osage Nation has tremendous business diversity, including art, fashion, and food. This program aims to stimulate the success of existing businesses and encourage the creation of new businesses through job creation, financial education, and improved relations between Osages and financial institutions, ultimately benefiting the Osage Nation constituency.
“Osage Nation is an extraordinary community of artists, makers, entrepreneurs, and visionaries,” said Chief Geoffrey Standing Bear. “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 Osage Nation Small Business Program 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.
The Osage Nation Small Business Program is intended to drive economic development for the Osage Nation and to support Osages, who historically have had limited access to capital, by utilizing private sector investment and offering banks and venture capital firms more secure and efficient instruments for doing business with Osages and Osage-benefiting businesses. This additional financial security ensures every participating business is bank-ready to secure loan funding, empowering small business owners and entrepreneurs who have not had the ability to secure loan funding in the past to become eligible to fund their business dreams.
Place to Borrow Money (PBM), Osage Nation’s Community Development Financial Institution (CDFI), 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,” said PBM Chief Executive Officer Christopher Coburn. “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.”
With the power, capital, and design of the U.S. Treasury’s State Small Business Credit Initiative, the Osage Nation Small Business Program directly impacts the businesses receiving the loans and equity investments and strengthens the Osage Nation, further strengthening its cultural and economic legacy.
