Some frequently asked questions and answers about our programs and services. If your question isn’t answered here, please contact us.

What is a CDFI?

A CDFI, or community development financial institution, is a specialized financial institution that provides a unique range of financial products and services in economically distressed markets that are underserved by traditional financial institutions. CDFIs include regulated institutions such as community development banks and credit unions, and non-regulated institutions such as loan and venture capital funds.

What community does Lakota Funds serve?

Can someone donate to or invest in Lakota Funds?

If I am not a member of the Oglala Sioux Tribe, can I qualify for a loan?

Yes. Lakota Funds' loan policies state borrowers must be any enrolled tribal member living on the Pine Ridge Indian Reservation or within 50 miles of the exterior boundaries who owns or plans to start a business based in the Investment Area. The loan applicant must also reside and base his/her business on the Pine Ridge Reservation or within 50 miles of the exterior boundaries of the Reservation as recognized by the Oglala Sioux Tribe.

I have bad credit. Does that automatically disqualify me for a loan?

Do I need collateral to get a loan?

Yes, collateral will probably be required. The amount and term of the loan will determine the type and value of collateral necessary. Business loans are not grants, therefore if for some reason, you cannot repay the loan, Lakota Funds will need to be repaid by the sale of the collateral. We can use a vehicle, business equipment, livestock, real estate, or other items of value that you own and can provide clear title. If you are planning to use your loan to buy additional equipment or vehicles, we can use the new purchase as collateral.

What happens when people don’t pay back loans to Lakota Funds?

If a loan is not paid back, Lakota Funds will need to be repaid through the sale of collateral. Failing to repay a loan affects the borrower's ability to get loans in the future as well as their overall credit score. Not paying back a loan to Lakota Funds also affects other people in the community who want to get a loan from us because funds from the lending pool aren't paid back.

How do I start the application process?

Frequently Asked Questions

What is a CDFI?