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Osage Nation Small Business Program Launches with $5 Million for Business Development Loans
Funds for entrepreneurs and small businesses further strengthen Osage Nation culture and economic legacy
Representatives from the U.S. Treasury, Osage Nation, and Development Capital Network (DCN) meet at the Osage Nation Executive Building to finalize the launch of the Osage Nation Small Business Program
OSAGE NATION RESERVATION, OKLA. (July 18, 2024) – Osage Nation is proud to launch 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 ten 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. PBM Lending is available by calling (918) 287-0001, by emailing info@pbmlending.com, or in person at 100 W Main St, Pawhuska, OK. Hours of operation are Monday through Friday, 8:30 a.m. to 4:30 p.m.
Interested lenders may contact Christina Kappaz at or download the
Eligibility Requirements
.
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.
About the SSBCI and Osage Nation Small Business Program Management
Reauthorized in 2021 by the American Rescue Plan Act (ARPA), the U.S. Treasury’s State Small Business Credit Initiative (SSBCI) program was allocated $10 billion and, for the first time ever, has designated $500 million specifically for Tribal Governments. The capital is intended to utilize additional private sector investments of $10 for every $1 of program resources. The SSBCI program gives every state, territory, and tribe the ability to adopt its own set of programs to deliver loans or equity to small businesses and name a program administrator. More information can be found at
https://www.osagenationsmallbusiness.com
.
About the Osage Nation
The Osage Nation is a strong, proud, and enduring sovereign Nation with over 25,000 Tribal Members. In 1872, the Osage Nation purchased 1,470,559 acres in Northeast Oklahoma, where we continue to thrive. We are Wahzhazhe—a community of artists, makers, entrepreneurs, and visionaries who contribute our talents to build a more beautiful Nation and prosperous economy. Our strength comes from the commitment of our Wahzhazhe people and the knowledge that Wa-Kon-Da blesses us.
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Front row (L to R): Zakaria Shaikh - Consultant, U.S. Treasury; John Alex - Outreach Manager, U.S. Treasury
Second row (L to R): Ron Kelly - Outreach Lead, U.S. Treasury; Diane Sontum - Subject Matter Expert, U.S. Treasury; Amy Easley - Financial Analyst, Osage Nation Self Governance; R.J. Walker, Osage Nation Assistant Principal Chief
Third row (L to R): Robert Heard – Managing Director, DCN; Christopher Coburn - CEO, PBM; Susan Bayro - Secretary of Administration, Osage Nation; Amber Le Roy – Strategic Planning Administrative Assistant, Osage Nation
Fourth row (L to R): Candy Thomas - Self-Governance and Strategic Planning Director, Osage Nation; Sallie Traxler – Managing Director, DCN; Raymond Redcorn - Board Chair, PBM
