Tribal lending has it's own challenges. Everyone within Indian Country knows that all too well. The principal of Mynizaga is a card carrying Native North American , lender and consultant to Tribes /Tribal member owned businesses We have found there are specifics for Tribal Lending that are sometimes very difficult for Tribes/Bands to secure funding.
Banks cannot generally lend in Indian Country as they cannot take a lien on Tribal land. Tribes ask for jurisdiction in their own tribal courts. That is a problem for banks.
The Mynizaga program was not designed specifically for Tribes/Bands but it may as well have. Why?
1. Mynizaga does not take a lien on projects eliminating a huge hurdle for funding and zero Sovereign waivers needed.
2. The interest for Sovereign Nations is 1% annually.
3. We were designed for start ups.
4. We are interest only for 4 or 8 years giving a long ramp up to profitability.
5. We are use to dealing within Indian Country as several of the Mynizaga brokers are tribal members. We have experience being in front of Tribal Councils.
6. No personal guarantees needed.
The Mynizaga program is not a grant or is it charity. It is a commercial business loan. We do not lend for personal reasons. We only fund businesses. We have DD and compliance to go through for every project. The Tribe/Band applicant is responsible for the required 25% or 33% set aside deposit, just like non-Indian Country applicants. We have third party underwriters and lenders who are happy to work with Indian Country applicants. We have successfully referred a Tribally owned project to purchase an airline and a second project will be approved by the third party in August 2024.
Having said that, Mynizaga is dedicated to Tribal funding for all kinds of projects whether they be Tribally owned or within a JV.
