Osage Nation’s Manzeska Ota Tsi (Place to Borrow Money) Launches Holiday Lending Program
OSAGE NATION RESERVATION, OKLA. (November 29, 2023) – Osage Nation’s newly established Community Development Financial Institution, Manzeska Ota Tsi (Place to Borrow Money (PBM) Lending), is offering a Holiday Loan Program. The program offers $500 and $1000 holiday loans with a 9-month payback agreement. To date, PBM Lending has processed 79 loans and anticipates exceeding 100 loans by the program closure date set for December 15, 2023. PBM Lending seeks to provide access to affordable lending capital to Osage members living in Oklahoma and to any other Native Americans living within the Osage Nation Reservation (Osage County, Okla.).
The PBM Lending Holiday Loan Program is open to all Osage members residing in Oklahoma, all Osage Nation and Osage Nation Enterprise employees, and members of Federally Recognized Tribal Nations within 100 miles of Pawhuska, Okla. Eligible individuals can request an application by emailing @email or calling (918) 287-0001. Loans must be repaid, and each loan is conditional based on qualifications. Not all applicants will be approved. Loans are to be repaid according to the agreement signed with Osage Nation Courts being jurisdiction for any legal disputes. PBM Lending is open Monday through Friday, 8:30 a.m. to 4:30 p.m., and located at 100 W. Main in downtown Pawhuska.
“Establishing a Native-focused Community Development Financial Institution (CDFI) is an expression of sovereignty and self-determination by the Osage Nation,” PBM Lending CEO and Executive Director Christopher Coburn commented. "We plan to positively impact the community with improved financial literacy, credit scores, economic development, and more affordable access to lending capital as a CDFI.”
About PBM Lending
PBM Lending was created by the Osage Nation Executive and Legislative Branches and is funded by the Native American Community Assistance (NACA) grant from the United States Treasury’s Community Development Financial Institutions (CDFI) Fund and appropriations from the Osage Nation Congress. PBM Lending is implemented through the consistent effort of the Osage Nation CDFI Board of Directors and PBM employees.
PBM Lending is both a nonprofit and public purpose corporation organized under the Osage Nation Law. The Osage Nation is the sole member of Place to Borrow Money as a corporation. PBM Lending is tax-exempt and welcomes year-end giving. PBM Lending plans to promote new products and programs such as small business lending, agribusiness lending, consumer lending, and home improvement loans. PBM Lending also plans to offer training courses, which will be announced in Fiscal Year 2024. For more information, call (918) 287-0001 or email @email. Check out their website at: www.pbmlending.com