PAWHUSKA, OK – The Osage Nation has established a new Community Development Financial Institution (CDFI) called Manzeska Ota Tsi, which translates to ‘Place to Borrow Money’ (PBM), and the institution announced it is offering a Holiday Loan Program. The program offers $500 and $1,000 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 Dec. 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.
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, OK. 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.
“Establishing a Native-focused [CDFI] is an expression of sovereignty and self-determination by the Osage Nation,” said Christopher Coburn, PBM Lending CEO and Executive Director. “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.”
PBM Lending is open Monday through Friday, 8:30am to 4:30pm, and located at 100 W. Main in downtown Pawhuska. Eligible individuals can request an application by emailing [email protected] or calling (918) 287-0001.
