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TAHLEQUAH, OKLAHOMA - The Cherokee Nation plans to help local small businesses boom. The Cherokee Nation recently received a grant for $800,000 from the U.S. Department of Housing and Urban Development (HUD). The Cherokee Nation plans to use the money to loan to small business owners to help them start a new business or expand an existing one. The new loan program will be different from existing small business loan programs.

“I believe the most distinguishing and advantageous feature of this loan program is that in some cases, the borrower may able to use sweat equity in place of capital,” said Shay Smith, manager of the Cherokee Nation Small Business Assistance Center.

Another distinguishing feature is that applicants must be in the low to moderate income range, as defined by HUD.

To apply for a Cherokee Nation small business loan, please contact the Cherokee Nation Small Business Assistance Center, phone: 918-456-0671 (ext.2536).

Related Cherokee Nation contact information:

Mike Miller, Cherokee Nation Director of Communications Phone: 918-456-0671 (ext.2210) Fax: 918-458-5580 E-mail: Communications@cherokee.org Larry Daugherty, Advertising Manager Cherokee Nation - Public Affairs Phone 918-456-0671 (Ex.2324) E-mail: ldaugherty@cherokee.org

Steven Swogger, Agriculture Liaison Natural Resources Department Phone: 918-456-0671 (ext.2546) FAX: 918-458-7673 E-mail: sswogger@cherokee.org Bradley D. Peak, Cherokee Nation Natural Resources Specialist Phone: 918-456-0671 (ex.2843) E-mail: bpeak@cherokee.org