Welcome to Hoopa Development Fund's website
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Physical Location
We are located at 12473 State Highway 96 in Hoopa, CA
What We Offer
Credit Division
Type of Loan | Description of Loan Type | |
|---|---|---|
Short Term Loans | This program is for any type of personal expenses (excluding purchasing a vehicle). The maximum amount offered through this program is $2,000.00. | |
Intermediate Loans | Hoopa Development Fund opens this program when funds are available. Applicants can request between $2,001.00 to $10,000.00. There are limited funds for this program, and loans will be given to qualified applicants on a first come, first serve basis. Once the available funds are fully expended, loan applications will not be considered. There is a $25.00 application fee to apply, and a $100.00 loan fee upon closing. Applications can be found on hoopadevelopmentfund.com, or you can request one from our office located at 12473 State Highway 96. (THIS PROGRAM IS TEMPORARILY CLOSED) Updates on this Program will be posted as information becomes available. | CLOSED |
Home Loans | THIS PROGRAM IS TEMPORARILY CLOSED. Updates on this program will be posted as information becomes available. |
CLOSED |
Credit Reports | Buy your Credit Report for $15.00 | |
Credit Counseling | Learn how to deal with Creditors and learn how to deal with the bills that shadow your report. Staff can also help you read and understand your credit report. | Contact us for more information |
Other Documents: Co-Signer Applications Deferment Request |
Application Requirements
To apply for loans through Hoopa Development Fund - Credit Division, applicants MUST be enrolled HOOPA TRIBAL MEMBERS. However, co-signers are not required to be Hoopa Tribal Members. All applications require income verification documentation and approval for obtaining a credit report to determine eligibility. Applications must be turned in by the Friday prior to the loan meeting. The Regular Loan Meeting will be held on the fourth Thursday of each month. See our Application Deadline page for a list of dates and other information.
Fees
Applications include a $15 application fee for a short-term loan, and a $25.00 application fee for intermediate loan. If an application is approved, a loan fee will be charged to process the booking of the loan. Short Term Loan Fees are $25.00, Intermediate Loan Fees are $100.00, and Home Loan Fees are $300.00. Home Loans also include a 5% down payment requirement.
Interest Rates
The Short Term Interest Rate is 11% per annum. The Intermediate Interest Rate is 10% per annum. The Home Loan Interest Rate is 2.5% above the 10-year Treasury Rate at a minimum.
EDA Division
Type of Loan | Description of Loan Type | Application Link |
|---|---|---|
Micro-Business Loans: | This program is for small businesses and small business start-ups. Loans normally range from $20,000.00 to $100,000.00 depending on the business type and available collateral. THIS PROGRAM IS TEMPORARILY CLOSED | |
Business Loans: | This program is for business expansion and large-scale start-ups. The lending limit for this program is dependent on the type of business and available collateral to secure the loan.THIS PROGRAM IS TEMPORARILY CLOSED |
Application Requirements
To apply for loans through Hoopa Development Fund - EDA Division, an applicant's business MUST be located on the Hoopa Valley Tribal Reservation. Applicants are not required to be enrolled Hoopa Tribal Members. All applications require a viable business plan, proof of collateral and value, and proof of income.
We hope to see you again! Check back later for new updates to our website. There's much more to come!