The Small Dollar Credit Builder Loan Program provides Southeast Alaskan Citizens with the opportunity to establish and improve credit.

Download SDCB Application

Homeownership Quiz

Homeownership Quiz

Is your Credit Score 700 or higher?(Required)
Do you have less than $1,000 in debt (Credit Cards, student loans, auto or personal loans, etc)?(Required)
Do you have $10,000 savings for a downpayment?(Required)
Have you put together a budget for being a homeowner?(Required)
Have you researched other homeowner expenses, such as repair, utilities, homeowners’ insurance, property taxes, etc?(Required)
Do you have a stable source of income (steady employment/self-employment for 2 years)?(Required)
Do you have extra money left over after bills are paid? (Are you living paycheck to paycheck?)(Required)
Have you researched local housing markets/costs(Required)
Hidden
Terms

The following terms apply for the Small Dollar Credit Builder Loan: 

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Up to 2-year term

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Interest rate 10% for those with ACH and 20% for non-direct deposit

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Loan amount may not exceed $2,500

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Each applicant will pay a $100 processing fee

Eligibility

To qualify for the Small Dollar Credit Builder Loan you must meet ALL of the following requirements:

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Applicant must be a resident of Southeast Alaska.

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Must be over the age of 18

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Must have active bank account

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Applicant is required to register and attend Tlingit Haida Regional Housing Authority financial literacy classes. Must have attended 1 class prior to loan approval and 2 before the term of the loan has expired.

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Must demonstrate ability to repay loan and make regular payments

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No credit or negative credit isn’t an eligibility requirement.

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Must be under 40% debt to income ratio

 

To apply for the Small Dollar Builder Loan, you must complete an SDCB application and provide HYFC with the following documents:

Completed Application

Direct Deposit Statement/Voided Check

Copies of most recent pay stubs covering a 30-day period

Copy of the most recent bank statement

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Confirmation of registration for Financial Capacity workshops

Copy of driver’s license or identification card

Copy of tribal enrollment card (if applicable)

To learn more about our programs and services,
contact our team at (907) 780-3105 or lending@hyfclending.com

Download SDCB Application