Consumer Loans

Consumer Loans

The mission of Northern Shores Community Development, Inc. is to assist primarily American Indian communities and other underserved Michigan residents with training, business incubation, and access to capital. Loans will be made to further this mission. Loans may be made to eligible applicants who demonstrate the financial ability to repay the loan and enough assets to collateralize the loan. Loans may be made to eligible applicants who reside in NSCDI’s defined service area. Other loan products may be developed from time to time based on funding sources and approval of the Board of Trustees. Exemptions may be made if it furthers the goals of NSCDI. Eligibility is determined by policy passed by the Board of Trustees.

Current Consumer Loan Types

  1. Personal Loans: Interest Rate: 7%
  2. Credit Builder Loans: Interest Rate: 7%, Term: up to 36 months
  3. Small Dollar Loans: Interest Rate: 7%, Term: up to 36 months, up to $2,500.00.