Application Process
Applying for a Loan
Applying for a Loan
Thank you for your interest in our loan products! Black Hills Community Loan Fund is here to help you with long-term financial success. Our loan requests follow a multi-step process. Here you will find all the necessary requirements and information to complete your request.
WHAT YOU NEED TO KNOW
Application Requirements
- All loans have an application fee due at the Application Appointment (described in Application Process below).
- All loan clients are required to complete a Financial Literacy Class prior to loan funds being issued.
- All business loan clients are required to complete an Indianpreneurship course prior to loan funds being issued.
- All loans require ACH payments from a bank account on which you are listed as an owner.
- Credit Builder loan proceeds will be paid directly to the creditor.
- Approved loans will include closing costs based on the loan amount.
Our Lending Process
Client Intake Form
The first step is to fill out and return the Client Intake Form.
Digital Download
You can download this by clicking below and saving the form to your device. You will be able to fill the form out on your device, or you can choose to print it and fill it out by hand.
Hard Copy
If you’d prefer a hard copy of the form, you can pick one up at our office at:
1764 Centre Street, Suite 1
Rapid City, SD 57703
Once you complete the Client Intake Form, please return it to Brandon Jossart.
Email Submission
Mail or Hand Deliver
Black Hills Community Loan Fund
Brandon Jossart
1764 Centre Street, Suite 1
Rapid City, SD 57703
Application Packet
Once we review the Client Intake Form, we will provide you with a packet consisting of a Loan Application, Release of Information Form, and a Loan Checklist.
Classes
You may take our Financial Literacy or Indianpreneurship classes at any point in the loan process. Required classes must be complete before we can provide loan funds.
Application Appointment
When you have completed the Application and Checklist, you will contact us to schedule your Application Appointment. The following details are important to note about your appointment:
- The Application Fee will be collected at the start of your appointment. The fee is nonrefundable and NOT a guarantee of approval. If your loan is declined, you may use your Application Fee for one future application, if submitted within 6 months.
- We will ask you to provide supporting documentation for your request, including but not limited to:
- 3 months of bank statements.
- 3 months of paystubs.
- If applying for a Credit Builder Loan, most recent statements of debts or recent verification of amounts owed on debts you are trying to consolidate.
- Quotes for repairs or services, if applicable.
- Please have your application filled out in its entirety, to the best of your ability. If additional information is needed after the Application Appointment, we ask that it be provided within two weeks.
Application Review
If everything necessary was available at the Application Appointment, we will begin the review phase of the loan. It can take up to two weeks for loan decisions to be complete.
Loan Approval
We will reach out to schedule a time to come in and sign your loan documents. If there are any other finalization details, such as the closing cost amount, they will be shared with you at this time.
Loan Denial
We will reach out to you and invite you in to visit about how we can work towards improving your situation to improve your chances of being approved in the future.
QUESTIONS? REACH OUT!
We are here to help.
If you have any questions at any point during your application process, please get in touch with us.
Our staff is here to help you. (605) 519-5124