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About Spilyay tymoo. (Warm Springs, Or.) 1976-current | View Entire Issue (Jan. 3, 2008)
Spilyay Tymoo, Warm Springs, Oregon Page 12 Indian Business Talk January 3, 20 0 8 News from Inchon Country Qualifying for low interest rates from off-reservation credit sources B y Bruce Engle Business Specialist Toan Officer, Warm Springs Tribal Credit Enterprise This inform ation is for tribal member buyers o f cars, appliances, and furniture from off-reservation sellers, and for tribal member busi ness owners who need credit from off-reservation suppli ers and lenders. Your lenders need answers for two basic questions about you as a borrower— Can you Pay? Will you Pay? Your goal is to provide the lender with evidence o f your credit worthiness so that their answer to each question is a very definite ‘Yes.” Their analysis o f your in come and debts will deter mine your ability to pay. An analysis o f your credit report w ill-answ er th e qu estio n about your willingness to pay. In other words, your credit report and your credit score, both of which tell the lender about your past history o f paying your obligations, in conjunction with the infor mation about your income and monthly debt payments, will determine whether or not you will get a loan. That information and some other factors will be considered to determine what your interest rate and term for repayment (the number o f payments) will be. Here is where sovereignty be comes an issue. Lenders look at a reservation as a foreign country with its own laws and courts. They are con cerned about w hat happens when the borrower defaults on the loan and their security for the loan, the collateral, needs to be foreclosed upon. They always consider the risk o f default and they calculate the monetary costs and the time fac tors involved in recovering the collateral and their investment. T h a t is w hat makes .your credit history and your income- to-debt situation, the parts you control, so important. Some, but not all, lenders lose their fear o f lending to Indian country borrowers when those borrowers show them a good steady income figure and high credit scores. When a lender is reasonably confident that the borrow er w o n ’t default, th e lender might be encouraged to not worry quite so much about tribal law and tribal courts and how they differ from the laws and court systems the lender is accustomed to. Credit Enterprise will be scheduling some credit work shops this year in our new building to talk about these things. They will be open to all tribal members. We hope to see you there. In the meantime, commu nity meetings will be held on January 14 and 16 to present the tribe’s new commercial code sections that will affect yoür ability to access credit at m o st favorable rates and terms. The new Secured Transac tio n s C ode fo r P erso n al Property will be one of those codes discussed. It is the pri mary section that the lenders depend upon for their secu rity. I encourage you to attend one o f the meetings. It will be a great chance to learn how the system will work—-, for your benefit. Tribe wants to put land in trust for casino GROVE, Okla. (AP) - The Seneca-Cayuga Tribe has asked the federal Bureau o f Indian Affairs to place into trust status land the tribe wants to use to build a proposed casino, The move represents a shift for the tribe, which had said publicly for months that trust status for the land would not be Indian museum director had large travel budget W A S H IN G T O N (AP) _ The former director o f the N a tional Museum o f the American Indian Spent more than a quar te r o f a m illion dollars in Smithsonian funds on first-class transportation and luxury hotels over four years. In four years, W. Richard West Jr., was away from Wash ington for 576 days on trips that included speaking engagements, fundraising and work for other nonprofit groups. West recently retired from the director's post, but remains on the payroll until the end o f the year. West's travel often took him far from American Indian cul ture. There were more than a dozen trips to Paris, and there were also trips to New Zealand, G reece, In d o n esia and Singapore. West said all his trips were approved by supervisors and that part o f his job was to be a global emissary for the museum. “There is no point at which these activities were being car ried on in anything but an open way and with the approval of the Smithsonian,” he said. 2006 Chevrolet Silverado 1500 Pickup Ext-Cab 2006 Buick Rainier CXL Sport Utility 4D vin#220030 6-Cyl, 4.2 Liter, auto, AWD, $24295. NOW $21,495 vin# 322777 2007 Chevrolet Express Van 1500 Cargo 2006 Chevrolet Suburban 1500 Sport Utility V6, 4.3 Liter, auto, RWD vin#102756 V8, 5.3L Flex Fuel, auto, 4WD $3326* NOW $26,434 vin#145923 2007 Chevrolet Trailblazer Sport Utility 4D 2007 Dodge Charger SE Sedan 4D V8, 6.0 Liter, HO, auto, 4WD, $2426* NOW $17,995 foot lakefront casino on the land. The casino would cost $60 million to build and would have about 1,000 gambling machines. I t w ould em ploy ab o u t 450 people and include a five-story hotel with 125 rooms, three res taurants and a convention cen ter. Calif, tribes, horse tracks, unions bet big on February ballot SACRAMENTO (AP) - For all the money presiden tial hopefuls might spend to win California's February pri mary, far more may be bet on a lesser-known battle to ex pand Indian gambling. Four wealthy S outhern California Indian tribes are preparing to spend as much as $80 million to defend deals they struck with Gov. Arnold Schwarzenegger and the Leg islature. The deals would give the tribes 17,000 new slot ma chines — enough to fill eight Las Vegas-sized casinos. In exchange, they would share profits with California's cash- strapped general fund, which faces a multibillion dollar deficit. The tribes — the Pechanga Band o f Luiseno Indians near Tem ecula, th e Agua Caliente Band o f Cahuilla Indians in Palm Springs, the Morongo Band o f Mission Indians near Cabazon and th e Sycuan B and o f the Kumeyaay Nation near San Diego -4 already have contrib uted more than $44 million to promote their compacts. Tribal leaders say. they're convinced the deals will be a winner with voters, but they're not taking any chances. O ppo nents have put four referen dums on the Feb. 5 ballot to overturn them. The tribes are expected to add tens o f millions o f dollars to their campaign in the com ing weeks and have purchased so much commercial air time that some political analysts say it could cut into the number of presidential ads voters see be fore the election. D espite the onslaught, an unlikely band of opponents be lieves it can stop the tribes. A racetrack owner, compet ing tribes and a casino-workers' union pooled their money for a signature-gathering drive to p u t the deals on the ballot. They're banking on an Indian- gambling backlash and say they can convince voters the deals aren't nearly as sweet as they sound on TV. Voc-Rehab to conduct orientation at Celilo Warm Springs Vocational Rehabilitation will be con ducting an o rientation in Celilo. The orientation will be -$23295- NOW $24,495 necessary because it falls within the tribal historical jurisdictional area. Under federal law, any land that a tribe intends to use for a casino must be put into trust. T h e M iam i-based trib e bought the 33-acre tract near Sail Boat Bridge west o f Grove for more than $1 million. Plans are to build a 100,000-square- scheduled for Friday; Jan. 18. The orientation will begin at 2 p.m. The event will take place at the Celilo Longhouse. For more information call the Warm Springs Vocational Rehabilition Office at (541) 553-4952. FENDERS by ENDRES Fast, Courteous 24-Hour Service. Accident Recovery. 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