Cherokee Nation honors certified Indian owned businesses, extends new loan fund to off Reservation businesses

TULSA, Okla. - The Cherokee Nation honored hundreds of Native-owned businesses during the tribe's 17th annual TERO Certified Indian Owned Business Awards Banquet on Thursday, Nov. 7.

The Cherokee Nation Tribal Employment Rights Office (TERO) has 802 Indian-owned companies and 211 artists that are TERO-certified vendors able to do business with the tribe and compete for government contracting jobs. In fiscal year 2024, TERO vendors earned more than $590 million in contracts with the tribe.

During the banquet, the tribe also honored eight standout TERO businesses with awards.

"Our Nation is experiencing a wealth of projects, the most that we've ever seen in the Cherokee Nation," said Principal Chief Chuck Hoskin Jr. "TERO venders provide unique resources which are highly valued within the tribe. And we're constantly looking for new ways to spur economic growth and support small, Cherokee-owned businesses. We just finished our first State Small Business Credit Initiative loan, the first of a historic agreement between the Cherokee Nation and the United States Department of Treasury that, in total, will provide $86 million in federal funding for Native-owned small business lending. The first recipient of our historic program has roots in nearby Broken Arrow, and by next July we're posed to unleash this capital across the United States."

In September, Chief Hoskin announced that the tribe would receive $86 million from the United States Department of Treasury for an SSBCI loan fund. Participating banks will provide 50% of each loan, with SSBCI funding 50%. With Chief Hoskin's announcement on Thursday, the tribe will extend the scope of the program to serve applicants living outside the Cherokee Nation Reservation beginning in about July 2025. The tribe's Commerce Department will administer the program.

This year marks 41 years since the Council of the Cherokee Nation unanimously passed a resolution to endorse and approve the formation of Cherokee Nation TERO.

"It's an honor to get to celebrate all of these hard-working Native-owned businesses," said Speaker of the Council Mike Shambaugh. "All of their hard work contributes to the overall well-being of the tribe. Some individuals have taken on big risks with opening a new business. We want to back you, wherever you are. Seeing the investment into our economy by TERO-certified business makes is striking. We should take a moment to reflect on where we can be 10 years from now with all of our partners."

Eight of the tribe's TERO-certified businesses received special recognition for their outstanding performance as part of the annual awards banquet.

TS Services - Pro Exterior Cleaning of Claremore, received the Certified Indian Owned Business Community Leadership Award. TS Services-Pro Exterior Cleaning has been a TERO vendor for two years.

"This is fantastic," said CEO Tyler Starkey. "I honestly didn't expect to receive this award. Thank you everyone for the support."

The eight certified Indian-owned businesses awarded for 2024 are as follows:

• Certified Indian Consulting Firm of the Year: The Strategy Group, LLC, Owasso
• Certified Indian Business Community Leadership Award: TS Services - Pro Exterior Cleaning, Claremore
• Certified Indian Business Customer Service Award: Sonburst Graphics, LLC, Fort Gibson
• Certified Indian Retail Business of the Year: Sand Tech Engraving, LLC, Tahlequah
• Certified Indian Woman-Owned Business of the Year: Palmer Construction & Marine Company, LLC, Sallisaw
• Small Certified Indian Business of the Year: Okie Stripe Company, LLC, Tahlequah
• Large Certified Indian Business of the Year: 4D Home & Commercial Solutions, LLC, Tahlequah
• Certified Indian Business Construction Company of the Year: Young's Land Management, Hulbert

During the banquet, Cherokee Nation Secretary of Natural Resources Christina Justice also honored Cherokee Nation Entertainment with a special Spirit of Sustainability Award.