Indian Loans_Economic Development

To provide assistance to Federally Recognized Indian Tribal Governments, Native American Organizations, and individual American Indians in obtaining financing from private sources to promote business development initiatives to improve the economies of Federally Recognized Indian Reservations.




Related Programs

Examples of Funded Projects

A Bureau of Indian Affairs 90 percent loan guarantee of $5.5 million for a Tribe to construct and operate a tire recycling business, which is one of the first vertically integrated crumb rubber processing facilities in North America.

Another example is a BIA 90 percent loan guarantee of $763,500 for a Tribe's health clinic expansion.

This expansion was required to provide the quality and level of services the Tribal members needed.

Another example is a BIA 90 percent loan guarantee of $4.5 million for a Tribe's 96-unit apartment complex expansion.

This expansion will assist in diversifying the Tribal economy in the Northern New Mexico region.


Agency - Department of the Interior

The Department of the Interior protects and provides access to the Nation's natural and cultural heritage, including responsibilities to Indian tribes and island communities. Departmental goals include resource protection and usage, overseeing recreational opportunities, serving communities and excellence in management.

Office - Lenders must submit applications to the local Bureau of Indian Affairs agency office as listed in Appendix IV of the Catalog or with the Tribal Government administering the program.



Program Accomplishments

Guarantees of over eight hundred and forty-seven million dollars of loans have been awarded.

Uses and Use Restrictions

Loans may be used to finance commercial, industrial, agricultural, or business activities, which benefit Federal Indian Reservation economies.

Loan guarantees to private lenders will only be provided if funds otherwise would be unavailable to the borrower.

Eligibility Requirements

Applicant Eligibility

Federally Recognized Indian Tribal Governments, Native American Organizations authorized by Indian tribal governments, and individual American Indians.

Beneficiary Eligibility

Federally Recognized Indian Tribal Governments, Native American Organizations, and individual American Indians or Alaska natives. Complete information on beneficiary eligibility is found in 25 CFR, Part 103.

Credentials/Documentation

Individual applicants must submit a certificate signed by Bureau Agency Superintendent or authorized Tribal representative that indicates the applicant is an enrolled member or registered with a Federally recognized Indian tribal government. Federally Recognized Indian Tribal Governments and Native American Organizations must submit a resolution of the governing body of the Indian Tribe. All applicants must demonstrate their inability to obtain financing through the same institutions serving other citizens.

Aplication and Award Process

Preapplication Coordination

None.

This program is excluded from coverage under E.O.

12372.

Application Procedures

Applications for loan guarantees should be submitted by the lender at the local Bureau of Indian Affairs Agency or Tribal Loan Administration Office. Lenders should contact the local office for information on documentation needed to complete an application.

Award Procedures

Action approving or disapproving loans is taken at various levels pursuant to delegated authority. The Bureau of Indian Affairs Regional or Field Office or Tribal Loan Administration Office notifies applicants of action taken on applications.

Deadlines

None.

Authorization

Snyder Act of 1921, Public Law 67-85, 42 Stat. 208, 25 U.S.C. 13; Indian Reorganization Act of 1934, Section 10, Public Law 73-383, 48 Stat. 986, 25 U.S.C. 470; Public Law 93-262, 88 Stat. 77 through 83, 25 U.S.C. 1451; Indian Self-Determination and Education Assistance Act, Public Law 93-638, as amended, 25 U.S.C. 450 et seq.

Range of Approval/Disapproval Time

15 to 30 days depending upon completeness of loan package.

Appeals

An unsuccessful applicant may request an informal conference with the deciding official, or may appeal the denial of the application by a Bureau of Indian Affairs official to the Interior Board of Indian Appeals, or may bring suit in U.S. District Court. Full appeal procedures are found in 25 CFR, Part 2.

Renewals

None.

Assistance Considerations

Formula and Matching Requirements

The maximum percentage of guaranty is 90 percent of unpaid principal and interest. Borrower must have 20 percent equity in business being financed.

Length and Time Phasing of Assistance

Loan guarantees are limited to no more than 30 year terms.

Post Assistance Requirements

Reports

Lenders will submit quarterly reports on the status of loans to the Director of Indian Affairs Region in which the loan was made.

Audits

Federally Recognized Indian Tribal Governments, Native American Organizations, and tribal enterprises are responsible for obtaining audits. All nonfederal entities that expend $500,000 or more of Federal awards in a year ($300,000 for fiscal year ending on or before December 30, 2003) are required to obtain an annual audit in accordance with the Single Audit Act Amendments of 1996 (31 U.S.C. 7501 et. seq.) and OMB Circular A-133 Compliance Supplement and Government Auditing Standards. Nonfederal entities that expend less than $500,000 (for fiscal years ending after December 1, 2003) a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in OMB Circular A-133.

Records

Loan records must be maintained for the life of the loan.

Financial Information

Account Identification

14-4415-0-3-452.

Obigations

(Guaranteed Loans) FY 07 $85,485,456; FY 08 est $84,172,203; and FY 09 est $84,172,203.

Range and Average of Financial Assistance

For individuals and tribal enterprises, $150,000 to $10,500,000. For Federally Recognized Tribal Governments and Native American Organizations, $10,000,000 to $12,000,000.

Regulations, Guidelines, and Literature

25 CFR 103.

Information Contacts

Regional or Local Office

Lenders must submit applications to the local Bureau of Indian Affairs agency office as listed in Appendix IV of the Catalog or with the Tribal Government administering the program.

Headquarters Office

Office of Indian Energy and Economic Development, Assistant Secretary Indian Affairs, 1951 Constitution Ave, NW., MS-20-SIB, Washington, DC 20240. Contact: Michael A. Lucero. Telephone: (202) 513-7681.

Criteria for Selecting Proposals

Economic enterprises must demonstrate a reasonable prospect for repayment, and be at least 51 percent Indian owned. Project must provide economic development to a federally recognized Indian reservation.


Here are the star companies that have succeeded in their corporate social responsibility (CSR) programs. The companies were gathered by Civic 50, a national initiative to survey and rank S&P 500 corporations on how they engage with the communities they serve and utilize best practices in their corporate cultures.




Nonprofit Jobs in South Carolina

  Program Director Jobs
  Executive Director Jobs
  Social Services Jobs
  Executive Director Jobs
  Substance Abuse Jobs





More Federal Domestic Assistance Programs


Procurement Assistance to Small Businesses | Strengthening Emergency Care Delivery in the United States Healthcare System through Health Informat | Women and Minorities in Science, Technology, Engineering, and | Construction Grants for Wastewater Treatment Works | VHA Outpatient Specialty Care |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2024 Copyright Michael Saunders