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.

General information about this opportunity
Last Known Status
Active
Program Number
15.124
Federal Agency/Office
Bureau of Indian Education, Department of The Interior
Type(s) of Assistance Offered
F - Guaranteed/Insured Loans
Program Accomplishments
Fiscal Year 2018 No Information Available.
Fiscal Year 2017 No Information Available.
Fiscal Year 2016 No Information Available.
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.
Who is eligible to apply/benefit from this assistance?
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.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable.
Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Applications for loan guarantees should be submitted by the lender at the local Indian Loan Guaranty Program Zone Office. Lenders should contact the local office for information on documentation needed to complete an application.
Award Procedure
Action approving or disapproving loans is taken at various levels pursuant to delegated authority. The local Indian Loan Guaranty Program Zone Office notifies applicants of action taken on applications.
Deadlines
Not applicable.
Approval/Disapproval Decision 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
Contact the headquarters or regional office
How are proposals selected?
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.
How may assistance be used?
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.
What are the requirements after being awarded this opportunity?
Reporting
Not applicable.
Auditing
Federally Recognized Indian Tribal Governments, Native American Organizations, and tribal enterprises are responsible for obtaining audits.
Records
Loan records must be maintained for the life of the loan.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.

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

MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Loan guarantees are limited to no more than 30 year terms. Contact the headquarters or regional office for more information.
Who do I contact about this opportunity?
Regional or Local Office
Lenders must submit applications to the local Indian Loan Guaranty Zone Office Appendix IV of the Catalog or with the Tribal Government administering the program.
Headquarters Office
Juanita Mendoza
1849 C Street, N.W.
Bureau of Indian Education, MS 4657-MIB
Washington, DC 20240 US
juanita.mendoza@bie.edu
Phone: 2022083559
Financial Information
Account Identification
14-4415-0-3-452
Obligations
(Guaranteed/Insured Loans) FY 18$0.00; FY 19 est $0.00; FY 20 est $0.00; FY 16 FY 17 -
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 $38,000,000.
Regulations, Guidelines and Literature
25 CFR 103.
Examples of Funded Projects
Fiscal Year 2017 No Information Available.
Fiscal Year 2016 No Information Available.
Fiscal Year 2018 No Information Available.

 


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