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Indian Loans Economic Development
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Examples of Funded Projects
Fiscal Year 2016: No Information Available.
Fiscal Year 2017: No Information Available.
Fiscal Year 2018: No Information Available.
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.
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.
Program Accomplishments
Fiscal Year 2016: No Information Available. Fiscal Year 2017: No Information Available. Fiscal Year 2018: No Information Available.
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. 2 CFR 200, Subpart E - Cost Principles applies to this program.
Aplication and Award Process
Preapplication Coordination
Preapplication coordination is not applicable.
Environmental impact information is not required for this program.
This program is excluded from coverage under E.O.
12372.
Application Procedures
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 Procedures
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.
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
Contact the headquarters or regional office.
Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula. 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. MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
Loan guarantees are limited to no more than 30 year terms. See the following for information on how assistance is awarded/released: Contact the headquarters or regional office for more information.
Post Assistance Requirements
Reports
Program reports are not applicable.
Cash reports are not applicable.
Progress reports are not applicable.
Lenders will submit quarterly reports on the status of loans to the Director of Indian Affairs Region in which the loan was made.
Performance monitoring is not applicable.
Audits
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503. 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.
Financial Information
Account Identification
14-4415-0-3-452.
Obigations
(Guaranteed/Insured Loans) FY 16 Not Separately Identifiable; FY 17 Not Separately Identifiable; and FY 18 Not Separately Identifiable
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.
Information Contacts
Regional or Local Office
See Regional Agency Offices. 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
Philip Viles, Office of Indian Energy and Economic Development, Assistant Secretary Indian Affairs, 1951 Constitution Ave, NW., MS-20-SIB, Washington, District of Columbia 20240 Phone: (202) 513-7683.
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.
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