Regulations governing loans to Indians from the Bureau of Indian Affairs' Revolving Loan Fund are being published in the Federal Register. The regulations have been revised to reflect the provisions of the Indian Financing Act of 1974.
The Indian Financing Act consolidated existing revolving loan funds administered by the Bureau and authorized the appropriation of an additional $50 million for the consolidated fund. Loans from the fund can be made to Indian organizations or individuals for purposes which will improve and promote economic development on Indian reservations.
Loans may be made directly or through eligible relending organizations for economic enterprises, individual housing needs or education needs.
Loans may be made only to applicants who are unable to obtain financing on reasonable terms and conditions from other sources and are unable to obtain a guaranteed or insured loan under Title II of the Indian Financing Act.
Application forms and further information are available at Bureau Agency offices.
