Proposed Regulations for Indian Financing Act of 1974, 1974-04-12

The Department of the Interior's Bureau of Indian Affairs is seeking full funding of $80 million for the Indian Financing Act of 1974, which consolidates existing Indian revolving loan funds and creates a new Indian Loan Guaranty and Insurance Fund. The Act also establishes the Indian Business Development program to provide equity capital through nonreimbursable grants to Indian-owned economic enterprises. Proposed regulations for the Act are being published, and comments can be submitted within 30 days. Loans will only be made when there is a reasonable chance of payment, and grants will only be given if they contribute to the economy of a reservation.