Letter from Constituent to John Happy Camp about Indian Financing Act of 1973: Promoting Economic Development for Indians and Indian Organizations, 1973-07-30

Item — Box: 67, Folder: 23

Identifier: CAC_CC_009_2_67_23_0012

Staff Only

The Indian Financing Act of 1973 aims to provide capital to help develop and utilize Indian resources, improve standard of living, and integrate Indians into American life. The act establishes a revolving loan fund for Indians and Indian organizations to access credit for economic development purposes. Loans may be made for various purposes, with terms not exceeding thirty years and interest rates determined by the Secretary of the Treasury. The Secretary has the authority to cancel or adjust loans deemed uncollectible or not in the best interests of the United States.