Letter from Constituent to John Happy Camp about Indian Financing Act of 1973: Economic Development for Indians and Indian Organizations, 1973-04-03

Item — Box: 67, Folder: 23

Identifier: CAC_CC_009_2_67_23_0013

Staff Only

The Indian Financing Act of 1973 aims to provide economic development opportunities for Indians, Indian tribes, and other Indian organizations. It establishes an Indian revolving loan fund to provide credit that is not available from private sources, with loans made based on the prospect of repayment and the inability to obtain financial assistance elsewhere. Loans may have a term of up to thirty years and bear interest at a rate determined by the Secretary of the Treasury. The Secretary is authorized to cancel or adjust uncollectible loans.