Letter from Constituent to John Happy Camp about Indian Financing Act of 1973: Promoting Economic Development for Indigenous Communities, 1973-08-02

Item — Box: 67, Folder: 23

Identifier: CAC_CC_009_2_67_23_0027

Staff Only

The Indian Financing Act of 1973 aims to provide capital on a reimbursable basis to help develop and utilize Indian resources, improve their standard of living, and integrate them into American society. The Act establishes an Indian Revolving Loan Fund to provide credit for economic development to individual Indians and Indian organizations. 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 that are deemed uncollectable.