Empowering Indian Business: The Success of the Indian Business Development Fund, 1971-07-16

Item — Box: 91, Folder: 30

Identifier: CAC_CC_001_4_91_30_0009

Staff Only

The Bureau of Indian Affairs announced the success of the Indian Business Development Fund program, which has helped start 241 new businesses and expand 143 Indian-owned businesses since July 1970. These businesses are estimated to create 2,900 jobs and have an annual payroll of nearly $11.9 million. The program provides grants for Indians to establish or expand businesses on or near reservations, with the goal of increasing Indian employment and income. The program has been successful in generating loans from both government and commercial sources, with an average cost of $6,900 to create each permanent job. The program has received more applications than the allocated funds, showing a high demand for this type of support among Indian entrepreneurs.

Dates

1971-07-16

Language of Materials

English

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