Funds may be used to buy lands, or acquire interest i Beginning in , the CDBG program is one of the longest continuously run programs a Program regulation Detached, semi-detached, row houses or multi-family structure Secondary markets available to purchase loan Housing Preservation Grant assistance is available from grantees to assis Intermediaries re-lend fund The financial transactions of the Secretary incident to or arising out of the guarantee or insurance of loans and surety bonds, and the acquisition, management, and disposition of property, real, personal, or mixed, incident to such activities, shall be final and conclusive upon all officers of the Government.
With respect to matters arising out of the guaranty or insurance program authorized by this subchapter, and notwithstanding the provisions of any other laws, the Secretary may—. There is hereby created an Indian Loan Guaranty and Insurance Fund hereinafter referred to as the "fund" which shall be available to the Secretary as a revolving fund without fiscal year limitation for carrying out the provisions of this subchapter.
All funds, claims, notes, mortgages, contracts, and property acquired by the Secretary under this section, and all collections and proceeds therefrom, shall constitute assets of the fund; and all liabilities and obligations of such assets shall be liabilities and obligations of the fund.
The Secretary is authorized to make agreements with respect to servicing loans or surety bonds held, guaranteed, or insured by him under this subchapter and purchasing such guaranteed or insured loans or surety bonds on such terms and conditions as he may prescribe. The Secretary may also utilize the fund to pay taxes, insurance, prior liens, expenses necessary to make fiscal adjustments in connection with the application and transmittal of collections, and other expenses and advances to protect the Secretary for loans or surety bonds which are guaranteed or insured under this subchapter or held by the Secretary, to acquire such security property at foreclosure sale or otherwise, and to pay administrative expenses.
There are authorized to be appropriated for each fiscal year beginning in fiscal year such sums as may be necessary to fulfill obligations with respect to losses on loans or surety bonds guaranteed or insured under this subchapter. All collections and all moneys appropriated pursuant to the authority of this subsection shall remain available until expended. The Secretary is authorized to provide a supplemental surety bond guarantee, not to exceed 20 percent of any loss, for any Indian individual or economic enterprise eligible for a surety guarantee under section b of title 15 , so that the aggregate of the two guarantees is percent.
The Secretary may provide a supplemental guarantee under this section only if the Secretary determines that—. The rules and regulations promulgated by the Secretary to carry out this section shall include the setting of reasonable fees to be paid by the Indian individual or economic enterprise and reasonable premium charges to be paid by sureties. In setting fees and charges, the Secretary may take into consideration the cost to the surety of providing the services required by paragraph 4 of subsection b.
The receipts from the fees and charges shall be deposited in the Fund established by section a of this title. A prior section of Pub. Such an issue shall be deemed a loan for purposes of sections , , , , , , , , , , , , and of this title. The Secretary is authorized under such rules and regulations as he may prescribe to pay as an interest subsidy on loans which are guaranteed or insured under the provisions of subchapter II of this chapter amounts which are necessary to reduce the rate payable by the borrower to the rate determined under section of this title.
Sums appropriated under this section, shall remain available until expended. There is established within the Department of the Interior the Indian Business Development Program whose purpose is to stimulate and increase Indian entrepreneurship and employment by providing equity capital through nonreimbursable grants made by the Secretary of the Interior to Indians and Indian tribes to establish and expand profit-making Indian-owned economic enterprises on or near reservations.
A grant may be made only to an applicant who, in the opinion of the Secretary, is unable to obtain adequate financing for its economic enterprise from other sources: Provided , That prior to making any grant under this subchapter, the Secretary shall assure that, where practical, the applicant has reasonably made available for the economic enterprise funds from the applicant's own financial resources.
No grant may be made to an applicant who is unable to obtain at least 60 per centum of the necessary funds for the economic enterprise from other sources. The Secretary of the Interior is authorized to prescribe such rules and regulations as may be necessary to carry out the purposes of this chapter.
For the purpose of providing the assistance required under section of this title , the Secretary is authorized to cooperate with the Small Business Administration and the Corporation for National and Community Service and other Federal agencies in the use of existing programs of this character in those agencies. In addition, the Secretary is authorized to enter into contracts with private organizations for providing such services and assistance.
Amendment by Pub. For the purpose of entering into contracts pursuant to section of this title in fiscal year , the Secretary is authorized to use not to exceed 6 percent of any funds appropriated for any fiscal year pursuant to section of this title.
For fiscal year and for each fiscal year thereafter, there are authorized to be appropriated such sums as may be necessary to carry out the provisions of this subchapter.
Notwithstanding any other provision of law, a contractor of a Federal agency under any Act of Congress may be allowed an additional amount of compensation equal to 5 percent of the amount paid, or to be paid, to a subcontractor or supplier, in carrying out the contract if such subcontractor or supplier is an Indian organization or Indian-owned economic enterprise as defined in this chapter.
All acceptances of cash settlements by the Commissioner of Indian Affairs for livestock lent by the United States to any individual Indian, or to any tribe, association, corporation, or other group of Indians, and all sales and relending of livestock repaid in kind to the United States on account of such loans are authorized and ratified: Provided , That on and after May 24, , the value of such livestock for the purposes of any such cash settlement shall be based on prevailing market prices in the area and shall be ascertained by a committee composed of three members, one of whom shall be selected by the superintendent of the particular agency, one of whom shall be selected by the chairman of the tribal council, and one of whom shall be selected by the other two members.
May 24, , ch. Section was enacted as part of act May 24, , ch. Section was formerly classified to section of this title prior to editorial reclassification and renumbering as this section. Businesses must be wholly owned by an enrolled member and can be located anywhere in the state, although the bulk of the loans are made to businesses on a reservation. DEED accepts applications on an on-going basis, subject to the availability of funds.
The department evaluates all applications and forwards a recommendation to the appropriate tribal council for final consideration. Loan proceeds may cover startup and expansion costs, including normal expenses such as machinery and equipment, inventory and receivables, working capital, new construction, renovation, and site acquisition.
Financing of existing debt is not permitted. Terms for real estate purposes are limited to no more than 20 years. Koi Nation of Northern California weathered the pandemic at their printing franchise with savings, loyal customers, new products, and long-term employees.
Dynamic Homes has been building successful communities across Indian Country for nearly 50 years. In , Ho-Chunk, Inc. Alaska Park is the only airport valet parking facility in Alaska. It has offered parking services since December Paul Island, Alaska. TDX built the facility on land that once was an eyesore to the community. Related to Loans.
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