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ERIC Number: ED068258
Record Type: Non-Journal
Publication Date: 1971-Dec
Pages: 21
Abstractor: N/A
Reference Count: N/A
Indians' Problems in Acquiring Development Capital. Four Corners Agriculture and Forestry Development Study. Special Report No. 11.
Fuller, Stephen W.
The difficulty with which American Indians acquire equity capital and an examination of selected Federal programs which make this type of credit available to this minority group are discussed in this report. Specifically, collateral, fractional heirship, ownership of chattels, managerial training, repayment, and servicing of loans are discussed as barriers to capital acquisition. The government agencies analyzed which provide this capital are the Bureau of Indian Affairs (BIA), The Farmers Home Administration, The Economic Development Administration, The Small Business Administration, and the Office of Economic Opportunity. Specific suggestions are that Congress (1) authorize and appropriate at least an additional $50 million for the revolving loan fund; (2) inaugurate and establish a $200 million loan guaranty fund; (3) authorize interest subsidies on guaranteed loans; (4) authorize the BIA to sell existing revolving fund loans to financial institutions; and (5) authorize tribes to issue bonds exempt from Federal income tax for purposes related to the governmental affairs or operations of the tribe. It is noted that a major factor limiting the Indian in his competition for credit is his lack of managerial training. (HBC)
Publication Type: N/A
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: New Mexico State Univ., Las Cruces. Agricultural Experiment Station.; Four Corners Regional Commission, Santa Fe, NM.