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| PURPOSE: |
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To stimulate and increase Indian entrepreneurship and employment through the establishment, acquisition or expansion of profit-making Indian-owned economic enterprises which will contribute to the economy of a reservation. Availability of funding varies annually. |
| SERVICES AVAILABLE: |
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- Loan Guaranty Fund.
- Business works through approved lender.
- Requires minimum 20 percent equity investment by participant.
- BIA guarantees loan up to a maximum of 90 percent.
- Interest is limited depending on guarantee percentage requested.
- Maximum loan amount $500,000 (individuals) and $5.5 million for tribes.
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| ELIGIBILITY REQUIREMENTS: |
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Applicants must be a federally recognized Indian tribe or Alaska Native group; a member of such tribe or group; an Indian-owned corporation, partnership, or cooperative association. The loan must be to finance for profit businesses that will benefit the economy of an Indian reservation. |
| COST OF SERVICES: |
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Two percent loan guaranty fee if approved. |
| GEOGRAPHICAL AREA SERVED: |
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Financial assistance available to businesses located on or near Indian Reservations in South Dakota, North Dakota and Nebraska (Great Plains Region), and throughout the United States. |
| CLIENTELE SERVED: |
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Tribes, tribal organizations and enrolled tribal members to finance for profit businesses that will benefit the economy of an Indian reservation. |
| SPONSORING/FUNDING AGENT: |
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U. S. Government. |
| CONTACT: |
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See your local lender, the BIA Agency office program nearest the location where the economic enterprise will be located. |
| ADDRESS: |
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Bureau of Indian Affairs
Great Plains Regional Office
Branch of Economic Development
115 4th Avenue SE
Aberdeen, SD 57401-4384
605-226-7343
Fax: 605-226-7446 |
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Last Updated ( Monday, December 24, 2007 )
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