Content provided by the Catalog of Federal Domestic Assistance
10.421 Indian Tribes and Tribal Corporation Loans
FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
Loans to Indian Tribes and Tribal Corporations Act, Section 488-492, Public Law 91-229.
To enable federally recognized Indian tribes and tribal corporations to acquire land within tribal reservations and Alaskan communities.
TYPES OF ASSISTANCE:
USES AND USE RESTRICTIONS:
Loan funds may be used to acquire land and interest therein for the benefit and use of the tribe or its members for purposes such as rounding out farming and ranching units or elimination of fractional heir ships. Funds may also be used for incidental costs connected with land purchase such as appraisals, title clearance, legal services, land surveys, and loan closing. Loan funds may be used to refinance non-United States Department of Agriculture preexisting debts that applicant incurred to purchase land subject to certain conditions. Loan funds cannot be used for any improvement or development purposes, acquisition or repair of buildings or personal property, payment of operating costs, payment of finder's fees, or similar costs.
Applicant Eligibility: Limited to any Indian tribe recognized by the Secretary of the Interior or tribal corporation established pursuant to the Indian Reorganization Act or community in Alaska incorporated by the Secretary of Interior pursuant to the Indian Reorganization Act which does not have adequate uncommitted funds to acquire lands within the tribe's reservation or in a community in Alaska. The tribe must be unable to obtain sufficient credit elsewhere at reasonable rates and terms and must be able to show reasonable prospects of repaying the loan as determined by an acceptable repayment plan and a satisfactory management plan for the land being acquired.
Pre-application Coordination: The Secretary of the Interior must determine that lands to be acquired lie within a tribal reservation or community in Alaska incorporated by the Secretary of the Interior pursuant to the Indian Reorganization Act. The standard application forms as furnished by the Federal agency and required by OMB Circular No. A-102 must be used for this program. An environmental assessment is required for this program. This program is excluded from coverage under E.O. 12372.
Formula and Matching Requirements: Program size and requirement does not permit equitable distribution on a Tribe or State basis. The loan assistance may equal the project cost if the applicant is financially unable to contribute a part of the cost. This program has no statutory formula or matching requirements.
POST ASSISTANCE REQUIREMENTS:
Account Identification: 12-4140-0-3-351; 12-1140-0-1-351.
One loan was awarded in fiscal year 2001, one loan has been awarded so far in fiscal year 2002.
REGULATIONS, GUIDELINES, AND LITERATURE:
7 CFR Part 770, and FSA Handbook 6-FLP, Part 2., FMHA Instruction 442.11, FMHA Credit for American Indians, PA-1129.
Regional or Local Office: None.
EXAMPLES OF FUNDED PROJECTS:
CRITERIA FOR SELECTING PROPOSALS: