25 U.S.C. § 1461

Administration as single Indian Revolving Loan Fund sums from diverse sources; availability of fund for loans to Indians and for administrative expenses

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In order to provide credit that is not available from private money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to section 1481 of this title, all funds that are now or hereafter a part of the revolving fund authorized by the Act of June 18, 1934 (48 Stat. 986) [25 U.S.C. 5101 et seq.], the Act of June 26, 1936 (49 Stat. 1968),11 So in original. Probably should be “(49 Stat. 1967),”. and the Act of April 19, 1950 (64 Stat. 44), as amended and supplemented, including sums received in settlement of debts of livestock pursuant to sections 1545 and 1546 of this title, and sums collected in repayment of loans heretofore or hereafter made, and as interest or other charges on loans, shall hereafter be administered as a single Indian Revolving Loan Fund. The fund shall be available for loans to Indians having a form of organization that is satisfactory to the Secretary and for loans to individual Indians: Provided, That, where the Secretary determines a rejection of a loan application from a member of an organization making loans to its membership from moneys borrowed from the fund is unwarranted, he may, in his discretion, make a direct loan to such individual from the fund. The fund shall also be available for administrative expenses incurred in connection therewith, or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by section 1497 of this title, or for the payment of interest subsidies authorized by section 1511 of this title.

Notes of Decisions

Cited in 3 cases, 1986–1998 · leading case: Diane Zarr v. Earl Barlow, Dir., Off. of Indian Educ. Programs, Bureau of Indian Affairs, 800 F.2d 1484 (9th Cir. 1986).

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Diane Zarr v. Earl Barlow, Dir., Off. of Indian Educ. Programs, Bureau of Indian Affairs, 800 F.2d 1484 (9th Cir. 1986). “§ 482 (Act of May 7, 1949 — revolving loan fund); 25 U.S.C. § 1461 (Indian Financing Act — same).”

Cnty. of San Diego v. Babbitt, 847 F. Supp. 768 (S.D. Cal. 1994). “§ 450K, and the' Indian Finance Act, 25 U.S.C. § 1461 . The Indian Finance Act was specifically enacted to “help develop and utilize Indian resources, both physical and human, to a point where the Indians will fully exercise responsibility for the utilization and management of…”

Helgeson v. Bureau of Indian Affairs, Dep't of the Interior, 153 F.3d 1000 (9th Cir. 1998). “” 25 U.S.C. § 1461 . Direct loans may be made from this fund “for any purpose which will promote the economic development of (a) the individual Indian borrower .”

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