Administrative Agency:

Federal Agency: U.S. Department of the Interior (DOI), Office of Indian Energy and Economic Development (OIEED)

Program Goals:

To provide loan guarantees to assist in the development of Native-owned enterprises that will create jobs and other economic benefits for Alaska Native communities.

Resource Provided:

Loan guarantees of up to $500,000 for individual Natives. The program can guarantee loans of greater amounts for tribes, tribal enterprises, and ANCSA corporations. 80% and 90% guarantees are offered on commercial bank loans.

Eligibility:

For-profit and non-profit enterprises at least 51% owned and operated by Alaska Natives, American Indians, ANCSA corporations, and tribal entities recognized by federal statutes. Must actively operate the business on a day-to-day basis, and invest 20% of its own resources in it. Must secure a commitment for financing from a bank.

Alaska Program Status:

The annual allocation for Alaska varies from year to year.

Comments:

Applicant must furnish information on the number of jobs to be created and/or sustained and the number of jobs for Native Americans.

Program Contact:  (Primary Contact listed first.)

Jennifer Cesar, Financial Analyst
Office of Indian Energy and Economic Development
U.S. Department of the Interior
1011 East Tudor, Suite 153
Anchorage, AK 99503
Phone: (907) 271-4018 (800) 645-8465 x3x4
Fax: (907) 271-4015
e-mail: jennifer.cesar@bia.gov