[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR101.4]

[Page 291-292]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 101_LOANS TO INDIANS FROM THE REVOLVING LOAN FUND--Table of Contents
 
Sec. 101.4  Applications.

    An applicant for a United States direct loan or a loan from a 
relending organization conducting a relending program under this part 
will submit an application on a form approved by the Commissioner. 
Applications shall include the name, current address and telephone 
number of the applicant(s); current and prior Taxpayer Identification 
Number--Employer Identification Number if a business entity, Social 
Security Number if an individual; and current employer's name, address, 
and telephone number; amount of the loan requested; purpose for which 
loan funds will be used; and security to be offered; period of the loan, 
assets, liabilities and repayment capacity of the applicant; budgets 
reflecting income and expenditures of the applicant; and any other 
information necessary to adequately evaluate the application. The 
borrower must sign a statement declaring no delinquency on Federal taxes 
or other Federal debt and borrower's good standing on dealings in 
procurement or non-procurement with the Federal Government. The Bureau 
will obtain a current credit bureau report and prescribe procedures to 
be used in handling loan proceeds. In addition, applications for loans 
to finance economic enterprises already in operation will be accompanied 
by:
    (a) A copy of operating statements, balance sheets and budgets for 
the prior two operating years or applicable period thereof preceding 
submittal of the application;
    (b) Current budget, balance sheet and operating statements; and
    (c) Pro forma budgets operating statements and balance sheets 
showing the estimated results for operating the enterprise for two years 
after injection of the loan funds into the operation.

A resume of the applicant's management experience will be submitted with 
the application. Applications for loans and requests for advance of 
tribal trust funds for relending under the provisions of this part shall 
be accompanied by a declaration of policy and plan of operation or other 
acceptable plan for conducting the program. Applications for loans or 
modifications thereof, to establish, acquire, operate, or expand an 
economic enterprise shall be accompanied by a plan of operation. 
Declarations of policy or other plans for conducting a relending program 
and plans of operation for economic enterprises require the approval of 
the Commissioner before becoming effective. An application from a 
corporation, partnership or cooperative association, for a United States 
direct loan or a loan under a relending program for financing an 
economic enterprise must, in addition to financial statements and 
budgets, include a copy of documents establishing the entity, or the 
proposed

[[Page 292]]

documents to be used in establishing it.

[40 FR 3587, Jan. 23, 1975. Redesignated at 47 FR 13327, Mar. 30, 1982, 
as amended at 57 FR 46471, Oct. 8, 1992]