Reparations Model Legislation for Business and Home Loan Financing and Insurance

The Indian Financing Act of 1974 was passed in September 1974. The Act led to the formation of programs focusing on low-interest loans, loan guarantees for private loans, and grants to establish Native American economic initiatives. The Act further established the Indian Business Development program to stimulate and increase Native American entrepreneurship and employment by providing equity capital and interest subsidies to reduce the cost of borrowing from private lenders. Similar follow on programs included the Indian Loan and Guaranty and Insurance Fund, the Indian Revolving Loan Fund, and the Indian Business Development Program – each of which successfully served the same purpose in distributing billions of dollars of low interest and insured loans and grants to Native Americans and descendants of Native Americans adversely affected by colonization.

Again, the Indian Financing Act of 1974 and related programs and funds each survived various constitutional and legal challenges and could serve as additional model legislation supporting forms of slavery reparations other than direct cash payments – such as federally subsidized and insured student loans for African American youth, federally subsidized and insured housing loans for African Americans seeking home ownership, and federally subsidized and insured business loans for African American entrepreneurs. If such programs were afforded to Native Americans for past grievances, then the same should be true for African Americans.