Thursday, December 18, 2008

Navajo Nation in danger of losing $3.5 million

The Farmington Daily Times reports that the Navajo Nation is about to lose $3.5 million in loans, as two banks are calling the loans because two Navajo businesses have failed to make payments. The companies, Biochemical Decontamination Systems Manufacturing Inc. and Diné Poultry Products, both are in danger of defaulting on their loans. The combined loss will consume more than half of the Navajo Dam Escrow Account, which is valued at about $6 million.

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