On and after May 10, 1939, no individual of less than one-quarter degree of Indian blood shall be eligible for a loan from funds made available in accordance with the provisions of the Act of June 18, 1934 (
48 Stat. 986) [
25 U.S.C.
461 et seq.], and the Act of June 26, 1936 (
49 Stat. 1967) [
25 U.S.C.
501 et seq.].