Aboriginal Business Financing Program — Community project
QC, Canada
Business funds for First Nations communities in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Native Commercial Credit Corporation
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a non-refundable contribution of up to $1 million for businesses owned by a First Nation, the Native Alliance of Quebec, or by one of their members. Funds can be used for business start-up or expansion, marketing, project management, professional advi
grant_single_labels|projects
Eligible activities for this grant include the start-up, acquisition, or expansion of a business, implementation of marketing activities, project-related management, and professional advisory services after the business is launched. Additional activities can cover the development of a business plan, marketing plan, or feasibility studies.
- Start-up, acquisition or expansion of a business
- Implementation of marketing activities
- Project-related management
- Professional advisory services after the business is launched
- Development of a business plan, marketing plan, or feasibility studies (assessments, environmental studies, etc.)
grant_single|admissibleProjectsExample
$1,000,000
Toronto
Launching an Indigenous-owned organic farm in Toronto to supply local markets and community-supported agriculture.
$1,000,000
Winnipeg
Expanding a First Nations-owned daycare center in Winnipeg to accommodate more children and provide specialized programs.
$1,000,000
Halifax
Acquiring a restaurant in Halifax specializing in traditional Indigenous cuisine to promote cultural heritage.
$1,000,000
Vancouver
Developing a business plan and feasibility study for a First Nations-owned renewable energy project in Vancouver.
$1,000,000
Montreal
Establishing a cooperative café in Montreal that offers Indigenous-themed beverages and artisan crafts.
$1,000,000
Calgary
Launching an Indigenous art gallery in Calgary to promote and sell local artists' works.
grant_single_labels|admissibility
Eligibility criteria:
- Be a First Nation or the Native Alliance of Quebec
- Be a member of a First Nation or the Native Alliance of Quebec
- Be a corporation owned by a First Nation, the Native Alliance of Quebec, or one of their members
- Have necessary financial resources (equity: 10% minimum of the project cost)
- Present a viable business project
- Have a good credit rating
- Have experience and training in the field of activities
- Mandatory full-time involvement in the business
- Operate a business not involved in gambling, sex, alcohol, or tobacco sectors
grant_eligibility_criteria|who_can_apply
First Nations and the Native Alliance of Quebec are eligible types of companies for this grant. They can receive funding for activities such as starting up, acquiring, or expanding a business, implementing marketing activities, and receiving professional advisory services.
- Abenaki
- Algonquin
- Atikamekw
- Cree
- Huron-Wendat
- Malecite
- Micmac
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant. Companies involved in the sectors of gambling, sex, alcohol, and tobacco are not eligible for this grant.
- Companies involved in gambling
- Companies involved in sex-related activities
- Companies involved in alcohol production or distribution
- Companies involved in tobacco production or distribution
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include the cost of the project, net value of the applicant (equity), and other available sources of financing.
- Cost of the project
- Net value of the applicant (equity)
- Other available sources of financing
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The eligibility and evaluation criteria are:
- Must be a First Nation or part of the Native Alliance of Quebec
- Must have the necessary financial resources (equity: 10% minimum of the project cost)
- Present a viable business project
- Good credit rating
- Experience and training in the field of activities
- Mandatory full-time involvement in the business
- Operate a business not involved in certain sectors (gambling, sex, alcohol, tobacco)
grant_single_labels|register
- Be a First Nation or the Native Alliance of Quebec, a member of a First Nation or the Native Alliance of Quebec, or a corporation owned by a First Nation, the Native Alliance of Quebec, or one of their members.
- Have the necessary financial resources (equity: 10% minimum of the cost of the project).
- Present a viable business project.
- Have a good credit rating.
- Have experience and training in the field of activities.
- Mandatory full-time involvement in the business.
- Operate a business not involved in the sectors of gambling, sex, alcohol, tobacco.
grant_single_labels|contact
administration@socca.qc.ca
1-800-241-0972
Apply to this program
Aboriginal Business Financing Program (ABFP) Summary
Aboriginal Business Financing Program (ABFP) Detailed Overview
The Aboriginal Business Financing Program (ABFP) offers financial support to First Nations and the Native Alliance of Quebec for business start-ups, expansions, and marketing activities. This program provides non-refundable contributions of up to $99,999 for private projects and up to $1 million for community projects. Eligible activities include developing business plans, implementing marketing strategies, and obtaining professional advisory services.
The program requires applicants to be First Nations or members of the Native Alliance of Quebec, have sufficient financial resources, present a viable business plan, maintain a good credit rating, and demonstrate experience in the relevant field. The ABFP emphasizes full-time involvement in the business, prohibits participation in specific sectors, and considers other sources of financing before offering non-refundable contributions. Applicants must meet equity requirements based on the net value of their businesses or projects.
Through the ABFP, individuals and Band Councils can access funding for various business activities, with contribution rates ranging from 40% to 75% depending on the type of project. The program also evaluates factors such as eligible expenses, applicant equity, and other available financing options to determine the contribution amount. It is essential for applicants to submit their project proposals for approval before incurring any expenses, as pre-approval costs are not considered for the non-refundable contribution.
Overall, the Aboriginal Business Financing Program aims to support economic development initiatives among Indigenous communities by facilitating access to financing for business ventures and activities that contribute to sustainable growth and prosperity.
