Aboriginal Business Financing Program - Private Project

Who is eligible?

The Aboriginal Business Financing Program (ABFP) is designed for First Nations individuals, communities, and corporations in Quebec, as well as members of the Native Alliance of Quebec. Applicants must meet certain criteria including holding a viable business project, having necessary financial resources (at least 10% equity of the project cost), good credit rating, experience and training in the relevant field, and full-time commitment to the business. Their business must not be involved in gambling, sex, alcohol, or tobacco sectors, and the funding is considered a last resort after all other sources of financing have been exhausted. The program is open for both private and community projects, with different maximum contributions for each category.

Who is not eligible

Companies engaged in certain sectors are not eligible for this non-refundable contribution. This restriction ensures that funds are allocated to businesses that align with the program's intended objectives.

• Businesses involved in the gambling industry.
• Companies in the sex industry.
• Organizations engaged in the production or sale of alcohol.
• Businesses dealing with tobacco products.

Eligible expenses

The grant covers expenses specifically related to the start-up, expansion, management, and development of Indigenous businesses.

• Development of a business plan, marketing plan, or feasibility studies (assessments, environmental studies, etc.).
• Start-up, acquisition, or expansion of a business.
• Implementation of marketing activities.
• Project-related management.
• Professional advisory services after the business is launched (e.g., accountant or other services).

Eligible geographic areas

This grant is targeted at First Nations and the Native Alliance of Quebec, but specific eligible geographical areas are not clearly defined in the provided information. Eligibility is based on affiliations rather than geographical location.

Here are additional relevant details for this grant:

• No expenses incurred prior to the final approval of the application file will be considered eligible in the calculation of the non-refundable contribution.
• A non-refundable contribution is considered a last-resort financing option, which means all additional sources of financing must have been considered and approved, and both borrowing capacity and equity must be at their maximum.
• The level of contribution varies based on the type of expense, with business plans, feasibility studies, and professional advisory services having higher contribution rates compared to others.
• The grant requires mandatory full-time involvement in the business by the applicant.
• Contact details and hours of operation for further inquiries are provided, including phone numbers and email.
• Native Commercial Credit Corporation offers resources like term loans and support alongside non-refundable contributions.