Aboriginal Business Loans — General
NS, Canada
Loans for Indigenous entrepreneurs in Atlantic Canada
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
- Construction
- Other services (except public administration)
grant_single|grantors
- Ulnooweg
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a loan of up to $750,000 to start, expand or improve your Indigenous-owned business in Atlantic Canada.
grant_single_labels|projects
Eligible companies for the Aboriginal Business Financing Program (ABFP) must be located within specific geographical areas. The program focuses on Indigenous entrepreneurs and businesses operating within these regions in Canada.
- Companies operating within the Atlantic provinces of Canada.
grant_single|admissibleProjectsExample
$35,000
Adding e-commerce capabilities to an Indigenous-owned craft shop
$50,000
Launching a new Indigenous-owned tech startup focused on app development
$75,000
Expanding an Indigenous-owned bakery to include a café and event space
$60,000
Developing new biodegradable packaging products for an Indigenous-owned company
$100,000
Acquiring a local Indigenous art gallery to expand its reach and offerings
$35,000
Enhancing a local Indigenous community center with new technology and training programs
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and geographic location.
- Applicants must be individuals of Canadian Indigenous status or non-status, Metis, or Inuit Heritage.
- Applicants must live and operate their businesses within the Atlantic provinces.
- Indigenous business and financial organizations are also eligible for contributions.
- Development corporations are eligible for contributions as well.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the ABFP program include individuals of Canadian Indigenous status or non-status, Métis or Inuit heritage (on or off reserve), living and operating their businesses within the Atlantic provinces. Indigenous business and financial organizations, as well as development corporations are also eligible for contributions.
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for the grant. Indigenous businesses and financial organizations, as well as development corporations, are eligible for contributions.
- Non-Indigenous businesses
- Businesses operating outside the Atlantic provinces
grant_eligibility_criteria|eligible_expenses
This grant provides non-repayable contributions to support the development and growth of Indigenous businesses. The eligible projects span across planning, establishment, marketing, and support services.
- Development of business plans, marketing plans, and feasibility studies.
- Establishment, expansion, or acquisition of businesses.
- Local, domestic, or export-oriented marketing initiatives.
- New product or process development.
- Adding technology to improve operations and competitiveness.
- Financial services, business support, business-related training, and mentoring services.
grant_eligibility_criteria|zone
Eligible expenses for the Aboriginal Business Financing Program (ABFP) are those that support the establishment, expansion, and operational needs of Indigenous businesses.
- Business planning
- Establishment and operating costs
- Business acquisitions and expansions
- Local, domestic, or export oriented marketing initiatives
- New product or process development
- Adding technology to improve operations and competitiveness
- Financial services, business support, business-related training and mentoring services
grant_single_labels|criteria
There are evaluation and selection criteria for the grant. The evaluation process involves assessing the eligibility of the project, the potential impact, and the alignment with the program objectives.
- Demonstrated Indigenous status or heritage
- Business viability and potential for success
- Alignment with program objectives
- Potential impact on the Indigenous business sector
- Feasibility and sustainability of the project
- Evidence of financial need and clear budget planning
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Client Inquiry Form
- Complete the client inquiry form to assess the strengths and needs of your business.
- Step 2: Recommended Tools
- Receive and utilize business tools provided to assist with loan calculations, online presence, etc.
- Step 3: Funding Program Options
- Review the funding program options available based on your client inquiry form results.
- Step 4: Personal Connection
- Complete your application package.
- Submit your application with the assistance of a Client Services Officer who will forward it for assessment.
- Step 5: Continued Support
- Receive continued support from the Business Development Team regardless of the application result.
grant_single_labels|otherInfo
Additional relevant details for Ulnooweg's Aboriginal Business Financing Program and other funding programs include:
- Ulnooweg focuses specifically on supporting Atlantic Indigenous entrepreneurs.
- The financing programs are designed to not negatively impact other local businesses and to complement other support services.
- Programs are tailored with sensitivity to the needs of Indigenous entrepreneurs, including women and youth.
- Offerings are adaptable to meet diverse needs, providing flexibility in financing options.
- Continued support is provided regardless of application outcomes, ensuring ongoing business development.
- Loan programs focus on establishing a credit rating for applicants, aiding long-term financial viability.
- Micro Lending and Women & Youth Lending programs have minimal security requirements, allowing easier access to financial support.
Apply to this program
Empowering Indigenous Entrepreneurs Through Flexible Financing
The Ulnooweg Development Group provides comprehensive business funding solutions tailored for Indigenous entrepreneurs. This initiative offers various loan and non-repayable contribution programs designed to support new and growing Indigenous businesses across Atlantic Canada.
Ulnooweg Business Funding Programs: Driving Success for Indigenous Entrepreneurs
The Ulnooweg Development Group plays a pivotal role in fostering the growth of Indigenous businesses in Atlantic Canada through targeted financial assistance. This initiative is tailored specifically to meet the unique needs of Indigenous entrepreneurs, providing them with the necessary financial resources to either start a new business or expand an existing one, using a combination of loans and non-repayable contributions. The focus is on providing a supportive framework through which these entrepreneurs can achieve their business goals while also empowering their communities.
One of the cornerstone programs offered is the Micro Lending Program, which is designed with flexibility and accessibility in mind, particularly for micro-enterprises. By easing traditional security requirements and facilitating a simple application process, the program aims to empower entrepreneurs who may lack access to conventional financing routes. This approach is essential for fostering the beginning stages of entrepreneurship, offering up to $5,000 in loans at competitive rates.
In addition to supporting micro-entrepreneurs, Ulnooweg extends its resources to Indigenous women and youth through specialized lending programs. This decision acknowledges the historic underrepresentation of these groups in business and provides a tailored financial lifeline. Loan amounts reach up to $25,000, with simplified procedures making them accessible to a broader range of aspirants. With this support, Indigenous women and youth can enter entrepreneurship equipped with the financial backing they need to succeed and thrive in competitive markets.
For larger business projects that don't fit the criteria of other specific loans, the General Lending Program presents a viable option. This program caters to more established ventures requiring substantial capital investment for growth, offering flexibility in loan terms based on cash flow and collateral arrangements. Businesses can leverage up to $750,000 to $1.5 million, depending on their requirements, thereby facilitating entrepreneurial ventures that drive significant economic growth within their communities.
The Aboriginal Business Financing Program (ABFP), also administered by Ulnooweg, complements the loan programs by offering non-repayable contributions to both individual entrepreneurs and community-owned businesses. This program focuses primarily on supporting small and medium-sized enterprises poised to make a meaningful impact within their local and national markets. ABFP funding is versatile, with eligibility for expenses ranging from business planning and marketing to new product development and business acquisition. It aims to provide not just financial assistance but also enable the development of sustainable business practices through educational resources and mentorship.
Ulnooweg underscores the need for ongoing support beyond initial funding through the active role of its Business Development Team. By offering guidance throughout the application process and post-funding stages, the team ensures that recipients are well-equipped to manage their resources efficiently, monitor progress, and achieve the desired impact. This holistic approach ensures that the initiative remains relevant, sustainable, and beneficial to the communities it serves.
Ultimately, these programs by Ulnooweg Development Group represent a strategic investment in Indigenous economic development. By tailoring financing options to the specific needs and challenges faced by Indigenous entrepreneurs, Ulnooweg not only contributes to individual business success but also to the broader economic empowerment of Indigenous communities. The initiative embodies a model of inclusive growth, prioritizing Indigenous participation in the economy while respecting and supporting cultural values and community goals.
