Aboriginal Business Loans — General

The Aboriginal Business Loans — General provides Indigenous Entrepreneurs with flexible lending options to foster their business endeavors. Loans are tailored to meet various business sizes and capital requirements.

• Loan amounts available up to $750,000 for individuals.
• Loan amounts up to $1.5 million available for communities, contingent on capital availability.
• Various interest rates apply, depending on loan specifics.
• Maximum amortization period extends up to 20 years.
• Loans may require security based on cash flows and collateral.

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.

Who is eligible?

Who is not eligible

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

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.

Eligible geographic areas

This grant is targeted at businesses that are situated within specified regions to promote regional economic growth. Eligible geographical areas are clearly defined to support Indigenous entrepreneurs across various locations.

• Businesses operating within the Atlantic provinces of Canada.

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

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.