Aboriginal Business Loans — Youth and Womens Loans
NS, Canada
Loans for Indigenous youth and women entrepreneurs in Atlantic Canada
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Ulnooweg
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a loan of up to $25,000 for any business need you have, at a fixed interest rate of 8% and a 5-year repayment term.
grant_single_labels|terms_and_conditions
Aboriginal Business Loans for Youth and Women provide accessible financing options specifically designed to empower Indigenous women and young entrepreneurs. These modalities are designed to enhance business growth without heavy dependency on collateral.
- Loan amounts available up to $25,000.
- Interest rate set at 9.25% over a maximum term of 5 years.
- Minimal security requirements are needed as loans are not based on collateral.
- A recommended cash equity contribution of 5%.
grant_single_labels|projects
This grant aims to support business development activities for Indigenous Women and Youth Entrepreneurs in Atlantic Canada. The eligible projects focus on establishing, expanding, and enhancing entrepreneurial ventures through financial assistance and strategic business planning.
- Development of business plans and marketing plans.
- Feasibility studies for new business initiatives.
- Business establishments and expansions.
- Marketing initiatives, both domestic and export-oriented.
- Support for new product or process development.
- Adding technology to improve business operations and competitiveness.
- Business acquisitions.
- Financial services and business support activities.
- Business-related training and mentoring services.
grant_single|admissibleProjectsExample
$ 25,000
Upgrade manufacturing equipment to improve productivity
$ 25,000
Launch a new eco-friendly product line
$ 25,000
Establish a community training center
$ 20,000
Develop a digital marketing campaign to increase local brand awareness
$ 25,000
Acquire a local bakery business
$ 25,000
Expand a local organic grocery store
grant_single_labels|admissibility
Eligibility for the Aboriginal Business Financing Program (ABFP) is based on specific criteria related to the applicant's heritage, location, and business operations.
- The applicant must be an individual of Canadian Indigenous status or non-status, Metis, or Inuit heritage.
- The applicant must reside and operate their business within the Atlantic provinces of Canada.
- Indigenous business and financial organizations, as well as development corporations, are eligible for contributions.
grant_eligibility_criteria|who_can_apply
Eligible applicants are individuals of Canadian Indigenous status or non-status, Metis or Inuit Heritage, 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|eligible_expenses
This grant supports the growth and development of Indigenous businesses in Canada by providing financial contributions towards various business-related activities. The eligible projects emphasize business planning, expansion, marketing, and technological advancements.
- Development of business plans, marketing plans, and feasibility studies.
- Expenses related to business establishment, expansion, or acquisition.
- Local, domestic, or export-oriented marketing initiatives.
- New product or process development to enhance business operations.
- Adding technology to improve business competitiveness.
- Providing business support, management training, and mentoring services.
grant_eligibility_criteria|zone
This grant is designed for businesses operated by Indigenous individuals located in specific regions within Canada. Eligible companies must be situated within the Atlantic provinces.
- Newfoundland and Labrador
- Prince Edward Island
- Nova Scotia
- New Brunswick
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The Aboriginal Business Financing Program administered by Ulnooweg considers factors such as the project's eligibility, potential impact, and alignment with funding priorities.
- Project's eligibility
- Potential impact
- Alignment with funding priorities
grant_single_labels|register
- Step 1: Client Inquiry Form
- Use the assessment tool provided to evaluate your business strengths and areas for improvement.
- Fill out the Client Inquiry Form to initiate the process.
- Step 2: Recommended Tools
- Receive recommended tools from Ulnooweg to assist with loan calculations and establishing an online presence.
- Utilize these tools as your application is processed.
- Step 3: Funding Program Options
- Review the available funding options provided by Ulnooweg based on your needs.
- Step 4: Personal Connection
- Submit your completed application package with the help of the Client Services Officer.
- The officer will assist in navigating the application process and submit your application for assessment.
- Step 5: Continued Support
- Receive ongoing support from the Business Development Team regardless of the application outcome.
grant_single_labels|otherInfo
Here are additional relevant details for the grant programs offered by Ulnooweg:
- Flexible lending programs include measures to establish a credit rating for applicants, aiding them in future financial endeavors.
- The business financing support includes gender-specific training and mentoring, catering to diverse needs.
- The Micro Lending Program specifically supports micro-enterprises with a simplified and less stringent loan approval process.
- The Women & Youth Lending program is tailored to address the historical underrepresentation of Indigenous women and youth in entrepreneurship, offering easy access with minimal security requirements.
- Continued support from the Business Development Team is available, regardless of the outcome of the application assessment.
- Loans for various programs may vary in security requirements, ensuring accessibility for different business sizes and needs.
grant_single_labels|contact
1-888-766-2376