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|projects
Eligible projects for the Aboriginal Business Financing Program (ABFP) include those that support small and medium-sized businesses through non-repayable contributions. The program covers various business needs, from planning to marketing and technology improvement.
- Development of business plans, marketing plans, feasibility studies
- Establishment, expansion, or acquisition
- Marketing initiatives
- Business support; project-related management
grant_single|admissibleProjectsExample
$25,000
Toronto
Expand a local organic grocery store in Toronto.
$20,000
Vancouver
Develop a digital marketing campaign to increase local brand awareness in Vancouver.
$25,000
Winnipeg
Upgrade manufacturing equipment to improve productivity in Winnipeg.
$25,000
Montreal
Launch a new eco-friendly product line in Montreal.
$25,000
Halifax
Establish a community training center in Halifax.
$25,000
Ottawa
Acquire a local bakery business in Ottawa.
grant_single_labels|admissibility
Eligible applicants for the ABFP program are individuals of Canadian Indigenous status or non-status, Metis or Inuit Heritage (on or off reserve), living and operating their businesses within the Atlantic provinces.
- Individuals of Canadian Indigenous status or non-status, Metis or Inuit Heritage (on or off reserve)
- Living and operating businesses within the Atlantic provinces
- Indigenous business and financial organizations
- Development corporations
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Aboriginal Business Financing Program (ABFP) include individuals of Canadian Indigenous status or non-status, Metis, or Inuit Heritage, living and operating their businesses within the Atlantic provinces. Additionally, Indigenous business and financial organizations, as well as development corporations, are also eligible for contributions.
- Individuals of Canadian Indigenous status or non-status
- Metis or Inuit Heritage individuals
- Indigenous business organizations
- Indigenous financial organizations
- Development corporations
grant_eligibility_criteria|eligible_expenses
Some eligible expenses for the Aboriginal Business Financing Program include, but are not limited to:
- Development of business plans, marketing plans, feasibility studies: Up to 75%
- Establishment, expansion, or acquisition: Up to 40%
- Marketing Initiatives: Up to 60%
- Business support; project-related management: Up to 90%
grant_eligibility_criteria|zone
Eligible applicants for the Aboriginal Business Financing Program (ABFP) 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.
- Individuals of Canadian Indigenous status or non-status
- Metis or Inuit Heritage
- Living and operating within the Atlantic provinces
- Indigenous business and financial organizations
- Development corporations
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: Complete Client Inquiry Form
- Use the assessment tool to determine where your business is strong and where you can improve.
- Step 2: Receive Recommended Tools
- Get tools to help you calculate loan repayments, create an online presence, and more.
- Step 3: Review Funding Program Options
- Based on the Client Inquiry Form, review funding options available to you.
- Step 4: Submit Application Package
- Submit your completed application package with the help of a Client Services Officer.
- Step 5: Get Continued Support
- Receive ongoing support from the Business Development Team, regardless of the application result.
grant_single_labels|otherInfo
The Aboriginal Business Financing Program (ABFP) administered by Ulnooweg offers non-repayable business contributions to individual Indigenous entrepreneurs and community-owned businesses.
- Development of business plans, marketing plans, feasibility studies: Up to 75%
- Establishment, expansion, or acquisition: Up to 40%
- Marketing Initiatives: Up to 60%
- Business support; project-related management: Up to 90%
- Eligible applicants include 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_single_labels|contact
1-888-766-2376
Apply to this program
Summary of the Aboriginal Business Financing Program (ABFP)
The Aboriginal Business Financing Program (ABFP), administered by Ulnooweg, provides non-repayable contributions to Indigenous entrepreneurs and community-owned businesses in Atlantic Canada, assisting with business planning, establishment, expansion, marketing, and more. This program aims to promote a robust Indigenous business sector by supporting eligible individuals and organizations through financial assistance and advisory services.
In-Depth Overview of the Aboriginal Business Financing Program (ABFP)
The Aboriginal Business Financing Program (ABFP) plays a crucial role in fostering the growth and development of Indigenous businesses in Atlantic Canada. Managed by the Ulnooweg Development Group, the program is designed to provide financial aid and professional guidance to Indigenous entrepreneurs, helping them navigate the complexities of starting, expanding, and maintaining successful business operations. Whether you are an individual entrepreneur, a community-owned business, or a partnership, the ABFP offers various forms of support tailored to meet your specific needs.
Eligibility Criteria
To be eligible for the ABFP, applicants must meet specific requirements. Individuals must be of Canadian Indigenous status or non-status, Metis, or Inuit Heritage, living and operating their businesses within the Atlantic provinces. This inclusivity extends to Indigenous business and financial organizations, as well as development corporations. The program's broad eligibility ensures that a wide range of Indigenous entrepreneurs and entities can benefit from its resources and support.
Types of Financial Support
The ABFP provides non-repayable contributions, which significantly lessen the financial burden on entrepreneurs. The financial support can cover a variety of essential business needs, including but not limited to:
- Business Planning: Assistance with the development of comprehensive business plans, marketing strategies, and feasibility studies, with funding covering up to 75% of the costs.
- Establishment, Expansion, or Acquisition: Financial aid for setting up new businesses, expanding existing operations, or acquiring new businesses, covering up to 40% of the expenses.
- Marketing Initiatives: Support for local, domestic, or export-oriented marketing efforts, with up to 60% of the costs eligible for funding.
- Business Support Services: Funding for project-related management, business-related training, and mentoring services, covering up to 90% of the associated costs.
Application Process
The ABFP follows a structured yet flexible application process designed to evaluate the viability and potential of proposed business projects. The process involves several key steps:
- Initial Consultation: Engage with the Ulnooweg team to discuss your business idea and determine initial eligibility. This step is crucial to ensure that your project aligns with the program's objectives and requirements.
- Detailed Application Submission: Prepare and submit a detailed application, including business plans, financial projections, and other relevant documents. The Ulnooweg team provides guidance throughout this process to ensure that your application is thorough and compelling.
- Assessment and Approval: The submitted application undergoes a comprehensive review by Ulnooweg's assessment team. They evaluate the project's feasibility, financial projections, and alignment with program goals before making a decision.
- Funding Agreement: Upon approval, a funding agreement is drafted outlining the terms and conditions of the financial support. This document ensures transparency and mutual understanding between the entrepreneur and Ulnooweg.
- Disbursement and Monitoring: Funds are disbursed according to the agreed schedule, and the project is monitored to ensure compliance with the funding agreement. Ongoing support and guidance are provided to help entrepreneurs achieve their business objectives.
Additional Support Services
Beyond financial contributions, the ABFP offers a range of additional support services that are pivotal for the success and sustainability of Indigenous businesses. These services include:
- Advisory Services: Ulnooweg offers expert advice on business development, financial planning, and market strategies. These advisory services empower entrepreneurs with the knowledge and skills needed to thrive in competitive markets.
- Business Partnerships: The program facilitates business partnerships, helping entrepreneurs connect with potential partners and collaborators. These partnerships can provide access to new markets, resources, and business opportunities.
- Training and Mentoring: To enhance the entrepreneurial skills of participants, the ABFP supports management training and mentoring. These initiatives are tailored to address the unique challenges faced by Indigenous entrepreneurs and provide them with the tools required for long-term success.
Success Stories
The impact of the ABFP is best illustrated through the success stories of Indigenous entrepreneurs who have benefited from the program. For instance, Warren Benoit of JBD Contracting leveraged the financial support from Ulnooweg to expand his business. With the funds and guidance, Benoit was able to purchase new equipment and manage excavation projects more effectively, leading to significant business growth and improved service delivery.
Such success stories highlight the transformative potential of the ABFP in empowering Indigenous entrepreneurs. By providing both financial and non-financial support, the program ensures that businesses can overcome initial hurdles and achieve sustainable growth.
Conclusion
The Aboriginal Business Financing Program (ABFP) is an invaluable resource for Indigenous entrepreneurs in Atlantic Canada. By offering non-repayable contributions, professional guidance, and a range of support services, the program addresses the unique challenges faced by Indigenous businesses. Ulnooweg's dedicated team ensures that each application is meticulously reviewed and supported, fostering a vibrant and resilient Indigenous business sector.
Whether you are in the early stages of business planning or looking to expand an existing enterprise, the ABFP provides the necessary resources and expertise to help you succeed. Reach out to Ulnooweg today to explore how the ABFP can support your entrepreneurial journey.
