Aboriginal Entrepreneurship Program — Access to Capital
Canada
Financial support for Indigenous entrepreneurs
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grant_single|eligibleFinancing
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- grant_single|timelineUnspecified
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Grant and Funding
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- National Aboriginal Capital Corporation Association (NACCA)
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grant_card_status|open
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Get a non-repayable contribution of up to $99,999 for business planning, acquisitions, expansion, domestic or export marketing, new product or process development, introducing new technologies and more.
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This program supports Indigenous entrepreneurs and businesses across Canada through a network of designated financial institutions. All regions with access to these institutions are eligible for grant applications under this program.
- All regions across Canada where Indigenous Financial Institutions operate.
- Areas within Canada served by Métis Capital Corporations.
grant_single|admissibleProjectsExample
$70,000
Expansion of Indigenous-owned eco-tourism business
$80,000
Launching a new Indigenous-owned organic farm
$60,000
Developing a digital marketing platform to support local Indigenous artisans
$60,000
Creating an Indigenous entrepreneurship training program
$70,000
Acquiring an Indigenous-owned retail store for community-made crafts
$50,000
Starting an Indigenous health food store
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Eligibility for the Aboriginal Entrepreneurship Program: Access to Capital is available to certain Indigenous individuals and organizations. Here are the criteria:
- Indigenous individuals, including businesses owned and controlled by Indigenous Peoples, are eligible to apply.
- Indigenous organizations and associations, except those with charitable or religious purposes, can also apply.
grant_eligibility_criteria|who_can_apply
Eligible recipients include Indigenous individuals, including businesses owned and controlled by Indigenous Peoples, and Indigenous organizations and associations (except those with charitable or religious purposes). Funding can be accessed through Indigenous Financial Institutions and Métis Capital Corporations across Canada. Eligibility varies between IFIs and MCCs. Consult with your local IFI or MCCs to see if you are eligible.
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Some types of companies that are not eligible for this grant include:
- Indigenous organizations and associations with charitable or religious purposes
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The Aboriginal Entrepreneurship Program's Access to Capital stream supports Indigenous entrepreneurs by providing financial backing and business services. Eligible projects include starting a new business, expanding existing operations, or acquiring businesses by Indigenous owners.
- Start a new business venture by Indigenous entrepreneurs.
- Expand current Indigenous-owned business operations.
- Acquire a business by an Indigenous owner.
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Eligible geographic zones for this grant include various regions across Canada, accessible through Indigenous Financial Institutions and Métis Capital Corporations. Below are the corporations you can contact depending on your location:
- National Aboriginal Capital Corporations Association
- Apeetogosan (Métis) Development Inc.
- Métis Financial Corporation of BC
- Louis Riel Capital Corporation
- Métis Voyageur Development Fund Inc.
- SaskMétis Economic Development Corporation
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There are evaluation and selection criteria for this grant:
- Demonstrated need and estimated budget of the business proposal
- Scope of the business proposal
- Eligibility of the applicant as an Indigenous individual or organization
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- Step 1: Identify Local IFI or MCC
- Research and locate your local Indigenous Financial Institution (IFI) or Métis Capital Corporation (MCC).
- Consult the National Aboriginal Capital Corporations Association website to find a comprehensive list of IFIs and MCCs.
- Step 2: Initial Contact
- Reach out to the identified local IFI or MCC to express your interest in applying for the grant.
- Inquire about specific eligibility criteria and application requirements as they may vary between institutions.
- Step 3: Prepare Application
- Gather necessary documentation, which may include business plans, financial statements, and relevant certifications or permits.
- Complete any preliminary assessments or worksheets provided by the IFI or MCC.
- Step 4: Submit Application
- Submit your completed application and all supporting documents directly to your local IFI or MCC as per their submission guidelines.
- Ensure all parts of your application meet the requirements outlined by the institution.
- Step 5: Follow-Up
- Maintain communication with the IFI or MCC for any updates or requests for additional information.
- Prepare for any interviews or further assessments if required by the institution.
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Here are additional relevant details for this grant:
- The program is administered by the National Aboriginal Capital Corporations Association (NACCA) across Canada through a network of Indigenous Financial Institutions (IFIs) and Métis Capital Corporations (MCCs).
- Funding available under the program includes both a non-repayable equity contribution and support for lending costs to enhance access to capital.
- Individual Indigenous entrepreneurs can receive up to $99,999, while community businesses can receive up to $250,000 in funding assistance.
- The amount of funding approval is dependent on the scope, demonstrated need, and estimated budget of the proposal.
- The program extends to First Nations, Inuit, and Métis businesses across Canada, enhancing their access to capital.
Apply to this program
Empowering Indigenous Entrepreneurs through Access to Capital
The Aboriginal Entrepreneurship Program: Access to Capital is a crucial initiative aimed at fostering Indigenous business growth by providing financial support to First Nations, Inuit, and Métis entrepreneurs and businesses across Canada. This program, administered by NACCA, helps mitigate financial barriers, offering non-repayable equity contributions to expand business opportunities and supports Indigenous Financial Institutions in their lending capabilities.
In-Depth Insight into the Aboriginal Entrepreneurship Program
This comprehensive program is pivotal in empowering Indigenous entrepreneurs by providing them with the necessary financial backing to thrive in the competitive business landscape. By facilitating access to capital, it aims to address the unique challenges faced by Indigenous business owners, fostering a robust ecosystem for entrepreneurship and economic development. The Aboriginal Entrepreneurship Program (AEP) functions through a well-coordinated network of Indigenous Financial Institutions (IFIs) and Métis Capital Corporations (MCCs), strategically positioned to enhance access to financial resources for First Nations, Inuit, and Métis communities across Canada.
With a focus on non-repayable equity contributions, the AEP significantly reduces the financial burden on Indigenous entrepreneurs, allowing them to focus on the growth and sustainability of their businesses. Individual Indigenous entrepreneurs can receive up to CAD 99,999, while Indigenous community businesses can access up to CAD 250,000. This level of funding is not only instrumental in starting new ventures but also crucial for expanding existing businesses and acquiring new business opportunities. The support extends beyond mere funding; it covers lenders’ borrowing and operational costs, thereby enhancing the lending abilities of IFIs and MCCs, ensuring a supportive and thriving economic environment for Indigenous businesses.
The program is designed to be inclusive and accessible, with no fixed application deadlines, providing flexibility for Indigenous entrepreneurs to apply for funding at their convenience. This reflects the program's commitment to removing barriers and accommodating the diverse needs of Indigenous business owners, thereby promoting sustainable economic development within Indigenous communities. The devolved nature of the program, managed by NACCA, leverages local expertise and ensures that the funding is impactful and tailored to the specific requirements of the respective communities.
Furthermore, the AEP is aligned with broader economic policies and initiatives aimed at bridging the economic disparities faced by Indigenous Peoples in Canada. By empowering individuals and communities through financial support, the program plays a vital role in enhancing economic self-sufficiency and fostering a climate of entrepreneurship among Indigenous populations. This, in turn, contributes to the overall economic well-being of Canada by fostering diversity, encouraging innovation, and creating job opportunities within Indigenous and non-Indigenous communities.
Another crucial aspect of the AEP is its emphasis on collaboration and strategic partnerships. By working closely with IFIs, MCCs, and other stakeholders, the program fosters a collaborative approach to economic development, leveraging collective expertise and resources to maximize support for Indigenous entrepreneurs. This networked approach not only enhances access to capital but also provides a platform for knowledge exchange, capacity building, and entrepreneurial growth among Indigenous businesses.
Given the unique cultural, economic, and social contexts of Indigenous communities, the program's flexibility and tailored support are instrumental in achieving meaningful outcomes. By providing the necessary resources and support, the AEP ensures that Indigenous businesses are not only viable but also competitive and sustainable in the long term. The program's strategic investment in Indigenous entrepreneurship fosters a resilient business ecosystem that can adapt to changing market dynamics and contribute to the overall prosperity of Indigenous communities in Canada.
In conclusion, the Aboriginal Entrepreneurship Program: Access to Capital stream is a vital initiative that plays a significant role in strengthening Indigenous entrepreneurship. By enhancing access to financial resources and providing crucial business support, the program addresses economic disparities, supports community development, and fosters a spirit of entrepreneurship that is integral to the socioeconomic advancement of Indigenous Peoples across Canada. This empowerment not only benefits the Indigenous communities but also enhances the cultural and economic diversity within the Canadian economy.
