Aboriginal Entrepreneurship Program — Access to Capital
Canada
Financial support for Indigenous entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- National Aboriginal Capital Corporation Association (NACCA)
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|projects
The Aboriginal Entrepreneurship Program – Access to Capital stream provides funding for various projects and activities to support Indigenous entrepreneurs and business owners. Eligible projects include starting, expanding, or acquiring a business.
- Starting a business
- Expanding an existing business
- Acquiring a business
- Covering costs of borrowing for Indigenous Financial Institutions and Métis Capital Corporations
- Operational support for lenders to aid their lending activities
grant_single|admissibleProjectsExample
$70,000
Vancouver
Expansion of Indigenous-owned eco-tourism business
$80,000
Winnipeg
Launching a new Indigenous-owned organic farm
$60,000
Toronto
Developing a digital marketing platform to support local Indigenous artisans
$60,000
Ottawa
Creating an Indigenous entrepreneurship training program
$70,000
Montreal
Acquiring an Indigenous-owned retail store for community-made crafts
$50,000
Halifax
Starting an Indigenous health food store
grant_single_labels|admissibility
Les critères d'admissibilité pour cette subvention sont les suivants :
- les particuliers autochtones, y compris les entreprises détenues et contrôlées par les peuples autochtones;
- les associations et organismes autochtones, sauf ceux à vocation caritative ou religieuse.
grant_eligibility_criteria|who_can_apply
The Aboriginal Entrepreneurship Program (AEP) - Access to Capital stream is available to Indigenous individuals, including businesses owned and controlled by Indigenous Peoples, and Indigenous organizations and associations, excluding those with charitable or religious purposes.
- Indigenous individuals
- Businesses owned and controlled by Indigenous Peoples
- Indigenous organizations and associations
grant_eligibility_criteria|who_cannot_apply
Some types of companies that are not eligible for this grant include:
- Indigenous organizations and associations with charitable or religious purposes
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include:
- Start-up costs for a new business
- Expansion or acquisition expenses
- Borrowing and operational costs for lenders
- Business services to support business growth
- Costs related to demonstrated business need
grant_eligibility_criteria|zone
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
grant_single_labels|criteria
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
grant_single_labels|register
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- Étape 1
- Communiquer directement avec votre institution financière autochtone (IFA) ou Métis Capital Corporation (MCC) pour vérifier votre admissibilité et obtenir des informations détaillées sur le processus de demande.
- Étape 2
- Préparer les documents nécessaires pour la demande, tels que le plan d'affaires, les états financiers et toute autre documentation requise par l'IFA ou la MCC.
- Étape 3
- Remplir le formulaire de demande de financement fourni par l'IFA ou la MCC.
- Joindre tous les documents nécessaires à votre formulaire de demande.
- Étape 4
- Soumettre la demande complète à l'IFA ou la MCC pour examen.
- Étape 5
- Attendre la réponse de l'IFA ou la MCC. Ils peuvent également demander des informations supplémentaires ou des clarifications.
- Étape 6
- Si approuvé, suivre les instructions fournies par l'IFA ou la MCC pour accéder au financement et utiliser les fonds selon les termes convenus.
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grant_single_labels|otherInfo
This program supports Indigenous entrepreneurship by providing funding and resources through Indigenous Financial Institutions (IFIs) and Métis Capital Corporations (MCCs) in Canada, with the goal of increasing the number and success of Indigenous-owned businesses.
- The program includes a non-repayable equity contribution and business services for small and medium-sized businesses.
- Funding is available up to $99,999 for individual Indigenous entrepreneurs and up to $250,000 for Indigenous community businesses.
- Potential recipients must consult with local IFIs or MCCs to determine their eligibility.
- There is no application deadline.
- Administered by the National Aboriginal Capital Corporations Association (NACCA).
Apply to this program
Summary of the Aboriginal Entrepreneurship Program: Access to Capital
The Aboriginal Entrepreneurship Program: Access to Capital provides non-repayable equity contributions to Indigenous entrepreneurs and businesses to help them start, expand, or acquire a business. Administered by the National Aboriginal Capital Corporations Association, this program offers funding of up to $99,999 for individual entrepreneurs and up to $250,000 for community-owned businesses.
Detailed Explanation of the Aboriginal Entrepreneurship Program: Access to Capital
The Aboriginal Entrepreneurship Program: Access to Capital is a targeted initiative aimed at fostering and nurturing Indigenous-owned businesses across Canada. This program addresses the unique challenges faced by Indigenous entrepreneurs and business owners, providing essential financial resources to ensure their business ventures can thrive and succeed. Below is an in-depth overview of the program, its benefits, eligibility criteria, and application process.
Program Overview
The primary objective of the Aboriginal Entrepreneurship Program (AEP) is to promote entrepreneurship and increase the number of viable Indigenous-owned businesses in Canada. The program consists of two main streams: access to capital and business opportunities. The Access to Capital stream specifically aims to provide annual, ongoing funding to Indigenous entrepreneurs through a network of Indigenous Financial Institutions (IFIs) and Métis Capital Corporations (MCCs).
Through this stream, Indigenous small and medium-sized businesses receive non-repayable equity contributions and business services that support the initiation, expansion, and acquisition of businesses. In addition, the AEP provides financial resources to lenders to cover associated borrowing and operational costs, thus facilitating their lending activities. This initiative is implemented by the National Aboriginal Capital Corporations Association (NACCA) via IFIs and MCCs located throughout Canada.
Funding Details
The amount of funding available under the Access to Capital stream is determined based on factors such as the scope of the business proposal, demonstrated financial need, and the project's estimated budget. Individual Indigenous entrepreneurs may be eligible for up to $99,999 in financial assistance, while community-owned Indigenous businesses may qualify for up to $250,000.
Benefits of the Program
The Aboriginal Entrepreneurship Program: Access to Capital offers several advantages for Indigenous entrepreneurs and business owners:
- Non-repayable equity contributions: Financial support does not require repayment, easing the financial burden on entrepreneurs.
- Comprehensive business services: The program offers various business services, including consulting, mentorship, and capacity-building, to help entrepreneurs succeed.
- Support for diverse business activities: Whether starting, expanding, or acquiring a business, financial assistance is available to support a wide range of business goals.
- Enhanced access to capital: By providing funding to lenders, the program ensures that more Indigenous businesses have access to necessary financial resources.
Eligibility Criteria
To qualify for the Aboriginal Entrepreneurship Program: Access to Capital, applicants must be:
- Indigenous individuals: Including First Nations, Inuit, and Métis entrepreneurs.
- Indigenous-owned businesses: Businesses must be owned and controlled by Indigenous Peoples.
- Indigenous organizations and associations: While organizations and associations are eligible, those with charitable or religious purposes are excluded.
Eligibility requirements may differ between Indigenous Financial Institutions (IFIs) and Métis Capital Corporations (MCCs). Therefore, it is essential to consult with the local IFI or MCC to determine specific eligibility criteria.
Application Process
The Aboriginal Entrepreneurship Program: Access to Capital has a straightforward application process, with no fixed deadline for submitting applications. Interested applicants should follow these steps:
- Contact your local IFI or MCC: Begin by reaching out to the nearest Indigenous Financial Institution (IFI) or Métis Capital Corporation (MCC) to discuss your business proposal and verify eligibility criteria.
- Prepare your business proposal: Develop a comprehensive and well-structured business proposal that outlines your business goals, financial need, and estimated budget. This proposal will be the basis for determining the amount of funding assistance.
- Submit your application: Once your business proposal is ready, submit it to the local IFI or MCC along with any required documentation. The institution will review your application and provide feedback or additional information as needed.
- Receive funding and support: If your application is approved, you will receive the financial assistance and business services required to achieve your business objectives. The local IFI or MCC will continue to provide support and guidance throughout the process.
Contact Information
For any inquiries about the Aboriginal Entrepreneurship Program: Access to Capital or assistance with the application process, you can contact the National Aboriginal Capital Corporations Association (NACCA) or your local Métis Capital Corporation. Below are some of the organizations you can reach out to:
- 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
Achieving Economic Growth and Empowerment
The Aboriginal Entrepreneurship Program: Access to Capital is pivotal in driving economic growth and empowerment within Indigenous communities across Canada. By offering essential financial resources and support, the program encourages the establishment and expansion of Indigenous-owned businesses. This, in turn, leads to increased economic self-sufficiency, job creation, and prosperity within Indigenous communities.
The program recognizes the critical role that Indigenous entrepreneurs play in contributing to the overall economy and aims to eliminate the barriers they face in accessing capital and business opportunities. Through continued support and investment, the Aboriginal Entrepreneurship Program helps to create a sustainable and equitable economic landscape, empowering Indigenous entrepreneurs and fostering a thriving business ecosystem.
Conclusion
The Aboriginal Entrepreneurship Program: Access to Capital is a transformative initiative designed to support Indigenous entrepreneurs and businesses in Canada. By providing non-repayable equity contributions, comprehensive business services, and enhanced access to capital, the program paves the way for success and prosperity within Indigenous communities. Eligible applicants are encouraged to contact their local IFIs or MCCs to explore the opportunities available through this program and embark on their entrepreneurial journey.
