Alberta Indian Investment Corporation
AB, Canada
Loans for Alberta First Nations entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateJuly 09, 2024
- grant_single|closingDateJuly 09, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Finance and insurance
grant_single|grantors
- Alberta Indian Investment Corporation (AIIC)
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Get a repayable loan for a period of up to 5 years to help you start, buy, expand or diversify a business. You must contribute some of your own equity to finance the business, and in some cases, some outside equity financing may be available.
grant_single_labels|projects
AIIC offers financial assistance specifically tailored for First Nation entrepreneurs in Alberta, aimed at supporting business growth and development. Eligible activities under their services include various forms of business-focused loans and financial assistance.
- Loans to on and off-reserve businesses
- Equipment loans
- Loans to set up a new business
- Loans to expand business
- Loans for working capital
- Equity Financing
- Life insured loans
grant_single|admissibleProjectsExample
$50,000
Toronto
Expanding an artisanal cheese production business
$40,000
Ottawa
Diversifying business operations in a sustainable fashion brand
$35,000
Montreal
Acquiring a local bookstore to diversify product offerings
$35,000
Halifax
Providing working capital for a social enterprise's expansion
$60,000
Vancouver
Establishing a new eco-friendly bakery with artisan products
$70,000
Calgary
Purchasing new equipment for a tech startup
grant_single_labels|admissibility
To be eligible for AIIC services, applicants must meet the following criteria:
- Must be a Status Indian who has resided in Alberta for at least one year;
- If a corporation or partnership, the Status Indian must own at least 51% of any shares, participate more than 51% in profits, and above all, must be active in managing the business;
- The applicant’s head office must be in Alberta.
grant_eligibility_criteria|who_can_apply
The AIIC provides financial assistance to businesses owned by Status Indians in Alberta for various purposes, excluding certain types of ventures. Eligible industries include those seeking to establish, acquire, diversify, or expand their business operations.
- On and off-reserve businesses.
- Businesses in need of equipment financing.
- Start-ups and business expansions.
- Businesses seeking working capital.
- Companies eligible for equity financing.
grant_eligibility_criteria|who_cannot_apply
The AIIC grant has specific restrictions which make certain types of companies or industries ineligible for financing services. These restrictions relate to the company's status and main activities.
- Personal, housing or consumer loans
- Farming, ranching or other agricultural ventures
- Feasibility studies
- Investment properties
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant may include equipment loans, working capital, setting up a new business, expanding an existing business, and equity financing.
- Equipment loans
- Working capital
- Setting up a new business
- Expanding business
- Equity Financing
grant_eligibility_criteria|zone
Companies eligible for this grant must have their head office in Alberta and be operated by a Status Indian residing in Alberta. The requirement ensures local economic engagement and participation in the region.
- Alberta, Canada
grant_single_labels|criteria
The grant has specific evaluation and selection criteria that applicants must meet to be eligible for financial assistance:
- Applicants must have a profitable business plan.
- Applicants must contribute their own equity towards the financing.
- Applicants must provide adequate collateral security.
- Applicants must have an acceptable credit rating.
grant_single_labels|register
- Step 1: Prepare a business plan
- Must demonstrate the profitability of the business
- Step 2: Contribute equity to the total financing
- Ownership of at least 51% for corporations or partnerships
- Step 3: Arrange for adequate collateral security
- Step 4: Ensure an acceptable credit rating
Apply to this program
AIIC Financial Assistance for First Nation Entrepreneurs in Alberta
The Alberta Indian Investment Corporation (AIIC) offers financial assistance to First Nation entrepreneurs in Alberta, providing interest-bearing loans and, in some cases, equity financing to support the establishment, acquisition, diversification, or expansion of businesses. The loan terms are competitive, with flexible repayment options designed to help entrepreneurs succeed.
Comprehensive Financial Support for First Nation Entrepreneurs through AIIC
The Alberta Indian Investment Corporation (AIIC) plays a crucial role in supporting First Nation entrepreneurs within Alberta by providing strategic financial assistance tailored to the unique needs of Indigenous business owners. AIIC's initiatives are focused on empowering First Nation individuals who aspire to establish, acquire, diversify, or expand their businesses. These programs not only help close the economic gap faced by First Nation communities but also promote broader economic development across the province. One of AIIC's primary offerings is interest-bearing loans designed with competitive rates and adaptable terms to ensure accessibility and sustainability. Loans are generally available for terms of up to five years, reflecting a commitment to supporting long-term business growth and stability. The loan packages provided by AIIC cover various aspects of business development, including equipment loans, working capital loans, and funding for both new business setups and ongoing business expansions. This variety ensures that entrepreneurs at all stages can find the appropriate financial backing needed to achieve their business objectives. In addition to conventional loans, AIIC offers equity financing, providing further financial flexibility. For businesses looking to secure additional investment while retaining the interest in a growing venture, equity financing serves as an ideal resource. Moreover, AIIC life-insured loans deliver added security, ensuring entrepreneurs and their families have peace of mind. The eligibility criteria established by AIIC ensure that the services target those in genuine need while maximizing the impact on the local economy. Qualified applicants share a common feature of demonstrating profitability through a comprehensive business plan, contributing personal equity, and maintaining an acceptable credit rating. Further, the requirements ensure that the business is majority-owned and actively managed by a Status Indian resident of Alberta, anchoring economic benefits within the community. AIIC's loan programs are especially beneficial for business structures such as corporations and partnerships, provided they meet the ownership and management criteria. While the organization offers substantial support, it clearly outlines exclusions to maintain focus on sustainable and impactful business ventures. Such exclusions typically consist of personal, housing or consumer loans, agricultural ventures, and investment properties, allowing AIIC to concentrate resources where they can drive significant entrepreneurial progress. Overall, AIIC's initiatives serve as an indispensable resource for First Nation entrepreneurs in Alberta, contributing significantly to economic growth, empowerment, and the fostering of innovation within Indigenous communities. These comprehensive financial services not only provide immediate support but also lay the groundwork for sustained economic prosperity and inclusion in the competitive business landscape. By continuing to support Indigenous businesses, AIIC helps create a dynamic and diverse economy in Alberta where opportunity thrives for all.