How much funding can be received?

<p>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.</p>

grant_single_labels|terms_and_conditions

The Alberta Indian Investment Corporation provides tailored financial services to support First Nation entrepreneurs in establishing and growing their businesses. The financing modalities offer a variety of loan and equity options with competitive terms.

Interest-bearing loans for the establishment, acquisition, diversification, or expansion of a business.
Equity financing options available in addition to loans.
Loans available for both on and off-reserve businesses.
Specific loans offered for equipment, setting up new businesses, business expansion, and working capital needs.
Life insured loans to provide additional financial security.
Choice between fixed or floating interest rates, providing flexibility in financial planning.
Flexible repayment terms tailored to the business’s cash flow capabilities.
Highly competitive interest rates and terms.

grant_single_labels|projects

The Alberta Indian Investment Corporation provides financial services specifically intended to aid First Nation entrepreneurs in establishing and growing their businesses. The eligible activities focus on business setup, expansion, and managing equipment or working capital needs.

Loans to on and off-reserve businesses.
Equipment loans.
Loans to set up a new business.
Loans to expand an existing business.
Loans for working capital.
Equity Financing.
Life insured loans.

grant_single|admissibleProjectsExample

$ 50,000

Expanding an artisanal cheese production business

$ 40,000

Diversifying business operations in a sustainable fashion brand

$ 35,000

Acquiring a local bookstore to diversify product offerings

$ 60,000

Establishing a new eco-friendly bakery with artisan products

$ 35,000

Providing working capital for a social enterprise's expansion

$ 70,000

Purchasing new equipment for a tech startup

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's status, location, and business structure.

The applicant must be a Status Indian who has resided in Alberta for at least one year.
If the applicant is a corporation or partnership, the Status Indian must own at least 51% of any shares, participate more than 51% in profits, and be actively involved in managing the business.
The applicant’s head office must be located in Alberta.

grant_eligibility_criteria|who_can_apply

p>AIIC provides financial assistance through loans to businesses owned by Status Indians in Alberta, focusing on those looking to establish, acquire, diversify, or expand a business. To be eligible for these financial services, applicants must meet specific criteria, including residency requirements, equity participation, and management involvement.

Status Indians who have resided in Alberta for at least one year.
Businesses where the Status Indian owns at least 51% of shares and profits and is actively managing the business.
Head office must be located in Alberta.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain types of businesses and industries from receiving financial assistance. The restrictions focus on ensuring that the grant supports businesses aligned with specific economic activities and excludes personal or speculative investments.

Personal loans, housing loans, or consumer loans.
Agricultural ventures, including farming and ranching.
Feasibility studies for projects without immediate implementation.
Investment properties, which are intended primarily for passive income or speculation.

grant_eligibility_criteria|eligible_expenses

AIIC provides financial assistance through loans and equity financing to First Nation entrepreneurs in Alberta. These funds are aimed at supporting the establishment, acquisition, diversification, or expansion of businesses.

Loans to establish a new business.
Loans to expand an existing business.
Equipment loans for business needs.
Provision of working capital through loans.
Availability of equity financing options.
Life insured loans to secure business financing.

grant_eligibility_criteria|zone

This grant is specifically available to First Nation entrepreneurs whose businesses are based in Alberta. The geographical eligibility is focused on ensuring support for Status Indians who have lived in Alberta.

Businesses with a head office located in Alberta.

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: Confirm Eligibility
- Ensure you are a Status Indian residing in Alberta for at least one year.
- If applying as a corporation or partnership, confirm a Status Indian controls at least 51% of shares and profits.
- Make sure the business's head office is located in Alberta.
Step 2: Develop a Business Plan
- Create a detailed business plan showing potential profitability.
- Establish a financial plan including your equity contribution and required collateral security.
- Obtain an acceptable credit rating.
Step 3: Contact AIIC
- Reach out to AIIC for initial consultation and guidance on application process.
- Gather and understand the necessary documents and requirements for application submission.
Step 4: Prepare Application Documents
- Compile necessary documents including your business plan, proof of equity, collateral security, and credit history.
- Ensure all required information adheres to AIIC guidelines.
Step 5: Submit Application
- Submit your application form along with all supporting documents to AIIC.
- Ensure accurate contact information is provided for follow-up.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

AIIC provides loans with flexible repayment terms to cater to the borrower's financial capabilities.
Loan terms from AIIC can go up to a maximum of 5 years.
Interest rates for AIIC loans are competitive, meaning they are in line with or better than market averages.
The granted loans are life insured, potentially offering additional security for borrowers.
Loan options include either fixed or floating interest rates, allowing for flexibility in financial planning.