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