BDC Financing — Indigenous Entrepreneur Loan
Canada
Loan for Indigenous entrepreneurs
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- grant_single|timelineUnspecified
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Loans and Capital investments
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- Business Development Bank of Canada (BDC)
- Government of Canada
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Get access to financing of up to $350,000 and help connecting with experts to grow or scale your business.
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The Indigenous Entrepreneur Loan by BDC provides a supportive financial framework aimed at facilitating business growth and sustainability for Indigenous entrepreneurs. This loan is structured with several accommodating features to help bolster entrepreneurial ventures.
- Financing of up to $350,000 to help grow or scale the business.
- Flexible repayment terms designed to protect cash flow.
- Preferred interest rates with no processing or annual administration fees.
- A portion of the interest paid on the loan is donated back to a registered charity of the borrower's choice.
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The Indigenous Entrepreneur Loan is designed to support Indigenous business growth and development in Canada. The loan includes flexible financial solutions tailored to the needs of Indigenous entrepreneurs to ensure effective scaling and business expansion.
- Financing to grow or scale a business up to $350,000.
- Part of the interest paid on the loan can be donated to a registered charity of your choice.
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$ 200,000
Investing in technology for a small boutique hotel to enhance guest experience
$ 200,000
Expanding the product line of an Indigenous-owned organic skincare company
$ 150,000
Improving operational efficiency in a NPO-run community kitchen
$ 220,000
Developing a new software platform for small businesses to manage their finances
$ 160,000
Developing a craft brewery's new range of seasonal beers
$ 170,000
Improving operational efficiency in a community-based recycling program
grant_single_labels|admissibility
Eligibility for the Indigenous Entrepreneur Loan from BDC is primarily focused on helping Indigenous entrepreneurs grow or scale their businesses.
- The applicant must be an Indigenous entrepreneur.
- The business must be looking for financing of up to $350,000 to grow or scale operations.
grant_eligibility_criteria|who_can_apply
Indigenous entrepreneurs looking to grow or scale their business can apply for the BDC Indigenous Entrepreneur Loan, which offers financing of up to $350,000 with flexible repayment terms, preferred rates, and no processing or annual administration fees. Additionally, part of the interest paid on the loan can be donated to a registered charity of the borrower's choice. Applicants can also connect with partners such as NACCA, CCAB, Pow Wow Pitch, and Futurpreneur for additional support and resources.
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The BDC grant aims to empower Indigenous entrepreneurs by providing financing, resources, and connections that bolster business growth and success. Eligible activities focus on expanding business operations, enhancing financial management skills, and fostering partnerships for sustainable development.
- Access to flexible loans for business growth and scaling up operations.
- Utilization of financial resources to protect cash flow with preferred rates.
- Engagement with partners such as NACCA for additional advice and financing solutions.
- Membership with CCAB to increase procurement opportunities as a certified diverse supplier.
- Participation in educational and mentoring programs through initiatives like Pow Wow Pitch.
- Enrollment in financial management courses to improve business finance handling.
- Collaboration with Futurpreneur for financing solutions to start a business for young entrepreneurs (aged 18-39).
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This grant does not specify any geographical restrictions within Canada, allowing Indigenous entrepreneurs from various regions to apply. The focus is on supporting Indigenous businesses nationally, aligning with BDC's commitment to Indigenous entrepreneurship across Canada.
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The Indigenous Entrepreneur Loan offered by BDC has specific evaluation and selection criteria for applicants:
- Demonstrated Indigenous ancestry or ownership
- Viability and potential for business growth
- Ability to repay the loan
- Impact on community and Indigenous entrepreneurship
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Here are the steps to submit an application for the Indigenous Entrepreneur Loan at BDC:
- Step 1: Determine Eligibility
- Review the eligibility criteria for the Indigenous Entrepreneur Loan on the BDC website.
- Ensure your business plan aligns with the loan's objectives.
- Step 2: Gather Required Documentation
- Collect financial statements, business plans, and any other necessary business documentation.
- Prepare personal identification and proof of Indigenous ancestry if required.
- Step 3: Connect with a Local Aboriginal Financial Institution (AFI)
- Contact your local AFI for advice and potential assistance with the application process.
- Discuss your business needs and how the loan can support your growth plans.
- Step 4: Complete the Application Form
- Visit the BDC website's loan section for Indigenous entrepreneurs.
- Fill out the application form with the necessary business and personal details.
- Step 5: Submit the Application
- Submit all documents along with the completed application form as instructed on the BDC website or through a BDC representative.
- Keep a copy of all submitted materials for your records.
- Step 6: Await Confirmation
- Wait for a confirmation from BDC that your application has been received and is under review.
- Prepare to respond to any follow-up queries from BDC representatives.
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Here are additional relevant details for BDC's Indigenous Entrepreneur Loan:
- A portion of the interest paid on the loan can be directed to a registered charity of your choice, allowing you to support community initiatives.
- BDC has a longstanding partnership with organizations such as NACCA, CCAB, and Futurpreneur to provide comprehensive support beyond financial loans.
- BDC's head office is located on unceded Indigenous lands, underlining their commitment to reconciliation and respect for Indigenous communities.
- The loan includes flexible repayment terms designed specifically to help protect your business's cash flow.
Apply to this program
Indigenous Entrepreneur Loan: Empowering Business Growth
The Indigenous Entrepreneur Loan is a collaborative initiative by BDC designed to support Indigenous business owners with financing solutions up to $350,000. It offers flexible repayment terms, competitive interest rates, and the unique feature of contributing part interest back to charities, thereby fostering community engagement and empowerment.
Unlock Business Expansion with the Indigenous Entrepreneur Loan
The Indigenous Entrepreneur Loan by the Business Development Bank of Canada (BDC) is a targeted financial product specifically crafted to empower Indigenous entrepreneurs across Canada. As part of its commitment to fostering economic inclusion and reconciliation, BDC provides this loan as a means to support growth, scale operations, and ensure businesses owned by Indigenous entrepreneurs thrive in today’s competitive landscape.
Indigenous entrepreneurs seeking to expand their business horizons can benefit greatly from this loan, which provides up to $350,000 in funding. The loan is versatile, allowing entrepreneurs to use the funds for a myriad of business needs, such as expanding their workforce, purchasing new equipment, or entering new markets. This kind of financial support is crucial for fostering sustainability and development within Indigenous communities.
What sets the Indigenous Entrepreneur Loan apart are its borrower-friendly terms. The loan offers flexible repayment schedules tailored to the cash flow of the business, ensuring that businesses can manage their finances without the burden of stringent repayment deadlines. Moreover, the loan is provided at preferred rates, making it a cost-effective financial tool compared to traditional loan products. Importantly, there are no processing or annual administration fees, reducing the financial barriers that often deter entrepreneurs from accessing vital capital.
A noteworthy feature of this loan is its community focus—BDC commits to giving back part of the interest collected to a registered charity chosen by the borrower. This unique feature not only aids the borrower in business growth but also ensures that their community can benefit economically, creating a cycle of prosperity and reinforcing the entrepreneur's connection to their community.
Beyond financing, BDC supports Indigenous entrepreneurs through various partnerships with organizations like the National Aboriginal Capital Corporations Association (NACCA) and the Canadian Council for Aboriginal Businesses (CCAB). These partnerships offer avenues for business advice, access to additional funding such as the $150M Indigenous Growth Fund, certification opportunities for increasing procurement visibility, and educational resources that strengthen entrepreneurial expertise and business acumen.
Moreover, BDC is committed to listening and making internal changes to better serve Indigenous entrepreneurs. This includes more inclusive hiring practices and an Indigenous employee resource group, which aims to ensure that BDC reflects the diversity of the communities it serves and benefits from their unique perspectives and experiences.
For Indigenous business owners seeking not just capital, but a meaningful partner in growth, the Indigenous Entrepreneur Loan from BDC offers a comprehensive package. It combines financial support with community investment, access to a network of resources and partners, and a commitment to the broader goals of reconciliation and economic empowerment for Indigenous communities. This blend of options makes the Indigenous Entrepreneur Loan a cornerstone of business development for Indigenous entrepreneurs looking to make a significant impact.
