Community Futures Treaty Seven — Lending Services
AB, Canada
Business loans for Treaty Seven Members (Alberta)
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
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grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Community Futures Treaty Seven
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grant_card_status|open
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Loans of up to $25,000 to start or grow a business with a viable business plan.
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The eligible geographical areas are determined by the location of the business in relation to Treaty Seven members' residency. This ensures that businesses seeking loans are contributing to community economic development in designated areas.
- Businesses located on and off reserve in areas associated with Treaty Seven members.
grant_single|admissibleProjectsExample
$25,000
Create an eco-friendly clothing line focusing on sustainable materials
$25,000
Launch a coffee shop offering ethically sourced, single-origin coffees
$25,000
Initiate a recycling and waste management program for better environmental practices
$25,000
Expand a digital literacy program for senior citizens
$25,000
Develop a mobile app to streamline healthcare services
$25,000
Establish a local farmers' market to support organic farming
grant_single_labels|admissibility
Eligibility for the Western Economic Diversification General Loan Fund is determined by several specific criteria that applicants must meet.
- The business must be at least 51% owned by Treaty Seven Members.
- The maximum loan that can be provided is $25,000.00 per business.
- Applicants must provide equity of 10% or proof of sweat equity.
- Agriculture loans for ranching and farming are not eligible.
- The business can be located on or off reserve.
- All loans require community support through a Band Council Resolution for businesses on reserve.
- The business plan must be viable and demonstrate capacity to generate sufficient revenue for loan repayment.
- The business must have a mandate to increase long-term, full-time employment for Treaty Seven Members.
- Applicants must provide proof of decline from a traditional financial institution.
- All necessary documents must be submitted for the loan application process.
grant_eligibility_criteria|who_cannot_apply
This grant program has specific restrictions for ineligible businesses and industries. The ineligibility is primarily focused on ensuring alignment with community and economic objectives.
- Agriculture loans, specifically in ranching and farming, are not eligible.
grant_eligibility_criteria|eligible_expenses
This loan fund targets the development and expansion of businesses that are owned by Treaty Seven Members, with an emphasis on fostering long-term employment opportunities for those members. Eligible activities focus on various business projects except for agriculture-related ones.
- Establishment of new businesses owned by at least 51% Treaty Seven Members.
- Expansion projects for existing businesses owned by Treaty Seven Members.
- Business projects that can demonstrate community support and potential for long-term employment creation.
grant_eligibility_criteria|zone
The loan fund focuses on eligible expenses aimed at fostering business establishment or expansion under specific conditions.
- Expenses related to establishing a new business or expanding an existing one, provided the business is at least 51% owned by Treaty Seven Members.
- Equity contributions or demonstration of sweat equity, which are necessary to secure the loan.
- Costs associated with developing a viable business plan to ensure long-term, full-time employment for Treaty Seven Members.
- Administrative costs related to attaining community support through a Band Council Resolution for businesses located on reserve.
grant_single_labels|register
Here are the steps to submit an application for the Western Economic Diversification Loan Fund:
- Step 1: Initial Eligibility Check
- Ensure that your business is at least 51% owned by Treaty Seven Members.
- Confirm the business is not an agricultural venture related to ranching or farming.
- Ensure the business is located on or off reserve, meeting the requirement for community support.
- Step 2: Document Preparation
- Prepare a viable business plan showing potential for revenue generation to repay the loan.
- Gather proof of decline from a traditional financial institution.
- Compile evidence of equity or sweat equity totaling at least 10% of the loan amount.
- Obtain a Band Council Resolution if the business is located on reserve.
- Step 3: Contact Business Analyst
- Reach out to the Business Analyst using the contact details provided (403.251.9242 for Branch Office or 403.238.2062 for Head Office).
- Submit all necessary documents to the Business Analyst for review.
- Step 4: Loan Application and Review
- The Business Analyst will complete the loan application upon receipt of all documents.
- Undergo a review process for viability, which includes credit checks and a ratio analysis.
- Step 5: Approval Process
- The Business Analyst will make recommendations to the Investment Review Committee and Board for approval.
- Await decision notification from the Committee.
grant_single_labels|contact
403-251-9242
Apply to this program
Empowering Treaty Seven Members Through Business Loans
This funding opportunity supports Treaty Seven members seeking to establish or expand their businesses, emphasizing long-term employment and economic growth. With loans up to $25,000, this program fosters entrepreneurial ventures both on and off reserves.
Detailed Overview of the Loan Program for Treaty Seven Members
The Western Economic Diversification's General Loan Fund is a strategic initiative aimed at empowering Treaty Seven members by facilitating business growth and expansion through accessible financial solutions. With the goal of increasing long-term, full-time employment, this program provides loans to businesses that are at least 51% owned by Treaty Seven members. The emphasis is on supporting viable business plans capable of generating sufficient revenue for loan repayment, thereby fostering economic self-sufficiency within First Nations communities.
Operating under the mandate to enhance community economic development, the program ensures that all loan applications are meticulously reviewed for business viability. This involves a thorough analysis of the financial aspects of the business, including credit checks, ratio analysis, and recommendations made by a business analyst, followed by an evaluation by the Investment Review Committee and Board. This rigorous process ensures only the most promising and sustainable business plans receive the necessary financial backing.
Eligible businesses can receive up to $25,000, provided they present a workable business plan reflecting the potential for success and job creation. To safeguard the community’s interest and involvement, businesses located on reserves must also demonstrate community support through a Band Council Resolution, underscoring the commitment to communal growth and prosperity. Importantly, the program excludes sectors like agriculture (specifically ranching and farming) but welcomes ventures from a diverse range of other industries.
Applicants must also prove their need for this loan by showing a prior decline for traditional financing options, ensuring that the funds reach entrepreneurs who might otherwise face significant barriers to starting or expanding their business. A key feature of the loan structure is the requirement for at least 10% equity—either through cash or sweat equity—demonstrating the applicant's commitment and investment in their entrepreneurial venture.
The program's administration is handled through offices located in Calgary and Tsuu T'ina, providing regional access to support and resources necessary for the application process. This setup not only facilitates access to funds but also promotes a continuous dialogue with financial advisors, ensuring that businesses are well-equipped to manage and make the most of the financial assistance they receive.
Furthermore, the broader aim of the loan program is to support Treaty Seven members in tapping into their entrepreneurial potential, thereby contributing to robust community development and increased employment opportunities. Such initiatives are pivotal in reducing unemployment rates and fostering a vibrant business ecosystem within First Nations territories.
In summary, this loan program is more than just a financing option; it is a pivotal component of a more extensive effort to support First Nations economic independence and growth. It offers Treaty Seven members the tools needed to create sustainable and impactful businesses, ultimately driving economic transformation and resilience in their communities.
