SOCCA – Support and coaching
Canada
Advice and coaching for First Nations-owned businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateMay 07, 2021
grant_single|financingType
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Native Commercial Credit Corporation
grant_single|status
grant_card_status|open
grant_single_labels|preview
If you’re an Indigenous business owner, you can access loans, consulting services, and help with developing a project through the Native Commercial Credit Corporation.
grant_single_labels|projects
SOCAX is an institution that provides financial assistance to organizations operating within First Nations communities. The eligible geographical areas are targeted to support Indigenous entrepreneurs specifically.
- Companies located within the Abenaki community.
- Organizations based in the Algonquin region.
- Businesses operating in the Atikamekw area.
- Firms situated in Huron-Wendat territory.
- Enterprises within the Malecite region.
- Entities in the Micmac community.
- Members of the Native Alliance of Quebec.
grant_single|admissibleProjectsExample
$30,000
Toronto
Opening a community coffee shop offering fair-trade Indigenous coffee
$20,000
Ottawa
Launching a consultancy to support Indigenous entrepreneurs
$75,000
Montreal
Establishing an Indigenous cultural heritage center
$25,000
Vancouver
Expanding an Indigenous handicraft business online
$40,000
Edmonton
Setting up an Indigenous art gallery space
$60,000
Calgary
Developing a mobile app for Indigenous language learning
grant_single_labels|admissibility
This grant is specifically designed for certain First Nations communities and organizations.
- Eligible applicants must belong to one of the following First Nations: Abenaki, Algonquin, Atikamekw, Huron-Wendat, Malecite, or Micmac.
- Organizations must be affiliated with the Native Alliance of Quebec to be eligible.
grant_eligibility_criteria|who_can_apply
SOCCA provides financial support and coaching specifically tailored for Aboriginal businesses. The eligible clientele for their grant programs includes Aboriginal entrepreneurs from specific First Nations communities and members of the Native Alliance of Quebec. Eligible communities are:- Abenaki- Algonquin- Atikamekw- Huron-Wendat- Malecite- MicmacAdditionally, applicants should be involved in developing or expanding business projects within these First Nations communities to qualify for SOCCA's support and services.
grant_eligibility_criteria|eligible_expenses
SOCCA provides financial and coaching support for business projects within the First Nations community. The eligible activities revolve around starting, acquiring, or expanding Aboriginal businesses through various financial products and consultancy services.
- Providing non-refundable contributions to Aboriginal business initiatives.
- Offering term loans to support start-ups, acquisitions, or expansions.
- Business project consultancy and development planning services.
- Participation in the financing package formulation for business projects.
- Continuous business monitoring and support services.
grant_eligibility_criteria|zone
There are specific eligible First Nations listed for this grant. The eligible First Nations include:
- Abenaki
- Algonquin
- Atikamekw
- Huron-Wendat
- Malecite
- Micmac
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria include:
- Project feasibility
- Ability to repay financing
- Alignment with SOCCA's mandate
- Client's business experience and skills
- Positive impact on the community
- Support from other financial partners
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Initial Inquiry and Consultation
- Reach out to SOCCA via phone at 1 800 241-0972 or email at administration@socca.qc.ca to express interest and discuss your project.
- Schedule a consultation meeting with a SOCCA advisor for personalized advice and guidance.
- Step 2: Documentation and Preparation
- Gather necessary documentation related to your business and project proposal.
- Ensure that your business aligns with the eligibility requirements for First Nations businesses.
- Step 3: Application Form Submission
- Complete the application form provided by SOCCA.
- Prepare a comprehensive business plan outlining your project details, financing requirements, and expected outcomes.
- Submit the application along with supporting documents to SOCCA either online or by mail to their Wendake office.
- Step 4: Submission Confirmation
- Receive confirmation of application receipt from SOCCA.
- Keep track of any follow-up communication or requests for additional information.
grant_single_labels|otherInfo
SOCCA provides financing products and services specifically for First Nations and the Native Alliance of Quebec. Eligible types of companies include:
- Abenaki
- Algonquin
- Atikamekw
- Huron-Wendat
- Malecite
- Micmac
There are eligible expenses for this grant. Eligible expenses include:
- Development of the project
- Participation in the financing package of your project
- Business monitoring
SOCCA offers financing products and services in the form of non-refundable contributions, term loans, and coaching to start, acquire, or expand Aboriginal businesses.
- Support in the development of the project
- Participation in the financing package of your project
- Business monitoring
There are specific eligible First Nations listed for this grant. The eligible First Nations include:
- Abenaki
- Algonquin
- Atikamekw
- Huron-Wendat
- Malecite
- Micmac
There are evaluation and selection criteria for this grant. The criteria include:
- Project feasibility
- Ability to repay financing
- Alignment with SOCCA's mandate
- Client's business experience and skills
- Positive impact on the community
- Support from other financial partners
- Step 1: Fill out the application form
- Step 2: Submit required supporting documentation
- Step 3: Review and approval process by the grant provider
- Step 4: Receive notification of grant approval or denial
- Step 5: Follow any additional instructions provided upon approval
Apply to this program
Empowering First Nations Business Ventures with SOCCA
The SOCCA grant is a dedicated financial support offering that aims to empower First Nations entrepreneurs by providing non-refundable contributions, term loans, and comprehensive coaching to start, acquire, or expand Aboriginal businesses. It stands as a specialized financial initiative tailored specifically to the unique needs of First Nations, fostering business development and economic growth.
Detailed Insights into SOCCA's Financial Support for First Nations
Established in 1992, SOCCA (Native Commercial Credit Corporation) has positioned itself as a robust partner for First Nations seeking to venture into the world of business. SOCCA's grant initiative is meticulously crafted to address the specific needs of First Nations by offering a range of financial products and services. These include non-refundable contributions, which serve as a vital source of capital that doesn't require repayment, thus reducing the financial burden on nascent enterprises.
Moreover, SOCCA provides term loans, structured to support various stages of a business's life cycle, whether it's in the starting phase, acquisition, or expansion mode. These loans are tailored to accommodate the unique market conditions and business practices of Indigenous entrepreneurs, ensuring that the financial solutions provided are both accessible and effective.
The support doesn't end at finances. SOCCA's coaching services offer crucial guidance that assists in navigating the complexities of business development. This coaching is part of a holistic approach that includes project development support, business monitoring, and participation in crafting a comprehensive financing package that aligns with the entrepreneur's aspirations and goals.
SOCCA’s offerings are specifically designed for First Nations communities, including Abenaki, Algonquin, Atikamekw, Huron-Wendat, Malecite, and Micmac, among others affiliated with the Native Alliance of Quebec. This focus ensures that the services provided are culturally resonant and community-driven, which is pivotal for fostering genuine growth and sustainability.
Operating out of Wendake, SOCCA is supported by a high-qualified, multidisciplinary team that leverages extensive expertise and stable foundations to deliver tailored financial and advisory services. This specialized institution not only provides essential resources but also acts as a gateway to a broader network of financial partners, enhancing the potential for success across numerous business projects.
By supporting First Nations businesses, SOCCA plays a critical role in building and sustaining economic independence within these communities. Their work is pivotal in breaking down barriers to entry and overcoming historical obstacles to economic participation, thereby promoting a more equitable and prosperous future.
Through innovative financial support mechanisms and steadfast guidance, SOCCA is more than just a lender—it is an enabler of dreams and a catalyst for economic empowerment. Its commitment to the First Nations business community is exemplified not only in its financial products but also in its dedication to nurturing entrepreneurial talent that is set to drive future growth and development.
