TACC Business Equity Program
BC, Canada
Funding for Indigenous entrepreneurs in Coast Salish
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Tale'awtxw Aboriginal Capital Corporation
grant_single|status
grant_card_status|open
grant_single_labels|preview
Contribution of up to $100,000 for individual business owners and $250,000 for community owned business.
grant_single_labels|projects
This grant is available to Aboriginal entrepreneurs operating within the Coast Salish territory. Eligibility is restricted to this geographical area to support local economic development and Indigenous business growth.
- Aboriginal entrepreneurs in the Coast Salish territory.
grant_single|admissibleProjectsExample
$200,000
Calgary
Acquiring a small bakery business with plans to expand
$210,000
Halifax
Developing an eco-tourism initiative focused on sustainable travel
$150,000
Ottawa
Starting a local art gallery to support emerging artists
$100,000
Vancouver
Establishing a new organic grocery store
$250,000
Toronto
Launching a tech start-up focused on fintech solutions
$180,000
Montreal
Expanding a textile recycling cooperative
grant_single_labels|admissibility
Eligibility for the Business Equity Program and NRT Equity Match Grant requires meeting specific criteria related to applicant type and business structure.
- The applicant must be an Aboriginal entrepreneur or a community-owned business in the Coast Salish territory.
- Applicants must be seeking to start, expand, or acquire a viable business.
- The business must have a viable business plan.
- Other financing must be in place as the funding is intended to supplement applicant equity and finance portions.
- For the NRT Equity Match Grant, the business must be a BC First Nation community-owned business or BC First Nation individual entrepreneur.
- The NRT Equity Match Grant must be applied for in conjunction with a TACC Loan.
grant_eligibility_criteria|who_can_apply
Aboriginal entrepreneurs in the Coast Salish territory who are involved in business opportunities that require supplementation of equity and finance portions, including individuals, incorporated businesses, and community-owned businesses.
grant_eligibility_criteria|eligible_expenses
The eligible projects for this grant focus on providing capital and business support to Aboriginal entrepreneurs and businesses in the Coast Salish territory. These efforts aim to facilitate the start-up, expansion, or acquisition of viable businesses, alongside offering marketing and business planning assistance.
- Start-up funding for new Aboriginal-owned businesses.
- Funding for expansion activities of existing Aboriginal-owned businesses.
- Support for the acquisition of existing businesses by Aboriginal entrepreneurs.
- Development and enhancement of business plans.
- Implementation of marketing strategies and related business support services.
grant_eligibility_criteria|zone
The Business Equity Program covers expenses related to capital and business support necessary for starting, expanding, or acquiring a business.
- Capital expenses necessary for business operations.
- Business plans development costs.
- Marketing and related business support services.
grant_single_labels|criteria
Evaluation and selection criteria for this grant are as follows:
- Applicant must be an Aboriginal entrepreneur in the Coast Salish territory.
- Business plan must be viable and demonstrate the need for funding.
- Applicant must have other financing in place.
- For the NRT Equity Match Grant, applicant must be a BC First Nation community-owned business or BC First Nation individual entrepreneur.
grant_single_labels|register
- Step 1: Review Eligibility and Program Details
- Ensure that your business fits within the eligibility criteria for the Business Equity Program (BEP).
- Read through the program description and FAQs provided by TACC to understand requirements.
- Step 2: Gather Required Documents
- Prepare a viable business plan outlining your business strategy and financial projections.
- Prepare documentation demonstrating other sources of financing in conjunction with TACC funding.
- Step 3: Download and Complete Application Forms
- Download the necessary application forms from the TACC website, including BEP F008 Detailed Eligible Costs and BEP F009 Claim Summary Form.
- Fill out the downloadable forms accurately with all necessary details.
- Step 4: Apply for the NRT Equity Match Grant (if applicable)
- If seeking the NRT Equity Match Grant, ensure you are applying for a TACC Loan in conjunction.
- Review the TACC Community Equity Match Initiative and Entrepreneur Equity Match Initiative for additional criteria.
- Step 5: Submit the Application
- Compile all completed forms and necessary documentation.
- Email or physically submit the application materials as instructed in the program details.
- Double-check submission instructions to ensure all requirements are met.
- Step 6: Confirmation and Follow-Up
- Wait for a confirmation of receipt from TACC, which should include an application reference number.
- Follow up if you do not receive confirmation within the specified time period.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The BEP non-repayable contribution requires a viable business plan and other financing to be in place at the time of application.
- The maximum contribution amount varies between individual or incorporated businesses and community-owned businesses, highlighting the importance of the business structure in determining the eligible grant amount.
- Application forms are required to be submitted in specified formats: Microsoft Word for print and Adobe Acrobat for fillable submissions.
- Both BEP and NRT grant applicants must consider these as supplementary funding options since they operate in conjunction with applicant equity and finance portions.
Apply to this program
Funding Opportunities for Aboriginal Entrepreneurs in Coast Salish Territory
The Business Equity Program (BEP) and NRT Equity Match Grant, administered by TACC, offer financial support to Aboriginal clients aiming to start, expand, or acquire businesses. These initiatives aim to empower Aboriginal entrepreneurs by supplementing existing finances to support their business ventures.
Understanding the Business Equity Program and NRT Equity Match Grant
The Tale’awtxw Aboriginal Capital Corporation (TACC) stands at the forefront of bolstering economic development within the Coast Salish territory through its comprehensive funding programs tailored for Aboriginal entrepreneurs. These initiatives, specifically the Business Equity Program (BEP) and the NRT Equity Match Grant, are meticulously designed to integrate seamlessly with existing financial arrangements, ensuring that entrepreneurs have the supplementary financial support necessary for fostering business success.
The Business Equity Program (BEP) is an evolved initiative aimed at providing non-repayable contributions to Aboriginal individuals and community-owned businesses. This forward-thinking program allows for the allocation of up to $99,999 for individuals and incorporated businesses, and up to a significant $250,000 for community-owned enterprises. However, these funds are contingent upon the presentation of a viable business plan and the existence of other financial arrangements, ensuring that the funding acts as a complement rather than a sole financier. The BEP focuses predominantly on enabling the purchase of eligible capital, business expansions, acquisitions, and support services such as business plans and marketing. This holistic approach aids applicants in addressing various dimensions of business establishment and growth, enhancing potential for sustainable development in these communities.
In parallel, the NRT Equity Match Grant serves as a potent financial booster, available exclusively to BC First Nation individual entrepreneurs and community-owned businesses. Central to its utilization is the requirement for it to be paired with a TACC Loan, ensuring that the recipients are effectively equipped with both grant funds and loan facilities to optimize their business strategies and execution. This dual-resource strategy enables recipients to balance their capital stack, making financial management more robust.
Moreover, these programs are not just about providing funds; they embody a broader vision of reinforcing Aboriginal entrepreneurship, thereby invigorating indigenous economies within the Coast Salish territory. By offering these financial services, TACC actively encourages business initiatives that resonate with the traditional values and contemporary aspirations of the communities it serves. This dual focus on tradition and innovation empowers local entrepreneurs to create value not only economically but also culturally.
Prospective applicants are encouraged to prepare substantive business plans that adequately demonstrate financial viability and strategic foresight. Highlighting detailed projections and market analysis will be critical, as TACC's aim is to support enterprises that promise sustainable impact and growth. Additionally, recipients of these funds are often integrated into a larger network of resources offered by TACC, which may include mentorship opportunities, business training, and stress-tested strategies for navigating the competitive business landscape.
Ultimately, the BEP and NRT Equity Match Grant reflect a commitment to nurturing Aboriginal business potential by ensuring entrepreneurs can access structured support. The emphasis on a mix of grant and loan funding not only spreads financial risk but also empowers recipients to make strategic business decisions that align with their growth ambitions. For entrepreneurs within the Coast Salish territory, TACC's initiatives represent a meaningful opportunity to craft resilient business models that honor community ethos while engaging effectively with market dynamics.
