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TACC Conventional Loan - BC - Canada

TACC Conventional Loan

Last Update: July 22, 2025
BC, Canada
Conventional business loans for Indigenous entrepreneurs in Coast Salish

At a glance

Eligible Funding
  • Max. $250,000
  • Up to 85% of project cost
Timeline
  • Open Date : November 14, 2019
Financing Type
Loans and Capital investments
Eligible Industries
  • All industries
Funds Providers
Unspecified
Program status
Open

Overview

Get up to $250,000 with a sliding scale interest rate and flexible amortization if you want to start or grow a business in the Coast Salish Territory.

Financing terms and conditions

The TACC Conventional Loan offers Aboriginal Entrepreneurs in the Coast Salish Territory an opportunity to access substantial financing for their business ventures. With a range of terms tailored to meet different financing needs, these loans aim to support entrepreneurial growth and development while ensuring flexibility in repayment.
  • Maximum loan amount of $250,000.00.
  • 1.5% borrowers fee applicable.
  • Flexible amortization terms ranging from 1 to 10 years.
  • Options for monthly, semi-annual, and annual payment terms.
  • Sliding scale interest rate starting at 8%, adjusted based on the credit rating of the borrower.
  • Minimum cash equity contribution of 15% required.

Activities funded

Examples of admissible projects:
$ 80,000
Set up a mobile tech repair service to serve the community
$ 120,000
Create a digital platform for Indigenous artists to sell their work online from Burnaby
$ 140,000
Establish a community gardening project to enhance local food security
$ 100,000
Launch a craft brewery focused on local ingredients and sustainable practices
$ 180,000
Develop an eco-friendly packaging line for a local food production company
$ 75,000
Expand a community kitchen project to offer cooking classes and food distribution

Eligibility

Eligibility for this financing requires specific conditions to be met by the applicant's business and ownership structure.
  • The business must be at least 51% Aboriginal owned and operated.
  • The applicant must be an Aboriginal Entrepreneur, including Status, Métis, Inuit and Non-Status Indians, residing in the Coast Salish Territory.
  • A minimum cash equity contribution of 15% is required.

Who is eligible?

This grant is available to Aboriginal Entrepreneurs residing in the Coast Salish Territory who are either Status, Métis, Inuit, or Non-Status Indians. The businesses must be at least 51% Aboriginal owned or operated to qualify.

Eligible geographic areas

This grant is available to companies located in specific geographical areas as determined by the funding body. It targets Aboriginal Entrepreneurs residing in Coast Salish Territory.
  • Businesses operating within the Coast Salish Territory.

How to apply

1

Determine Eligibility

  • Review the types of loans available: FCF Loan and Conventional Loan.
  • Assess the minimum business ownership and cash equity contribution requirements.
2

Gather Required Documentation

  • Prepare documents related to business ownership and operation details.
  • Compile financial statements and a business plan to support your loan application.
3

Complete Application Form

  • Fill out the loan application form provided by TACC.
  • Ensure all information is complete and accurate before submission.
4

Submit Application

  • Send the completed application form along with all required documents to TACC.
  • Follow any specific instructions for submission provided by TACC.
5

Await Confirmation

  • Wait for confirmation of receipt from TACC, including any reference number.
  • Keep confirmation details for future reference.
6

Respond to Follow-up Requests

  • Check for any additional requests or inquiries from TACC regarding your application.
  • Provide any further information or clarification as needed.

Additional information

Here are additional relevant details for this grant:
  • The loan forgiveness portion is deducted in four installments of 10% each, which is based on specific terms and conditions outlined in the FCF Agreement.
  • For FCF loans, flexibility in payment terms includes choices of monthly, semi-annual, or annual payments, which can assist with cash flow management.
  • The structured forgiveness can significantly reduce the effective interest expense over the loan term on the FCF Loan.
  • Business client care services come with a fee of 1.5% for both FCF and Conventional loans, highlighting a need to account for these additional costs in budget planning.
  • The sliding scale interest rate of the Conventional Loan starting at 8% varies depending on the applicant's credit rating, indicating the importance of maintaining a good credit score.

Documents and links

TACC Conventional Loan

Apply to this program

Frequently Asked Questions about the TACC Conventional Loan Program

Here are answers to the most common questions about the TACC Conventional Loan. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the TACC Conventional Loan?

How much funding can be received?

What is the deadline to apply?

Is the TACC Conventional Loan a grant, loan, or tax credit?

Who are the financial supporters of the TACC Conventional Loan?

Who is eligible for the TACC Conventional Loan program?

Who can I contact for more information about the TACC Conventional Loan?

Where is the TACC Conventional Loan available?

Are Indigenous Peoples eligible for the TACC Conventional Loan program?

Apply to this program

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