TACC New Relationship Trust (NRT) Entrepreneur Equity Match Grant
Vancouver, BC, Canada
Grants for First Nations Entrepreneurs with TACC business loans
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- grant_single|timelineUnspecified
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Grant and Funding
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- Tale'awtxw Aboriginal Capital Corporation
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Get an equity match of up to $5,000 for BC First Nation entrepreneurs within the traditional Coast Salish territory for projects to establish, modernize or expand a business.
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This initiative aims to support BC First Nation entrepreneurs in establishing, modernizing, or expanding their businesses. It provides the necessary funds to enhance business infrastructure and operations through equity-matching support.
- Establishment of new businesses by BC First Nation entrepreneurs.
- Modernization of current business operations or infrastructure.
- Expansion projects for existing businesses seeking growth.
grant_single|admissibleProjectsExample
$1,125
Modernizing a traditional craft store to incorporate e-commerce capabilities
$3,000
Modernizing a fish processing facility with new refrigeration units
$1,500
Establishing a new eco-friendly cleaning service
$3,750
Establishing a new organic food delivery service
$2,250
Expanding a traditional Coast Salish art gallery with new exhibit space
$4,750
Expanding a community-run agricultural co-op with new equipment
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria related to the applicant's location, business status, and financial agreements.
- The applicant must reside within the traditional Coast Salish territory.
- The applicant must be a BC First Nation entrepreneur or a First Nation community business, either status or non-status.
- Priority is given to BC First Nation entrepreneurs residing on-reserve.
- The applicant must provide cash equity for the equity-matching initiative.
- The equity-matching is contingent upon the approval of a term loan from TACC.
grant_eligibility_criteria|who_can_apply
The Entrepreneur Equity-Matching Initiative targets BC First Nation entrepreneurs and First Nation Community businesses within the traditional Coast Salish territory. Both status and non-status BC First Nation entrepreneurs are eligible, with a priority given to those residing on-reserve.
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Based on the information provided, BC First Nation entrepreneurs and First Nation Community businesses are the only eligible recipients for the grant, with priority given to BC First Nation entrepreneurs residing on-reserve.
- Non-First Nation entrepreneurs
- Businesses outside the traditional Coast Salish territory
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Eligible expenses for this grant include:
- Establishing, modernizing, or expanding a business
- Matching equity up to $5,000 or 25% of project costs
- Cash equity for the entrepreneur
grant_eligibility_criteria|zone
This initiative is specifically designed for BC First Nation entrepreneurs within designated territorial boundaries. The eligible geographical area focuses on the traditional Coast Salish territory to align with community-driven economic goals.
- Traditional Coast Salish territory
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There are evaluation and selection criteria for this grant.
- Applicants must reside within the traditional Coast Salish territory.
- BC First Nation entrepreneurs and First Nation Community businesses are the only eligible recipients (status or non-status), with priority given to BC First Nation entrepreneurs residing on-reserve.
- Up to a maximum of $5000 or 25% of project costs, whichever is less, in matching equity is available per entrepreneur or community business.
- The entrepreneur equity must be cash equity.
- The equity-matching is conditional on TACC approving a term loan (debt-financing) for the entrepreneur or community business.
grant_single_labels|register
- Step 1: Determine Eligibility
- Ensure you reside within the traditional Coast Salish territory.
- Confirm that you are a BC First Nation entrepreneur or part of a First Nation Community business.
- Step 2: Prepare Equity Contribution
- Gather proof of cash equity available for the project.
- Calculate the total project costs to determine the eligible matching equity amount, ensuring it does not exceed $5,000 or 25% of the total project costs.
- Step 3: Apply for TACC Term Loan
- Complete the application process for a term loan through TACC.
- Prepare necessary loan application documents as required by TACC.
- Step 4: Submission of Application
- Submit your loan application and equity-matching request to Tale’awtxw Aboriginal Capital Corporation (TACC).
- Ensure all documentation is complete and verifies the eligibility criteria.
- Step 5: Confirmation
- Wait for confirmation from TACC regarding the approval of your term loan, which is a prerequisite for the equity-matching fund.
- Upon approval, follow any additional instructions provided by TACC to finalize the grant process.
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The Entrepreneur Equity-Matching Initiative offers additional relevant details to consider:
- The funding is contingent on obtaining a term loan, highlighting a prerequisite for grant approval.
- The initiative supports a collaborative effort between NRT and TACC, suggesting potential resources or support from both organizations.
- Applicants should acknowledge this initiative is distinctly catered to enhancing the economic opportunities for BC First Nation entrepreneurs.
grant_single_labels|contact
info@tacc.ca
604-926-5626
Apply to this program
Empowering BC First Nation Entrepreneurs with Equity-Matching Funds
The Entrepreneur Equity-Matching Initiative, a collaborative efforts of the New Relationship Trust (NRT) and Tale’awtxw Aboriginal Capital Corporation (TACC), offers equity-matching grants up to $5,000 for BC First Nation entrepreneurs. This initiative is tailored to foster the growth and modernization of Indigenous-owned businesses by complementing traditional loan financing with crucial equity support.
Diving Deep into the Entrepreneur Equity-Matching Initiative
This initiative represents a significant opportunity for BC First Nation entrepreneurs seeking to propel their business ventures. Nestled within the geographic boundary of the traditional Coast Salish territory, this program specifically addresses the financial barriers often faced by Indigenous entrepreneurs. By providing up to $5,000 in matching equity—capped at a quarter of the total project costs—the Entrepreneur Equity-Matching Initiative plays a pivotal role in bridging funding gaps that might otherwise hinder business development.What makes this initiative particularly impactful is its focus on equity-matching, which requires applicants to leverage their own cash equity to qualify. This requirement not only ensures that the entrepreneur is actively invested in their business's success but also encourages a sustainable financial model by pairing equity with debt financing. The grant is contingent upon the approval of a term loan from TACC, thereby integrating financial responsibility with supportive funding.By emphasizing equity contribution, the initiative empowers entrepreneurs from BC First Nation communities to retain greater ownership and control over their ventures while also accessing necessary external financial resources. This equity-matching model contrasts with typical loan structures that might lead to heightened debt burden, helping ensure that these burgeoning businesses can grow sustainably.Moreover, the program prioritizes applicants who reside on-reserve, acknowledging their unique economic contexts and providing them optimal access to entrepreneurial advancement. Such prioritization aims to enhance economic opportunities within these communities, fostering self-sufficiency and economic resilience.The partnership between NRT and TACC underscores a strategic alliance toward economic empowerment. It supports both individual entrepreneurs and community-based businesses, allowing for a diverse range of projects to benefit from this financial scheme. Whether potential grantees intend to launch a new business, expand an existing one, or modernize their operations, the initiative provides versatile support adaptable to various business stages and sectors.Essentially, the initiative is designed to catalyze economic development within Indigenous communities, addressing historical inequities in access to business finance. By facilitating these equity-matching grants, the scheme not only aids in immediate capital needs but also strengthens the long-term financial foundations of Indigenous enterprises.This initiative serves as a stepping stone towards rebuilding and revitalizing Indigenous economic enterprises. It encourages innovation, entrepreneurship, and ultimately, economic self-determination for First Nation communities within BC. Entrepreneurs not only benefit from financial grants but also gain a foothold in the broader economic landscape, creating ripples of growth and opportunity in their communities.The Entrepreneur Equity-Matching Initiative is more than just a grant program—it's a commitment to catalyzing lasting economic change. For those eligible, it's an invaluable part of balancing risk and reward in the business growth ecosystem, providing them the financial leverage and confidence needed to thrive in today's competitive markets.