Grant Name: Indigenous Businesses Initiative

Status:

Active

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Deadline:

Ongoing

Description

Support for Indigenous businesses during the COVID-19 outbreak.

The Government of Canada is providing up to $306.8 million in interest-free loans and non-repayable contributions for First Nations, Inuit and Métis businesses.

The Indigenous business initiative is part of the Government of Canada’s COVID-19 Economic Response Plan.

Financial support is provided through Aboriginal Financial Institutions and Métis Capital Corporations. The initiative is administered by the National Aboriginal Capital Corporations Association and the Métis Capital Corporations, in partnership with Indigenous Services Canada.

This federal initiative complements support offered by the provinces and territories.

Eligibility

Small and medium-sized Indigenous businesses in need, including current or former clients of:

  • an Aboriginal Financial Institution
  • a Métis Capital Corporation

How to Apply?

As of December 4, 2020, up to $60,000 is available to small and medium-sized Indigenous businesses:

  • an interest-free loan up to $40,000
  • a non-repayable contribution up to $20,000

Before December 4, 2020, each eligible business could receive up to $40,000, including up to $30,000 as an interest-free loan and $10,000 as a non-repayable contribution. Applicants who have received the $40,000 of financing may apply for the $20,000 expansion (of which $10,000 will be a non-repayable contribution).

The deadline to apply for the expanded support is June 30, 2021. Contact your Aboriginal Financial Institution or Métis Capital Corporation to apply.

If your business was the recipient of the Canada Emergency Business Account, you are invited to contact the same financial institution for additional support from the Canada Emergency Business Account Plus relief measure.

Contact your Aboriginal Financial Institution, Métis Capital Corporation or the National Aboriginal Capital Corporations Association for help determining the best options for relief for your business.

Funding Amount

TBD

Contact Information

Processing Fee

NA

Location/Classification

Canada
COVID-19 / Business

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