Did you know that if you are of Indigenous heritage, which includes First Nations, Metis, and Inuit, that you could be eligible for specific financial loans, and grants as a small business owner?
Here's a rundown of some of the specific financial loans and grants for Indigenous entrepreneurs:
GRANT PROGRAMS
These two organizations provide financial grants to Indigenous entrepreneurs. These programs typically operate as such:
The usual practice is that an Indigenous entrepreneur applies for a loan (either through Community Futures, another lender, or an Indigenous lender). First Nation or Metis entrepreneurs can then apply for a grant (usually 30% ) from the Metis Assistance Program (MEAP) or the Status Indian Assistance Program (SEAP). The applicant may need to provide 10% of the cash. Upon approval of the loan and grant, the grant is applied immediately to the loan upon being issued.
For example, the Indigenous entrepreneur has approval of $50,000 for the project
Client cash $ 5,000
SEAP/MEAP contribution $15,000
Commercial loan $30,000
As a result, the applicant will be advanced $45,000 and repay $30,000 loan.
Status Entrepreneurs Assistance Programs (SEAP)
This program provides equity assistance for the start-up or the expansion of small businesses for Status individuals. SEAP is a non-repayable grant that is available to help mitigate how much you are borrowing from a financial institution. It can provide up to 30% of your project total to a maximum of $99,999.
Contact Information:
Website: https://aiicbusiness.org/
Phone Number: (780)-470-3600
Toll-Free Number: 1-888-308-6789
Email Address: info@aiicbusiness.org
Metis Entrepreneurs Assistance Programs (MEAP)
This program provides equity assistance for the start-up or the expansion of small businesses. The grant is for Métis, Inuit or Non-Status individuals and is named The Métis Entrepreneurs’ Assistance Program (MEAP).
Contact Information:
Website: https://apeetogosan.com/
Phone Number: (780)-452-7951
Email Address: office@amdi.co
INDIGENOUS LENDERS
These are organizations that provide financial loans and are considered Indigenous Lenders:
Indian Business Corporation
IBC provides development lending and financial services to First Nations' businesses and individuals across numerous sectors and disciplines including agriculture, heavy equipment & transportation, service, and hospitality industries. We have also funded a variety of viable ventures in the mining industry, audio & visual, and the oil & gas industry.
Services Provided:
Agricultural loans
Heavy equipment loans
Other loans
Contact Information:
Website: http://www.indianbc.ca
Edmonton Phone Number: (780)-944-2879
Calgary Phone Number: (403)-291-5151
Email Address: margy@indianbc.ca
Alberta Indian Investment Corporation
The Alberta Indian Investment Corporation is a First Nation-owned investment company providing lending and business resources for First Nation people in the province of Alberta. The entrepreneurial support we provide empowers First Nation business owners to successfully build businesses that will drive a positive impact on their community.
Services Provided:
Grant Program - Stats Entrepreneurs Assistance Program (SEAP) only
Assistance for start-up or the expansion of small businesses
Contact Information:
Website: https://aiicbusiness.org/
Phone Number: (780)-470-3600
Toll-Free Number: 1-888-308-6789
Email Address: info@aiicbusiness.org
Settlement Investment Corporation
Services Provided:
Grant program - Métis Entrepreneurs Assistance Program (MEAP) only
Commercial loan
Agricultural loan
Contact Information:
Phone Number: (780)-488-5656
Email Address: angelal@settlementinvestcorp.com
Apeetogosan (Métis) Developmental Inc. & Pinnacle Business Service Ltd.
Apeetogosan is committed to providing profitable and sustainable financial services and support to clients who seek the means to attain economic self-sufficiency.
Pinnacle Business Services Ltd., a wholly-owned subsidiary of Apeetogosan (Métis) Development Inc., is committed to providing professional, efficient, and effective business advisory assistance to the Alberta Aboriginal business community.
Contact Information:
Website: https://apeetogosan.com/
Phone Number: (780)-452-7951
Email Address: office@amdi.co
OTHER LENDERS:
These are organizations that provide financial loans and are considered Indigenous Lenders:
Community Futures
The Community Futures Network of Alberta (CFNA) is a community-driven, non-profit business loan and business development organization made up of 27 Community Futures offices throughout rural Alberta. The mandate of the Community Futures Network of Alberta is to support small business development and rural economic diversification in Alberta. We actively work with community and business leaders to foster rural economic growth and are partners in building vibrant and sustainable communities.
Services Provided:
Helping you write a business plan
Marketing plan or business expansion strategy
One-on-one coaching and business mentoring
Securing financing
And much more!
Contact Information:
Website: https://www.communityfuturessl.com
Phone Number: (780)-849-3232
Email Address: adminlsl@albertacf.com
Alberta Women Entrepreneurs
AWE offers loans for women-owned businesses in Alberta. We can help provide the financing you need to start or grow your business, and we have a community to support you along the way.
Contact Information:
Website: https://www.awebusiness.com
Phone Number: 1-800-713-3558
Futurpreneur Canada
At Futurpreneur Canada, we support Indigenous entrepreneurs aged 18-39, helping them launch or buy their own businesses. With up to $60,000* in financing, an expert mentor for up to two years, and access to resources, we’re here to help young entrepreneurs bring their business plans to life.
Service Provided:
Collateral-free loans supplemented by a mentorship program
Contact Information:
Website: https://www.futurpreneur.ca
Phone Number: 1-800-464-2932
BDC:
We are BDC, the Business Development Bank of Canada and the financial institution devoted to Canadian entrepreneurs. We help create and develop strong Canadian businesses through financing, advisory services, and capital, with a focus on small and medium-sized enterprises. We support entrepreneurs in all industries and at all stages of development from business centers across Canada. We’re committed to the long-term success of Canadian entrepreneurs and we understand that a business is more than just dollars and cents.
Services Provided:
Financing
Advisory Services
Wholesale financing
Cleantech practice
Venture Capital
Growth & Transition capital
Growth equity
Contact Information:
Website: https://www.bdc.ca
Phone Number: 1-877-232-2269