Indigenous Economic Response – $306.8 Million Dollars

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National Aboriginal Capital Corporation Association (NACCA) team has been working for over 7 weeks with federal partners for specific assistance for entrepreneurs. PM Justin Trudeau announced $306.8 million dollars to support indigenous businesses.

The funding will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit, and Métis businesses.

This will be processed through the Aboriginal Financial Institutions network.  Businesses should reach out to apply, however if you require any assistance with the process, please do not hesitate to reach out to 6474949885 ext 107 or email Ameera@cmfg.ca 

You may also share your story or if you have any questions, contact the CEO of NACCA at ceo@nacca.ca

WATCH the announcement here from the CEO of NACCA

  • Quick Facts
  1. Financial support for Indigenous businesses will be provided through Aboriginal Financial Institutions, and administered by the National Aboriginal Capital Corporations Association and the Métis capital corporations in partnership with Indigenous Services Canada.
  2. The funding will allow for interest-free loans, as well as non-repayable contributions, to help Indigenous businesses unable to access the government’s existing COVID-19 support measures. Additional funding will help Aboriginal Financial Institutions cover operational expenses, and help the National Aboriginal Capital Corporations Association increase its operational capacity.
  3. The National Aboriginal Capital Corporations Association is a network of 59 Aboriginal Financial Institutions providing a full range of financial services, loans, and grants to Indigenous entrepreneurs to start new and expand existing businesses.
  4. On March 18, 2020, the Government of Canada announced that it would provide $305 million for a new distinctions-based Indigenous Community Support Fund, to address immediate needs in First Nations, Inuit, and Métis communities.

ASSOCIATED LINKS 

Coronavirus disease (COVID-19)

Canada’s COVID-19 Economic Response Plan

Coronavirus (COVID-19) and Indigenous communities

Prime Minister announces more support for workers and businesses through Canada’s COVID-19 Economic Response Plan