The Government of Canada is working with Aboriginal Financial Institutions to provide funding to assist Indigenous business owners during COVID-19. The following provides a brief summary of this government program, including details relating to eligibility, how to apply and general terms and conditions, as applicable. We will endeavour to update this page on a daily basis. However, for a complete and up to date description, please consult the applicable program webpage. Should you have any questions, please feel free to reach out to a Goodmans lawyer.
- Indigenous Business Program
- The program provides short-term, interest-free loans and non-repayable contributions to small and medium-sized First Nations, Inuit and Metis businesses through their current Aboriginal Financial Institution.
- Up to $40,000 will be available to each eligible business, inclusive of an interest-free loan of $30,000, and a non-repayable contribution of $10,000.
- Small and medium-sized Indigenous businesses that are current or former clients of an Aboriginal Financial Institutional may be eligible for funding.
- Businesses that have an established relationship with a major bank may choose to get support from the CEBA instead of applying through an Aboriginal Financial Institution.
How to Apply
Interested parties should contact their Aboriginal Financial Institution to apply for support.