Amount:
$250,000.00
Type of Program:
Grant
Description:
Waubetek can assist Aboriginal businesses with capital to establish, expand or acquire businesses on or off reserve in North-East Ontario.
Comments on Funding:
Funding is a percentage of the total project costs as following:
1. up to $99,999 for individuals,
2. up to $250,000 for First Nation Communities/First Nation owned businesses.
3. up to 75% of the costs for Business Planning, Business Valuations, Marketing, Business Support and Mentorship.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
Applicants must be:
Individuals must provide a minimum of 10% equity and must also leverage commercial financing in order to access the conditional contribution for capital projects.
First Nation Communities/First Nation owned businesses must provide a minimum of 10% equity and must also leverage commercial financing in order to access the conditional contribution for capital projects. For Business Planning, Business Valuations, Marketing, Business Support and Mentorship costs applicants must provide 25% equity and ABFP may provide up to 75% of these costs within the above stated limits. No commercial loans are required for projects within these categories.
Applications Steps:
Applicants must submit the application and the supported documentation online.
Documentation Needed:
The applicant must provide:
- 1a government ID (driver’s license, health card,) etc, or, if corporation, copies of their incorporation documents, by-laws, and confirmation of signing authorities;
- 2documentation of Aboriginal Ancestry; Proof of Aboriginal heritage is required through one of the following:
- 3a resume;
- 4a summary of its project;
- 5its Cash Equity Confirmation & Documentation.
- 6a full consulting proposal/marketing plan/business plan/business valuation once the client eligibility is established. Information on an appropriate structure for preparing a business plan will be provided.
