Type of Program:
Grant & Loan
The ELP is designed as an emergency measure to support Indigenous small business owners in meeting their immediate operating cash flow needs. These funds are not intended to replace or duplicate government or other bank/lender emergency financing/funds that are available to businesses in Canada.
Comments on Funding:
Funding is up to $60,000 where:
- the first portion of $40,000 is comprised of a 75% loan and 25% non-repayable contribution,
- the second portion of $20,000 is comprised of a 50% loan and 50% non-repayable contribution.
Loan terms and conditions:
- 1Loan and contribution are issued together.
- 2The repayment period is up to 48 months.
- 3Loans are interest free.
- 4There are no payments in the first 12 months.
- 5Loan payments begin in month 13 and are fully amortized over the remainder of the term.
When It Ends:
Applicant must be:
For questions, an application package and/or to submit an application please contact Jamie Hall at email@example.com / 1-800-363-0329 or visit www.indianag.on.ca .
Applicants must submit:
- 1completed and signed ELP Application;
- 2identification and proof of Indigenous ancestry;
- 3historical financial statements (Income Statement / Balance Sheet) for the last fiscal year, if applicable, OR if not, a current balance sheet (template provided);
- 412 Month Cash Flow Statement (Template provided).
A credit bureau check will be done by IAPO.
Other Things to Note:
In response to the COVID-19 crisis, Indian Agricultural Program of Ontario (IAPO) through assistance provided by the Government of Canada is providing emergency loans to Indigenous business owners impacted by Covid-19. The Emergency Loan Program (ELP) is a component of the Indigenous Business Stabilization Program (IBSP).
COVID Related Measures:
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe’s background and how he can help your business.