Maurice
Posted: January 26, 2022

Amount:

$350,000

Type of Program:

Loan


Description:

BDC provides up to $350,000 to Indigenous entrepreneurs to start or grow their business, whether they operate on or off reserve. Loans can be used to: acquire fixed assets; finance franchise fees; cover start-up costs; start exporting; or replenish working capital.  

Comments on Funding:

Financing is up to $350,000, and starts at $100,000 (the online application systems requests amounts higher than $100,000).

  1. 1
    $10,000 for businesses that have been in operation between 12 and 24 months and 
  2. 2
    $100,000 for businesses that have been in operation for more than 24 months.

The above-mentioned amounts are requested by the online application system when trying to apply.

Benefits: flexible repayment terms to protect your cash flow; BDC will return part of the interest paid to a registered charity of the applicant's choice; personal assets will not be taken as a collateral.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

  • be Indigenous Entrepreneurs and and business owners operating on or off reserve;
  • be Canadian citizens or permanent residents;
  • have reached the age of majority in the province or territory in which they live;
  • have a business that has been in operations for at least 12 months.

Application Steps:

Applicants must:

1

complete an online business loan request providing a few details about the company and about the contact person;

2

further discuss with a BDC representative when contacted.

Testimonials:

"BDC has been true advocate for my business and showed confidence in our growth potential. This is a bank that genuinely cares about entrepreneurs!" - Jullianna CharltonCEO, NoMiNoU Athleisure

About the author 

Maurice

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.

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