Two Rivers Community Development Centre (TRCDC) – Start-up financing (2022)

ByMaurice

Description:

The goal of providing start-up financing is to encourage Aboriginal entrepreneurship that contributes to a vibrant and sustainable economy. TRCDC can provide startups with money to purchase equipment and inventory, finance purchase orders and cover operating expenses.

Comments on Funding:

Loans have flexible repayment terms and are structured to encourage the long-term viability of the business.

Eligibility:

Academic institutions must:

  • be aboriginal owned and controlled businesses (50.1% held by Aboriginal entrepreneurs). Where ownership and or control of a business is not solely held by Aboriginal entrepreneurs each project will be considered on a case by case basis to ensure that the Aboriginal owner will stand to gain from the funding provided by TWO RIVERS.
  • be entrepreneurs with a great business idea and startup businesses in the TRCDC service area;
  • have no less than 10% to 15% equity. Equity in the form of contributed assets (directly related to the business) may occasionally be considered. TWO RIVERS does not recognize personal assets such as a personal vehicle or residential real estate as equity. In the case of an existing business, TWO RIVERS can recognize the equity they have built up in their business.
  • have a demonstrated ability to repay;
  • have evidence of future economic viability management skills.

Other Things to Note:

  1. First Nations:
  • Missisaugas of the Credit First Nation,
  • Six Nations of the Grand River.
  1. Counties
  • Oxford, Norfolk,
  • Perth, Waterloo,
  • Wellington Peel,
  • Dufferin, Grey,
  • Brant, Haldimand,
  • Hamilton, Niagara,
  • Halton, Simcoe, and
  • York including the,
  • GTA.

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.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *