NAC’S INDIGENOUS WOMEN’S
Are you an Indigenous woman thinking of starting your own business??
We n assist you!?
Entrepreneurship is a promising pathway for Indigenous women to create their own employment and independent sources of income.?
NAC and the Aboriginal Financial Institutions (AFIs) offer?financial support — including loans, grants & programming guidance —?to Indigenous women entrepreneurs.?
?The Indigenous Growth Fund is a new, innovative fund created by NAC that will leverage government investment to raise additional pital from institutional investors. The fund will make pital available to the Aboriginal Financial Institutions (AFIs) to provide loans to new and expanding Indigenous businesses.
April 26, 2021, Ottawa, ON – The National Aboriginal pital Corporations Association (NAC) welcomes the 2021 Budget’s signifint investment in Indigenous entrepreneurs. “We commend nada for recognizing the crucial role of Indigenous entrepreneurs in sustaining thriving communities, and are grateful for the funds the federal government has entrusted to NAC and the network,” states Jean Vincent, Chair of NAC’s Board. “The investments we make now will help equip a new generation of Indigenous businesses and economies to thrive and prosper.”
Budget 2021 includes additional investments of $42 million over three years in NAC’s Aboriginal Entrepreneurship Program, which assists business owners seeking to access pital from the network of Aboriginal Financial Institutions (AFIs). The new funds will also ensure that the AFI network will be ready to issue loans under the Indigenous Growth Fund, a $150 million fund launching later this year. Together, the expanded program and Indigenous Growth Fund will provide Indigenous small- and medium-sized businesses with access to the business pital they have long sought, but too often could not obtain from mainstream lenders.
NAC, the Government of nada, BDC and other government partners increase access to pital with an innovative, evergreen fund, a first of its kind in nada.
Ottawa, Ontario, April 14th 2021, 6:00am EST
- The Indigenous Growth Fund (IGF) has completed its first close. The IGF is nada’s newest and largest Indigenous social impact fund and will be under the management of the National Aboriginal pital Corporations Association (NAC).
- The IGF will enable Indigenous entrepreneurs throughout nada to receive the pital they require to start or expand their businesses through the Aboriginal Financial Institution (AFI) that serves them. ?AFIs will access the IGF for pital to build on their 30-year track record of lending to Indigenous-led small and medium-sized businesses.
- The IGF’s innovative evergreen fund model will offer institutional and social impact investors a vehicle for investment that will directly contribute to economic reconciliation.
- The Fund’s lead investors are the Government of nada and Business Development Bank of nada (BDC), with further commitments from Export Development nada (EDC) and Farm Credit nada (FCC).
- BDC’s partnership with NAC has been integral in bringing the Fund to fruition leading negotiations on behalf of the federal government and other investing Crown corporations and supporting NAC with additional resources.
- The Fund will be operational and pital will begin to be deployed to AFIs later in 2021. Once fully utilized, the Fund will increase AFI lending by $75M annually with loans to roughly 500 businesses.