TERM LOAN



GENERAL INFORMATION

EQUITY REQUIRED
Minimum 10% of the total cost of the project
The transfer of assets may be considered as equity .

INTEREST RATES
Competitive and comparable to other traditional financial institutions
Based on the risk associated with the project

DURATION
Based on the lifespan of the asset
Up to 30 years

CHARACTERISTICS

  • For the start-up, acquisition or expansion of an Aboriginal business
  • The amount of the loan is determined by the borrower’s repayment capacity
  • The value of guarantees offered must be sufficient to reasonably cover the amount borrowed


AS AN EXAMPLE:
Building and land  ̶̶  Up to 70%
Equipment  ̶̶  Up to 70%
Inventory  ̶̶  Up to 50%
Working capital  ̶̶  0%

Eligible Clientele

FIRST NATIONS
  • Abenaki
  • Algonquin
  • Atikamekw
  • Huron-Wendat
  • Malecite
  • Micmac
NATIVE ALLIANCE OF QUEBEC

Documents required

To apply for financing you must provide us with the following:
Application for financing form
Personal balance sheet form
Declaration regarding the accuracy of information provided and consent to gather, keep, use and disclose personal information Form
Résumé
Proof of Aboriginal ancestry (copy of the Indian Status card or member of the Native Alliance of Quebec)
Business plan (if already prepared)
Documentation

For an existing business


  • Financial statements for the last three years
  • Recent interim financial statements
  • Governing documents of the business
  • Ownership agreement (where applicable)