NON-REFUNDABLE CONTRIBUTION

To start, acquire or expand your business, SOCCA offers the Aboriginal Business Development Program (ABDP) to finance your project through a non-refundable contribution.

To apply for a non-refundable contribution or a loan, complete the “Application for Financing” from and an agent will contact you as soon as possible.

ELIGIBLE ACTIVITIES

  • Start-up, acquisition or expansion of a business
  • Implementation of marketing activities
  • Business support (coaching, accounting, etc.)
  • Development of a business plan and feasibility studies (assessments, environmental studies, etc.)

Eligibility criteria

  • Be:
    – A First Nation or the Native Alliance of Quebec
    – A member of a First Nation or the Native Alliance of Quebec
    – A corporation owned by a First Nation, the Native Alliance of Quebec or by one of their members
  • Have the necessary financial resources
    (equity: 10% minimum of the cost of the project)
  • Present a viable business project
  • Have a good credit rating
  • Have experience and training in the field of activities
  • Mandatory full-time involvement in the business
  • Operate a business not involved in the following sectors of activity (gambling, sex, alcohol, tobacco)

Other sources of financing

A non-refundable contribution is the last resort in terms of financing which means that:

  • All additional sources of financing have been considered and approved
  • Borrowing capacity is at its maximum
  • Equity is at its maximum

The following factors will be evaluated to determine the amount to which you are entitled:

  • Eligible expenses (cost of project)
  • Net value of applicant (equity)
  • Other available sources of financing

Maximum contribution:

  • For a private project, up to $99,999
  • For a community project (band council), up to $1 million

ELIGIBLE CLIENTELE

First Nations
  • Abenaki
  • Algonquin
  • Atikamekw
  • Cree
  • Huron-Wendat
  • Malecite
  • Micmac
Native Alliance of Quebec


DOCUMENTATION


Coaching

SOCCA offers financing products and services in the from of non-refundable contributions, term loans and coaching to start, acquire or expand Aboriginal businesses.

  • Consulting
  • Support in the development of the project
  • Participation in the financing package of your project
  • Business monitoring
important

No expenses incurred prior to approval of your
file will be considered eligible in the calculation
of the non-refundable contributionprior to final approbation of your file

Contribution level

Development of a business plan, marketing plan or feasibilities studies
Contribution rate up to 75%

Start-up, acquisition or expansion of a business
Contribution rate up to 40%

Implementation of marketing activities
Contribution rate up to 60%

Project-related management
Contribution rate up to 75%

Professional advisory services after the business is launched (accountant or other)
Contribution rate up to 75%

equity required -
individual

Net value - Less than $350,000
Equity from 10% to 15%

Net value - $350,000 to $700,000
Equity from 16% to 20%

Net value - $700,000 to $1 million
Equity from 21% to 25%

Net value - More than $1 million
0% - self-financing

Equity required -
Band council

Net value - Less than $3.5 million
Equity from 10% to 15%

Net value - $3.5 million to $7 million
Equity from 16% to 20%

Net value - $7 million to $10 million
Equity from 21% to 25%

Net value - More than $10 million
At the discretion of AANDC