GENERAL INFORMATION
Equity
Interest
Duration
Equity
EQUITY REQUIRED
Minimum 10% of the total cost of the project
The transfer of assets may be considered as equity .
Minimum 10% of the total cost of the project
The transfer of assets may be considered as equity .
Interest
INTEREST RATES
Competitive and comparable to other traditional financial institutions
Based on the risk associated with the project
Duration
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
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:
Résumé
Proof of Aboriginal ancestry (copy of the Indian Status card or member of the Native Alliance of Quebec)
Business plan (if already prepared)
For an existing business
Financial statements for the last three years
Recent interim financial statements
Governing documents of the business
Ownership agreement (where applicable)
