Microcredit : Indigenous Youth Entrepreneurship Program (IYE)
This microcredit program is specifically designed to support Indigenous youth between the ages of 18 ans 39 years old who want to start or grow their business. Due to customized financing, including the possibility of a non-repayable contribution, we support them at every step of your entrepreneurial project with the tools and resources you need to facilitate their succes.
Part-time business projects are also eligible!
Types of loans
MAXIMUM LOAN:
$25,000
MAXIMUM PROJECT COST:
$75,000
DURATION:
Up to five years
INTEREST RATE:
Fixed and advantageous for the duration of the loan
FORGIVABLE LOAN:
A portion of the loan may be forgiven if it well repaid.*
*(certain conditions apply).
– A minimum down payment of 5% is required. Asset transfers are accepted.
– The business must be owned by one or more Indigenous youth with over 50% of shares and operational responsibility.
Eligible Costs
Start-up costs
Employee salaries
Working capital
Equipment rental or purchase
Marketing and promotion
Inventory
External professional services
Training programs
Eligible Clientele
Premières Nations
Anishinabe (Algonquin)
Atikamekw
Eeyou (Cree)
Wabanaki (Abenaki)
Wendat (Huron)
Wolastoqiyik (Maliseet)