Effective April 1, 2013, Nishnawbe Aski Development Fund (NADF) began delivering and administering the Aboriginal Business Financing Program (ABFP). The Aboriginal Business Financing Program (ABFP) replaces the Aboriginal Business Canada (ABC) program that was previously administered by Indian and Northern Affairs Canada (INAC).
ABFP is an equity program for Aboriginal entrepreneurs and businesses operating in northern Ontario. These contributions are generally non-repayable.
ABFP promotes the growth of a strong and vibrant Aboriginal business community in northern Ontario by offering Aboriginal entrepreneurs a range of services and supports. Support will vary depending upon the needs of the client, the availability and sources of funding, the eligibility of costs, the economic benefits, and the project viability.
- individuals of Canadian Aboriginal heritage (Status or Non-status Indian (on or off-reserve), Métis or Inuit); or
- a majority-owned Aboriginal business; or
- an Aboriginal community and/or development corporation operating in Northern Ontario.
To be eligible for support, clients should also be involved full-time with the proposed business in a management capacity and must be able to provide some level of cash equity to support the project.
What Support Does ABFP Offer?
- Business planning
- Establishment (capital) costs
- Business acquisitions
- Business expansions
- Marketing initiatives that are local, domestic, or export oriented
- New product or process development
- Adding technology to improve operations and competitiveness
- Operating costs in association with capital costs
- Financial services, business support, business-related training, and mentoring services
How Much Funding is Available?
Individual Aboriginal entrepreneurs may receive up to $99,999 in funding assistance. For community-owned businesses, this assistance can vary, to a maximum of $249,999. The level of support for your business project will depend on a number of factors that you will need to discuss with your ABFP Development Officer.
Requests for financial support are assessed on each project's viability and merits. Factors include the scope of the project, the need for financing, and whether other sources of financing are available — including funds received from other government departments and agencies. A successful application requires a balanced financial package, involving debt financing from other sources and a minimum of 10% cash equity.
While there are ceilings for the average contributions offered, the actual investment from AANDC will be limited to what is required to ensure your project proceeds and is viable.
How Do I Apply?