Aboriginal Business Financing Program
The Aboriginal Business Financing Program (ABFP) promotes the growth of a prosperous and vibrant Aboriginal business community in Northern Ontario by offering Aboriginal entrepreneurs a range of services and supports. These contributions are generally non-repayable.
Through ABFP you may be eligible for financial assistance for a wide range of activities, including:
- 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, & mentoring services
Who can Apply to ABFP
- You are over the age of 18 and are of Aboriginal heritage (Status or Non-Status Indian (on or off-reserve), Metis or Inuit); or
- Your business is a wholly-owned or majority-owned (minimum 51%) Aboriginal business; or
- Aboriginal community and/or Development Corporation operating in Northern Ontario.
- You are involved full-time with the proposed business in a management capacity and can provide some level of cash equity to support the project.
We recommend that you speak with an ABFP Business Development Officer before submitting your application.
Available ABFP Grant Funding
- Individual Aboriginal entrepreneurs may receive up to $99,999 in funding assistance.
- Community-owned businesses may receive up to $249,999 in funding assistance.
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.
While there are maximums for the ABFP contributions offered, actual ABFP funding will be limited to what is required to ensure your project proceeds and is viable.
ABFP Equity Requirement
A successful application requires a balanced financial package, including debt financing from other sources and an equity contribution. Equity contributions may vary, but minimum requirements are:
- Applicants 18-35 years, minimum 10% equity requirement
- Applicants over 35 years, minimum 15% equity requirement
ABFP Funding Provided by National Aboriginal Capital Corporation (NACCA)
Questions? Contact Us