BDC's specialized financing increases access to capital for Aboriginal entrepreneurs wanting to expand an existing business or start a new one, on or off a reserve in Canada. Under the GCAB program, you can obtain financing to a maximum amount of $25,000 for start-ups and up to $100,000 for existing businesses. If your business requires additional funds, BDC offers other financing options.
Business management coaching
- Support is available through a special alliance with CESO Aboriginal Services. Includes ongoing mentoring and business management advice for the first 2 years following loan approval.
- Costs for business coaching can be incorporated into the financing package
Security can include:
- Band Council Resolutions and other letters of support when the business is located on reserve land
- Realty mortgages
- Security agreements providing a charge on chattels
- Personal or corporate guarantees
Community supportBDC will refund a portion of the interest paid on a loan to a community organization or charity chosen by the borrower. It will be calculated at the rate of 0.5% of the average loan balance with a minimum amount of $100 and paid annually after the first year of the loan. To qualify, the loan must be operating satisfactorily without any outstanding payments.
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How can BDC help you?
BDC's Aboriginal Banking department can provide support to businesses that:
- Have a commercially viable business proposal
- Have an acceptable level of management expertise
- Demonstrate financial commitment
- Are willing to take part in a mentorship program
- Operate on- or off-reserve in Canada
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