The Assembly of First Nations (AFN) is a national advocacy organization representing First Nation citizens in Canada, which includes more than 900,000 people living in 634 First Nation communities and in cities and towns across the country.
First Nation leaders (Chiefs) from coast to coast to coast direct the work of AFN through resolutions passed at Chiefs Assemblies held at least twice a year.
Community Profile: Aboriginal Business Loan Program
Description of Program/Initiative
Business loans are available to Aboriginal entrepreneurs in British Columbia. All Nations Trust Company (ANTCO) delivers the Aboriginal Business Loan Program in partnership with four Aboriginal Capital Corporations located throughout the province.
Intended to support the creation of successful new Aboriginal-owned and operated businesses; support the expansion of existing Aboriginal business and employment opportunities; and support the purchase of existing businesses by Aboriginal entrepreneurs.
Lenders are located in the following locations:- Kamloops (All Nations Trust Company); - Port Alberni (Nuu-chah-nulth Economic Development Corporation); - West Vancouver (Tale'awtxw Aboriginal Capital Corporation); and,- Prince Rupert (Tribal Resources Investment Corporation).
ANTCO must be in good standing with the province- Monthly financial reporting; and quarterly reporting on loan application activity and status requirement met.
Aboriginal business seeking loans must submit: A loan application and business plan; satisfactory evidence that the intended business is likely to create permanent employment, evidence that the borrower's intended business is commercially viable and has reasonable prospects for success.
Select locations only.
$115,000 for administration; $500,000 year end grant from FY2015/16 is being expended in FY2016/17; and $363,000 for business loan program. (Province repays 40% of the principal of the Program Loans.)