The First Citizens’ Fund (FCF) is a perpetual fund that was established by the Government of British Columbia in 1969, with an initial allocation of $25 million. In 2001, the Government of British Columbia doubled the existing value of the fund, and the First Citizens’ Fund is now approximately $72 million.
The interest earned by the fund each year provides money to enhance economic development, cultural, social and educational opportunities for North American Aboriginal people (status, non-status, Métis and Inuit) living in British Columbia.
The First Citizens’ Fund currently supports seven program areas:
The New Relationship Trust (NRT) has developed and implemented the Equity Matching Initiative. This initiative will assist BC Aboriginal Entrepreneurs with equity-matching funds up to $5,000, modernize or expand a business in BC.
NRT has partnered with All Nations Trust Company to deliver the equity matching funds at ANTCO's service area to Aboriginal Business projects.
This Equity Matching Initiative will assist entrepreneurs in meeting their equity requirement of 10-15% for business loans. Eligible applicants include Status and non-Status or Band owned projects that have presented a viable business opportunity with confirmed equity, collateral, and a satisfactory business plan.
Applications and assessment for the Equity Matching Initiative will be in concurrence with the business loan application, no need to make an additional application.
For further information, please contact us.
In a special agreement with “Aboriginal Affairs and Northern Development Canada” and the “National Aboriginal Capital Corporation Association” All Nations Trust Company is recognized as an “External Delivery Organization” for the Business Equity Fund (BEF).
To be eligible for support, an applicant must be a Canadian Aboriginal individual or a Canadian corporation, partnership, association or other legal entity that is majority-owned and controlled by Canadian Aboriginal people. Cases where Aboriginal communities have a minority interest in a partnership or joint venture can be supported. In these situations, eligible costs will be prorated based on the level of Aboriginal ownership and control in the venture. Any agreement to support the venture must be with the Aboriginal proponent.
A Canadian Aboriginal individual is a person who is one of the following:
Aboriginal entrepreneurs and communities that are proposing to establish a business, acquire a business or expand an existing business, are eligible for support under the program.
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Your loan application should clearly answer these 5 questions: