Skip to content

Indigenous Small Business Support Loans from the Ontario Government

Indigenous Small Business Support Loans from the Ontario Government

June 22, 2020

BACKGROUND

The government of Ontario is providing up to $10 million to Indigenous-owned small and medium sized businesses to help them with much needed capital as the province begins to safely and gradually reopen the economy. 

Loans of up to $50,000 will be available to businesses that are either ineligible for, or unable to access, existing federal and provincial COVID-19 response initiatives for small businesses.

Full Release: https://news.ontario.ca/mirr/en/2020/06/ontario-supporting-indigenous-owned-businesses-during-covid-19.html

KEY-POINTS

  • The funding is being delivered through the Support for People and Jobs Fund.
  • Loans will be available through Aboriginal Financial Institutions.
  • Up to 50% of each loan will be in the form of a non-repayable grant, with no interest due on the loan portion until December 31, 2022.
  • Businesses may use these funds to cover general expenses such as payroll, rent, utilities and taxes.
  • They may also be used towards increasing production capacity, developing new products, moving to online marketing, or to make improvements to accommodate social distancing requirements, such as the installation of plexiglass barriers.

ELIGIBILITY

Small businesses who are currently ineligible or unable to access existing COVID-19 support measures delivered federally or provincially.

HOW TO APPLY

For financial advice and to speak with a Business Support officer with the Nishnawbe Aski Development Fund (NADF), go here.

If you do not fall under the NADF catchment area, you can find a list of the list of local Aboriginal Financial Institutions here for the one nearest you.

Download PDF

Stay updated.

Subscribe to be notified when new updates are available.