Aboriginal Business Investment Fund
$750,000.00
Grant
Description:
The Aboriginal Business Investment Fund (ABIF) can partially or completely fund capital costs for Indigenous community-owned economic development projects. ABIF is an initiative that improves social and economic outcomes for Indigenous communities by building partnerships and investing in economic opportunities.
Comments on Funding:
Aboriginal Business Investment Fund grants are a minimum of $150,000 to a maximum of $750,000 to support capital costs related to Indigenous community-owned economic development projects.
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Applicants must:
1. Be Indigenous communities in Alberta or corporate entities owned by Indigenous communities located in Alberta:
a. Communities must own and control 51% or more of the proposed business or joint venture.
b. Corporate entities must be in good standing.
c. Be in compliance with the terms and conditions of any previous Indigenous Relations funding.
2. An Indigenous community may submit only one ABIF application in any given funding year.
Application Steps:
Applicants must submit PDF format of the application package to ir.economicdevelopment@gov.ab.ca
Please keep the business plan and all necessary appendices under 100 pages.
Documentation Needed:
Applicants must submit:
1. Submit ABIF Grant Application Form including a detailed breakdown of:
a. estimated costs or funding sources
b. a reasonable timeline for carrying out project activities
c. project milestones
d. detailed business plan for ongoing operations
e. project plan if construction is required
2. Comprehensive business plan.
3. Additional Supporting Documentation & Proof of Community Support
a. letters of support from suppliers, customers or any other stakeholders that are significant to the project;
b. confirmation of other sources of financing such as bank financing, equity or other grants or contributions;
c. details of contributed equity or in-kind contributions that are proposed;
d. contracts or other financial commitments (i.e. copies of leases);
e. copies of any environmental assessments;
f. relevant documentation to show the proper authority (permit, lease, license, certificate, land designation,
environmental assessment, etc.) was provided to operate the business; historical financial statements for currently
operating businesses;
g. feasibility study, strategic plan, purchase or construction quotes, etc.;
h. evidence of franchise agreements, if applicable;
i. community support survey summary, if completed;
j. resumés or profiles of key management personnel, including contracted service providers;
k. corporate structure information and any documents related to any partnership arrangements and commitments; and
l. any other pertinent documents or information.
Other Things to Note:
Grants will be given to projects that successfully pass an evaluation based on these factors: community benefits, management risk, industry risk and the financial risk associated with each project.
About the author
Maurice
