First Citizens Fund (FCF) Loan

By mmuise

The First Citizens Fund (FCF) Loan provides funding to Aboriginal entrepreneurs residing in the Coast Salish Territory. The lifetime maximum one can borrow is $75,000, and 40% of the loan is forgivable.

Comments on Funding:

The terms of this loan are as follows:

• Borrow up to $76,125.00 minus fees
• A 1.5% borrowers fee applies for business client care services.
• Flexible amortization terms (2-10 years)
• Monthly, Semi-Annual and Annual payment terms available.
• 12% fixed rate of interest
• Businesses must be at least 51% Aboriginal owned/ operated.
• 15% minimum cash equity contribution required.
• The forgiveness of 40% of the principle amount borrowed. The forgiveness portion of 10% is deducted from the principle of the loan four times throughout the term of the loan, subject to the terms and conditions of the FCF Agreement.

Deadline: Continuous Intake

TACC provides financing to Aboriginal Entrepreneurs including Status, Métis, Inuit and Non-Status Indians residing in the Coast Salish Territory.

Application Steps:


Documentation Needed:


Other Things to Note:


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