Sponsoring Agency: Nishnawbe Aski Development Fund
Type of Fund:
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/30/2021
Size of the Fund: Less than USD $50,000
NADF and Futurpreneur Canada have partnered to launch a new program – the Aboriginal Youth Entrepreneurship Program (AYEP) – to support the establishment and growth of youth owned businesses in NADF's service area (Nishnawbe Aski Nation, Treaty 3, or Robinson-Superior 1850).
The Aboriginal Youth Entrepreneurship Program offers promising young entrepreneurs access to coaching, financing, and mentoring to help them launch their own businesses.
Participants will:
• be introduced to NADF and Futurpreneur and the NEW Aboriginal Youth Entrepreneurship Program
• learn about the eligibility requirements to access up to $20K in financial support to help youth launch a business
• learn about the AYEP Registration and Application processes
• learn about the free tools and resources available, including Futurpreneur's Business Plan Writer and Cash Flow Template
• participate in an interactive Q&A with NADF and Futurpreneur
Program Highlights
• Up to $20,000*
o up to $17,500 in the form of a repayable loan
o up to $2,500 in the form or a non-repayable grant
the grant portion will assist the entrepreneur to establish a financial record keeping system (cloud based, software, or outsourcing)
• 0% equity requirement
• 6.2% interest
• 60 month term
o Interest only payments in Year 1
• Early repayment, no penalty
• Matched with an expert mentor who will provide business advice, support and encouragement during the first 2 years of operation
Applicant Eligibility
Aboriginal Youth (18-39 years)
• First Nations
• Metis
• Inuit
Project Eligibility
• New small business or New business established less than 12 months
• Must be a wholly-owned or majority-owned Aboriginal business
• Business must be based and operating in NADF's service area (Nishnawbe Aski Nation, Treaty 3, or Robinson-Superior 1850), including First Nations, urban and rural communities
• The business must fall within specified industry guidelines in order to be approved for financing.
More information at: http://www.nadf.org/youth-entrepreneurs
