The provincial government announced June 16 the launch of a $1 billion loan guarantee program for First Nations-led commercial projects.
The First Nations Equity Financing Program is “intended to address common barriers to capital access, including limited credit history, insufficient collateral and high borrowing costs” faced by Indigenous individuals, groups and enterprises, according to a statement from the Ministry of Finance.
The program will support projects with a loan guarantee of up to 20 per cent of the project’s total capital costs; the minimum loan guarantee will be $5 million (for a $25 million project) while the maximum will be $400 million.
The ability to first secure an equity
→ Continue reading at BIV