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Business Equity Program (B.E.P.) is a partnership between
the Nuu-chah-nulth Economic Development Corporation (NEDC)
and Aboriginal Business Canada (ABC) in which NEDC delivers
the ABC Program to Vancouver Island clients.
The B.E.P. provides support to commercial
enterprises:
Existing Businesses
New Businesses
The maximum contribution in any area is
$50,000.
Eligibility
Participant eligibility is limited to Canadian
status and non-status First Nations, Inuit, Metis, associations,
partnerships or other legal entities on or off reserve, as
well the applicant is required to:
- be nineteen years or older
- reside and operate or propose to operate
the business on, or serviced from, Vancouver Island
- access term financing with each application
with the exception of applications for business planning,
feasibility studies and the implementation of a marketing
plan
The Application
Process
There are two ways to apply to the Business
Equity Pogram:
- at either of the NEDC offices (Port Alberni
or Cambell River)
- on-line at the ABC website: www.abc-eac.ic.gc.ca
The process through NEDC is as follows:
- contact your nearest NEDC office
- after meeting with a Business Development
Officer you will complete a Statement of Intent (SOI)
- NEDC may conduct a credit check
- the applicant will complete and submit
a business plan
- the business plan undergoes an in-house
analysis
- once accepted, the business plan is submitted
for approval to the delegated approval authority
- if the request for a contribution is
approved, the applicant will receive a Letter of Offer from
NEDC
A project is monitored for the life of the
agreement to ensure the client continues to meet their contractual
obligations and to determine the success of the project.
NEDC also delivers the full Aboriginal
Business Canada Program on Vancouver Island.
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