Private Investment Supports Indigenous Entrepreneurs

NEDC Secures $3 Million Private Investment to Support Indigenous Entrepreneurs on Vancouver Island

Believed to be the first private debt investment made directly into an Indigenous Financial Institution in Canada.

Port Alberni, B.C. – The Nuu-chah-nulth Economic Development Corporation (NEDC), one of Canada's longest-standing and largest Indigenous Financial Institutions, has received a $3 million impact investment, structured as a community bond investment, from Dave Marcus, entrepreneur and Founder of AyA Kitchens and Unit E Investments Ltd. This is believed to be the first time a private investor has made this type of direct investment into an Indigenous Financial Institution (IFI) in Canada.

At an average loan size of $50,000 to $75,000, the investment will fund an estimated 30 to 50 loans to Indigenous-owned small businesses across Vancouver Island, supporting start-ups, expansions, and community development projects in sectors including tourism, seafood processing, technology, forestry, and retail. NEDC manages a loan portfolio of over $100 million with an average repayment rate of 98%.

"Indigenous business on Vancouver Island is growing at a pace we have never seen before, and NEDC’s goal is to continue to grow with it," said Al Little, General Manager of NEDC. "This investment builds on what we have done for 40 years - providing affordable loans alongside free business coaching and advisory support to Indigenous entrepreneurs."

“We have been very impressed by the NEDC team and their track record of providing loans and support to indigenous entrepreneurs on Vancouver Island. When we learned they had more demand for loans than they could satisfy, we worked together to come up with a model that we hope will not only provide additional capital for NEDC but a model for other Indigenous Financial Institutions to grow their lending base,” said Dave Marcus, President of Unit E Investments Ltd.

Demand for Indigenous business lending continues to accelerate across Vancouver Island. NEDC designed this investment opportunity as part of its long-term growth strategy — to ensure that as more Indigenous entrepreneurs step forward, affordable and flexible capital is there to back them.