Financing Program

NEDC provides business funding for our clients by carefully selecting the most suitable loan and contribution sources based on the eligibility and individual details of each project. We offer several loan programs, each with their own rules.

One Application provides you access to all of the funds that are available. You do not need to understand the various programs. This is extra information for interested individuals. Our Business Development Officers will create the best financing package for you based on you eligibility and fund availablity (most non-repayable funds are first come, first serve).

Below are some of the common Programs NEDC accesses for eligible clients. Please keep in mind being eligible for NEDC funding does not guarantee eligibility for every single program NEDC offers. Many programs have specific criteria we have not control over. For informational purposes only. You do not need to understand how all these funds work to apply. **Some programs can be combined with other programs (as long as it fits the other programs criteria.)

Our Business Development Officers are experts on the many sources of financing and contributions and will work with you to create the best package for your needs.

Eligibility: Aboriginal ancestry (First Nations, Metis or Inuit) within NEDC service area.

Aboriginal Business Loans

NEDC has general loan funds available with flexible terms, interest rates, repayment options, and requirements.

NEDC’s Business Development Officers (BDO) have expertise in developing the best funding package for you.

  • More General Loan Information

    NEDC offers several loan programs, each with their own rules. ** Some programs can be combined with other programs (as long as it fits the other programs criteria.) Below are details on some of the funds available.

    NEDC’s Business Development Officers (BDO) have expertise in developing the best funding package for you. Contact them today to discuss your business financing needs (1.866.444.6332 or in Port Alberni 250.724.3131).

    Only one loan application required to access all loans: NEDC Loan Application

    NEDC Loan Fund
    NEDC has general loan funds available with flexible terms, interest rates, repayment options, and requirements.

    Other funds available:
    Several other loan funds are available, each with their own requirements:

    • Entrepreneurs with Disabilities Loan Fund
    • Forestry Loan Fund
    • Fishing Loan Fund
    • Youth Loan Fund

    Contact a Business Development Officer at NEDC to discuss your project today. CONTACT US (Click Here)

    Loan Eligibility
    To be eligible for a loan through NEDC you must either be:

    • An Aboriginal person (status, non-status, Metis or Inuit/Innui) who reside and operate or propose to operate their business on Vancouver Island, OR
    • A Nuu-chah-nulth tribe*, OR
    • A member of a Nuu-chah-nulth tribe within reasonable monitoring distance.

    All applicants must be 19 years or older

    *For the sole purpose of NEDC, the term “Nuu-chah-nulth” refers to those Nuu-chah-nulth Tribes that are members of the Nuu-chah-nulth Tribal Council. See “About Us” page for more information on the Nuu-chah-nulth Territory.

Eligibility: Aboriginal ancestry (First Nations, Metis or Inuit) within NEDC service area.

First Citizen’s Fund (FCF)

An FCF loan offers a 40% contribution to the principal of your loan as you pay it off.  The lifetime maximum you can borrow is $75,000 plus the administration fee (1.5%).

Limited funds available.

  • More FCF Information

    An FCF loan offers a 40% contribution to the principal of your loan as you pay it off. The lifetime maximum you can borrow is $75,000 plus the administration fee (1.5%).

    The terms of this loan are as follows:

    • Borrow up to $76,125.00 (including borrows fee below)
    • A 1.5% borrowers fee applies for business client care services.
    • Flexible amortization terms (2-10 years) – must make sense for the business
    • Flexible payment terms: Semi-monthly, Monthly, Semi-Annual and Annual payment terms available – must make sense for the business
    • 12% fixed rate of interest
    • Businesses must be at least 51% Aboriginal owned/ operated.
    • 10% minimum equity required
    • Every time 15% of the loan principle is paid off, a contribution of 10% of the principle is applied to the loan.

Eligibility: Members of BC First Nations

NRT Equity Match

The NRT Equity Match assists BC First Nation Entrepreneurs (including Bands) meet their equity requirements by providing a non-repayable contribution towards the applicants equity.

Limited funds available.

  • More NRT Information

     NRT (New Relationship Trust) Equity Match

    The NRT Equity Match assists BC First Nation Entrepreneurs (including Bands) meet their equity requirements by providing a non-repayable contribution towards the applicants equity.

    • Dollar for dollar – every dollar the applicant contributes will be matched
    • Maximum $5,000 (Bands may be eligible for up to $25,000)
    • Equity match must not exceed 25% of the eligible project costs
    • Must be accessing financing from NEDC
    • No additional application necessary

Eligibility: Aboriginal ancestry (First Nations, Metis or Inuit) within NEDC service area.

Business Equity Program

Eligibility: Aboriginal ancestry (First Nations, Metis or Inuit) within NEDC service area.

Contributions to assist in the capital, marketing and operating costs of establishing, expanding and acquiring a business.

Limited funds available.
Expenses prior to a signed contract are ineligible.

  • More BEP Information

    Please note: BEP is a need based program.

    NOTE: *NEDC has merged all application forms into one, so there is now only one form to apply for all programs. You can also apply online now or you can download the Word and PDF application forms.  Go to Forms
    **This program is sometimes referred to as Aboriginal Business Canada (ABC), Aboriginal Business Development Fund (ABDF), or Aboriginal Business and Entrepreneurship Fund (ABEF).

    Contributions to assist in the capital, marketing and operating costs of establishing, expanding and acquiring a business:

    • Up to $99,999 for individuals*
    • Up to $250,000 for community owned businesses*
    • Up to 40% contribution toward eligible startup and 3 months of operating costs or 30% toward eligible acquisition or expansion costs
    • minimum 10% cash equity required
    • commercial financing required (NEDC may be willing to provide financing as well)
    • ineligible costs include (not exhaustive): land & building, owners wages, unnecessary costs, personal expenses, pre-committed expenses
    • ineligible projects include (not exhaustive): tobacco or alcohol related activities, sexually exploitative or Explicit operations, gaming-related businesses, and pay-day loan and similar type businesses.

    *The maximum contribution is rarely approved and delivery agents may impose a maximum contribution lower than listed above.  NEDC limited contributions to $25,000 for individuals and $50,000 for community owned businesses in the 2018-2019 fiscal year.

    Contributions up to 75% for planning and support activities including::

    • business plans,
    • feasibility studies,
    • environmental studies for commercial development
    • business valuation for business acquisitions
    • business support (i.e. setting up financial reporting requirements, implementation services, etc.)
      financing not required

    The program can provide contributions for marketing initiatives:

    • must provide a detailed marketing plan,
    • maximum 60%,
    • no financing required.

    Eligibility:

    • Canadian Status & non-status First Nations OR Inuit OR Metis – WITH A STATUS CARD
    • 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.

    NEDC’s Application Process:

    • Complete an application form and submit to NEDC with any supplemental information and/or documents (ex. status card and identification, resume, financial projections, household budget, etc).
    • Complete and submit a business plan and submit any additional information requested by your BDO.

    *Please remember to leave yourself enough time to complete the process and note that costs that are already committed to are not eligible expenses in this program.

    **Feel free to contact NEDC and discuss your plan with a Business Development Officer (BDO) and any potential information they may require.

    Upon receipt of all requested information, your BDO will analyze your project and make a recommendation 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.