Support for Indigenous businesses that do not qualify for other Government of Canada COVID-19 relief measures.
What is the Indigenous Community Business Fund?
This fund will provide $117 million in non-repayable financial contributions to help support operating costs for First Nation, Inuit and Métis community-or collectively-owned businesses and microbusinesses whose revenues have been affected by the COVID-19 pandemic.
The fund seeks to provide support for businesses that do not qualify for other Government of Canada COVID-19 relief measures.
It is intended to relieve financial pressure and allow these businesses and microbusinesses to strengthen operations and support their viability during the pandemic, with the goal of positioning them for recovery.
How Does it Work?
The fund has 2 streams:
- Stream 1: Funding will be transferred directly to communities and collectives to immediately support their COVID-19 economic priorities. No applications are required for stream 1 funding.
- Stream 2: Funding will be proposal-based. Applications must be submitted by the community or collectives on behalf of the business.
There are no submission deadlines. Applications for funding are accepted on an ongoing basis until all funding has been allocated.
Who is Eligible?
Your community or collectives are eligible and can apply for stream 2 funding if the business:
- Is First Nations, Inuit or Métis community-or collectively-owned, and is located in the provinces
- Has been in operation since October 1st 2019
- Has either incurred a negative financial impact due to COVID-19 or that financial support will prevent layoffs, bankruptcy or permanent closure
- Has been solvent, financially viable, and not declared bankrupt prior to the economic disruptions associated with COVID-19
- Currently operates as a for-profit entity and expects to continue to operate with a reduction in revenues from the previous year over the coming months as a result of COVID-19 in line with the terms of the Canada Emergency Wage Subsidy
- Has previously applied for federal business support and been declined, in whole or in part, or does not qualify under business support eligibility criteria
A First Nations, Inuit or Métis community or collective may apply for funding for one or more community-owned businesses. Businesses in the territories must apply to the Northern Business Relief Fund.