AIIC can support your growing business with loan opportunities
AIIC provides interest-bearing loans to First Nation entrepreneurs for the purpose of establishing, acquiring, diversifying or expanding a business. In some cases, equity financing may also be available. Interest rates are competitive. Loans are generally for periods of up to 5 years.
- Loans to on and off-reserve businesses;
- Equipment loans;
- Loans to set up a new business;
- Loans to expand business
- Loans for working capital;
- Equity Financing;
- Life insured loans;
- Fixed or floating interest rates;
- Flexible repayment terms;
- Competitive rates/terms.
Applicants for financial assistance must:
- have a business plan which shows that their business will be profitable;
- contribute their own equity as a portion of the total financing of the business;
- have adequate collateral security;
- have an acceptable credit rating.
To be eligible for AIIC services, applicants must meet the following criteria:
- must be a Status Indian who has resided in Alberta for at least one year;
- if a corporation or partnership, the Status Indian must own at least 51% of any shares, participate more than 51% in profits, and above all, must be active in managing the business;
- The applicant’s head office must be in Alberta.
The following types of funding applications are generally ineligible for A.I.I.C financing services:
- personal, housing or consumer loans;
- farming, ranching or other agricultural ventures;
- feasibility studies;
- Investment properties.