Show Me the Green

  • Province Grants
    • Ontario Renovation Grants
    • Ontario Energy Rebates
    • Alberta Renovation Grants
    • B.C. Renovation Grants
    • Manitoba Renovation Grants
    • Saskatchewan Renovation Grants
    • Nova Scotia Renovation Grants
  • Audience Grants
    • Canadian Seniors Homeowner Grants
    • Canadian Government Grants for Disabled Homeowners
    • First Time Home Buyer Grants Ontario
    • First Time Home Buyer Tax Credit
    • Down Payment Assistance Ontario
    • Ontario Renovates Program
    • First Time Home Buyer BC
    • First Time Home Buyer Alberta
  • Utility Rebates
    • BC Hydro Rebates
    • Fortis Rebates
    • Union Gas Rebates
    • Enbridge Rebates
    • Save On Energy Coupons, Rebates & Incentives
    • Hydro One Assistance Programs
    • Manitoba Hydro Rebates
    • Efficiency PEI Rebates
    • Newfoundland Power Rebate
  • Renovation Grants
    • Government Grants for Windows
    • Canadian Furnace Rebates
    • Insulation Rebates
    • Toilet Rebates
    • Home Energy Audit Ontario
    • Ontario Renovates Program
    • Secondary Suites & Granny Flats
  • Blog
You are here: Home / Grant / Aboriginal Business Investment Fund in Canada

Aboriginal Business Investment Fund in Canada

Projects for the economic development of Indigenous communities may be funded entirely or in part with capital costs by the Aboriginal Business Investment Fund (ABIF). These kinds of initiatives help Indigenous Peoples, and their communities achieve better social and economic outcomes.

Projects must be close to beginning operations or breaking ground during the fiscal year following funding in order to qualify for funding.

The consequences that applicants must show will last throughout time are:

  • boost the proportion of Indigenous-owned companies in the community
  • increase the number of jobs available to Native Americans
  • build or expand indigenous tribes’ native income sources
  • bolstering the indigenous communities’ economies

Indigenous Relations make funding decisions based on the outcomes of a competitive review procedure. These components of a strong application include:

  • a formal Resolution and other supporting documents that show the project has the community’s support
  • the ability to produce a net economic benefit, such as employment and income for the community
  • the shown balance between grant funds, commercial financing, management competence, and business skills on the project
  • viability of the proposed business opportunity over the long term
  • the project’s potential to result in spinoff business opportunities
Aboriginal Business Investment Fund in Canada..

Funding

A project for economic development owned by an Indigenous community may get funding from ABIF ranging from $150,000 to $500,000. That could represent up to 100% of eligible project costs. A grant from the ABIF may be combined with money from the government and businesses.

Suitable Candidates

Suitable ABIF applicants are Alberta-based Indigenous communities or corporations owned by Alberta-based Indigenous communities:

  • The planned firm or joint venture must be owned and controlled by communities to the extent of at least 51%.
  • Corporate bodies must be legitimate.
  • Applicants must meet the terms and conditions of any prior financing for Indigenous Relations.

An Indigenous community may only submit one ABIF proposal in any given funding year.

Eligible Expenses

The ABIF program’s goal is to finance the capital components of business endeavours.

Capital expenses are incurred while purchasing, constructing, or upgrading substantial fixed assets like buildings, machinery, and other tangible assets. They need to be beneficial for more than one fiscal year.

Unallowable Expenses

The expenses listed below are ineligible for ABIF funding:

  • Various sources occasionally obtained passive business income streams from these ventures, frequently without their material or active involvement (for example, projects that generate income from rent, royalties, dividends and capital gains)
  • Goodwill payments for services that are typically given gratis, such as honoraria for volunteer work in the community and maintenance and repair charges
  • Infrastructure expenses covered by other government funding sources or eligible for payment from them (for example, roads, rails and utility services)
  • services for economic growth and training
  • costs associated with projects that have previously been approved but which are unrelated to economic development

How to Apply?

Step 1: Review the instructions

For information on the rules and regulations of the programme, consult the ABIF Application Guidelines.

Step 2: Finish assembling your application.

The application materials must contain:

  • Grant Application Form for ABIF (PDF, 120 KB) – Please carefully review the application and complete it by explicitly outlining the business and scope of work, including a breakdown of each of the following:
  • budgetary projections or financing sources
  • a realistic schedule for completing project activities and milestones
  • a comprehensive business plan for continuing operations
  • project schedule if construction is necessary
  • The main component of the application is the thorough business plan. Details on the required content can be found in the ABIF Application Guidelines.
  • Community support – All candidates must show that their proposal has organizational support.
  • Documentation that supports a claim; evidence of partnerships.

Step 3. Submit your application materials.

Before intake closes, applicants must send one electronic copy of the whole application packet to [email protected]

Evaluation Process

Projects that successfully navigate a competitive evaluation process based on these criteria—community benefits, management risk, industry risk, and the financial risk for each application—will be awarded grants.

Evaluation occurs in two stages:

  • Each application will be evaluated separately by a cross-ministry panel of up to three people.
  • The top-scoring proposals that satisfy all the criteria and have the potential for financial viability will be advanced to a more thorough evaluation by the panel.

Each applicant will be informed of the funding decision by staff. Applicants may request a debriefing session to review the results of the comprehensive evaluation process.

Reporting

A brief narrative synopsis and audited financial statements are required of successful candidates. The summary may also contain the following information:

  • Project relevance of the pertinent capacity data in-depth results, difficulties, and triumphs, as well as lessons learned

The Alberta government reserves the right to follow up with the applicants to assess the project’s efficacy, including talks on best practices and advancement.

Deadline:

Applications for the ABIF for 2022–2023 are now being accepted. The deadline for applications is September 30, 2022.

Apply Now

Related Posts:

  • Best Grants for Indigenous Peoples in Canada
    Best Grants for Indigenous Peoples in Canada
  • Best Grants for Research in Canada
    Best Grants for Research in Canada
  • Aboriginal Grants for Starting a Business in Canada
    Aboriginal Grants for Starting a Business in Canada
  • Best Grants for Artists in Canada
    Best Grants for Artists in Canada
  • Small Business Grants in Northwest Territories, Nunavut and Yukon
    Small Business Grants in Northwest Territories, Nunavut and…
  • Best Environment Grants in Canada
    Best Environment Grants in Canada

Filed Under: Grant

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts:

  • Best Grants for Indigenous Peoples in Canada
    Best Grants for Indigenous Peoples in Canada
  • Best Grants for Research in Canada
    Best Grants for Research in Canada
  • Aboriginal Grants for Starting a Business in Canada
    Aboriginal Grants for Starting a Business in Canada

Recent Posts

Artist Manager Program Funding in Canada(1)

Artist Manager Program Funding in Canada

Zero Emission Vehicle Awareness Initiative in Canada

Zero Emission Vehicle Awareness Initiative in Canada

Alberta Civil Society Fund Program(1)

Alberta Civil Society Fund

Project Accelerator Grant Program in Canada(1)

Project Accelerator Grant Program in Canada

Local Food Infrastructure Fund in Canada(1)

Local Food Infrastructure Fund in Canada

Energy Innovation Program – Carbon Capture, Utilization and Storage RD&D Call Natural Resources Canada (NRCan)

Energy Innovation Program – Carbon Capture, Utilization, and Storage RD&D Call | Natural Resources Canada (NRCan)

Archives

Popular Topics

B.C. British Columbia Burglary Businesses Business Funding Calgary Canada Canadian Grants Circuit Breaker Claim climate change Commercial Environmental Commercial Environmental Rebates Community Foundation Grants Covid Dust E-Bikes Economy Energy energy saving Environment Evil Eye Gas Relief Rebate Global Warming Government Announces Home Home Improvements Home Insurance Homeowners ICBC Customers Insurance Intruders Kitchen Fire Nest Protect Network Ontario Ontario Francophone Pollution Rebate Red Deer Grants School Program Secondhand Smoke seniors Tax Wildfires

Copyright © 2023

  • Home
  • Blog
  • About Us
  • Contact
  • [email protected]