Indigenous Business Financing Program (IBFP)
In collaboration with Aboriginal Impact Capital, Two Rivers delivers the Indigenous Business Financing Program (IBFP), tailored for businesses that meet the qualifying criteria.
The IBFP supplements a comprehensive financial solution package which combines loan offerings and equity options. Marketing and business support projects are not required to have a loan component for this program.
Program Objectives:
- To bolster the count of sustainable Indigenous-owned businesses within the Two Rivers service area.
- Facilitate capital access by substantially reducing the debt that the owners need to accumulate for business start-ups, expansion, or acquisition.
- To foster an environment for entrepreneurship.
Funding Information:
- Individual-owned businesses can receive funding up to $99,999.
- Community-owned businesses can receive funding up to $250,000.
Eligibility Criteria:
- The business must be at least 50.1% owned by an Indigenous entrepreneur.
- At minimum, one Indigenous owner should be actively involved in daily business operations, equipped with the necessary skillset, training, and know-how to effectively manage the business.
- Business premises must be situated within the Two Rivers service area.
- An minimum cash investment (equity) amounting to at least 10% of project costs is required.
Non-Eligible Costs:
- Passive investments such as real estate (including apartment buildings and rental housing units) or any business managed by a third party on behalf of the owner.
- Business categories such as liquor stores, gambling establishments, tobacco retail stores or manufacturing units, pawnshops, or payday loan companies.
- Any costs pertaining to assets that could be used for personal purposes, like cars or pick-up trucks, are not covered.
