Indigenous Community Business Fund

Indigenous Tourism BC in partnership with Indigenous Services Canada and the Aboriginal Financial Institutions in BC are once again delivering a Tourism and Hospitality Fund through the Indigenous Community Business Fund.

The fund supports the operation of the businesses as well as costs to support the adaptation, planning and reopening of businesses.

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.

This fund will provide non-repayable grant contributions to First Nation owned businesses and microbusinesses in response to the economic impacts of COVID-19.

Who can Apply

Your community or collectives are eligible if the business:

• is First Nations, community-or collectively-owned business
• is located in the provinces of BC
• has been in operation since October 1, 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:
  • this may include applications to more than 1 federal program depending on the requested support

• First Nations, may apply for funding for 1 or more community-owned businesses.

Deadline

There are no submission deadlines. Applications for funding are accepted on an ongoing basis until all funding has been allocated.

Eligible Costs and Activities

Non-repayable contributions where business revenues have been affected by the COVID-19 pandemic will be considered for these reasonable operating costs:

• capital lease payments for existing equipment and machinery
• salaries and benefits, at the same rate as the Canada Emergency Wage Subsidy and only if ineligible for it
• utilities
• bank charges and interest payments
• professional fees
• monthly insurance payments
• rent or mortgage, only if ineligible for Canada Emergency Commercial Rent Assistance
• supply and delivery costs
• operating costs or capital expenditures related to adapting the business and services
• payments for regularly scheduled debt service of an existing debt that is not related to other federal COVID-19 financial support
• other reasonable applicable operating costs

Non-repayable contributions will also be considered for COVID-19-related costs associated with the adaptation, planning and reopening of a business such as:

• costs required to comply with provincial health regulations
• retraining
• marketing
• technology
• professional services
• planned maintenance and repairs the business is unable to complete due to cash flow
• other reasonable operating costs

Costs not eligible for non-repayable contributions include:

• any costs deemed not reasonable, expenses not associated with the operation, adaptation, planning and reopening of a business
• refinancing or repayment of an existing loan or debt resulting from other federal COVID-19 financial support
• costs of amortization and goodwill
• acquisition of buildings
• costs for services provided by a federal or provincial government
• loss of revenue

Assessment Process

Indigenous Tourism BC is working with the following Aboriginal Financial Institutions for the delivery of this fund:

• Tribal Resources Investment Corporation
• All Nations Trust Corporation
• Nuu-Chah-Nulth Economic Development
  Corporation
• Tale’awtxw Aboriginal Capital Corporation

Applications will be triaged for review by one of the Aboriginal Financial Institutions in the order they are received. They will be screened by one of the Aboriginal Financial Institutions for eligibility, using the criteria above, before proceeding to an assessment to determine the amount of eligible funding.

Decisions will be shared with applicants as they become available. Applicants who are unable to clearly demonstrate that they meet all recipient and cost eligibility requirements will be declined.

At any time during the intake and assessment process, Indigenous Tourism BC or Aboriginal Financial Institution may contact the applicant for additional information, including missing or incomplete documentation. ​Delays in responding to requests for additional information within 5 business days may result in a delayed or declined decision.

Confidentiality

All proprietary data, commercially sensitive information and potentially valuable results or ideas will be protected from unauthorized, inadvertent or untimely disclosure. Beyond the parties already mentioned above, confidential commercial information will not be shared without the applicant’s consent.

Reporting Requirements

Recipients will be required to submit periodic project reports and annual financial statements. Project reports will provide details on results and completion of deliverables.

Contact Us

Please contact the Indigenous Tourism BC office if you have any questions about the application.

Gail Joe
Phone: (604) 505-7762
Email: ​[email protected]

Paula Amos

Email: [email protected]

For more information about the Indigenous Community Business Fund, you can visit the Indigenous Services Canada​ website.

https://www.indigenousbc.com/corporate/covid-19/indigenous-community-business-fund/