Entrepreneur Equity Match Initiative

OBJECTIVES

    • To assist membership from the Citxw Nlaka’pamux Assembly (CNA) Participating Bands by providing an equity matching initiative of up to $10,000 per business venture. Eligible projects include establishing, modernizing or expanding a CNA Participating Band member-owned business in British Columbia. Ineligible costs include, but are not limited to; refinancing debt, debt consolidation, business planning and/or feasibility studies.

 

    • The CNA-EEMI will be available from the All Nations Trust Company, an aboriginal-owned financial institution based in Kamloops, BC.

 

    • To leverage CNA-EEMI funding through entrepreneur equity and ANTCO debt-financing for new or expanding business projects.

 

  • The EEMI is intended to promote, capacity development, employment creation and community impacts, priorities or benefits.

CRITERIA

    • Up to $10,000 in matching equity available per project.  Businesses must be at least 51% owned by the CNA Participating Band member. 

 

    • Only one project will be approved per member in a lifetime. 

 

    • The CNA-EEMI component cannot be greater than 25% of the total project costs.

 

    • The matching member equity must be cash equity. 

 

    • Equity-matching is conditional on ANTCO approving a term loan (debt-financing) for the member-owned business

 

    • Once ANTCO approves the business loan application for the Participating Band member with the inclusion of CNA-EEMI in the loan summary, the following steps will be taken:

 

    • ANTCO will forward the approved loan summary to the CNA once completed.

 

    • The CNA will submit the funds to ANTCO in a timely manner with the goal of not hindering the business start-up of the entrepreneur.

 

  • Once the CNA-EEMI funds are received, ANTCO will disburse the loan proceeds utilizing ANTCO’s standard disbursement procedures.

For more information please contact:

Dale Jackson, Financial Services Manager

Jennifer Brennan, Financial Services Officer

All Nations Trust Company

520 Chief Eli LaRue Way, Kamloops BC V2H 1H1

Tel: 778.471.4110, Toll Free: 1.800.663.2959, Fax: 250.372.2585