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.