- 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.
- 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