Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697635993723.pdf (Australia)
Senate Finance and Public Administration Legislation Committee ANSWERS TO QUESTIONS ON NOTICE Supplementary Budget Estimates 2016 - 2017 Prime Minister and Cabinet Portfolio Department/Agency: Department of the Prime Minister and Cabinet Outcome/Program: Outcome 2: Indigenous Affairs Topic: Business Development and Assistance Program Senator: Dodson, Patrick Question reference number: 228 Type of question: Written Date set by the committee for the return of answer: 2 December 2016 Number of pages: 2 Question: 1.
In reference to the Business Development and Assistance Program.

Is it correct that the Minister has appropriated a portion of that Program?

If so, how much?

2.

What benefit will there be for Indigenous people in relation to this change?

3.

Does the IBA set targets for the number of different types of loans it gives each year?

4.

What are those targets?

For home loans?

For business loans?

Answer: 1.


In 2016-17, Indigenous Business Australia (IBA) will receive $36,786,000 for its Business Development and Assistance Programme.

This is consistent with funding in previous years.

The difference in the 2016-17 financial year is that part of this funding is being delivered to IBA through a grant funding agreement under the Department of the Prime Minister and Cabinet’s (PM&C) Indigenous Advancement Strategy.
The grant is valued at $23,086,000 and is for the delivery of business support services (including loan administration) for the 2016-17 year only.

The remaining $13,700,000 (which is lending capital) has been appropriated to IBA.

2.

The 2016-17 funding arrangement has allowed IBA and PM&C to work together to address technical issues and ensure continuity of service for Indigenous entrepreneurs.
Delivering the funding through a grant model ensures that Indigenous entrepreneurs at all stages of the business journey will continue to receive the capability-building services and advice they need.

The funding arrangement also ensures that support services will better align with the exciting growth opportunities being created by the Commonwealth Government, including through the Indigenous Procurement Policy.

1 3.

Yes.

4.
1 3.

Yes.

4.

IBA business loans KPI is to issue 75 loans in 2016-17, of which 50 are to go to new customers.

For home loans, IBA’s KPI is to issue 530 new home loans with an aggregate value of $160 million in 2016-17.

2