This program is for Aboriginal and Inuit persons in the Atlantic Region who are 30 years of age and under. The program is designed to assist clients in setting up a small business. Businesses assisted by the program must be majority-owned by Aboriginal or Inuit entrepreneurs.
All loans are life-insured.
Repayment terms are based on cash flow and on the life expectancy of the asset being financed. The maximum repayment term is 10 years. The interest rate on loans ranges from 12.75 percent to 14.75 percent. Applicants must meet an equity requirement of 10 percent of the capital cost. An application process fee of 1.5 percent f the approved loan amount is charged on approved deals.