Deadline: 30-Sep-22
The Government of Alberta is inviting applications for the Aboriginal Business Investment Fund (ABIF) to Help Indigenous community-owned businesses capitalize on business development opportunities to improve socio-economic outcomes.
ABIF supports Indigenous communities by helping to fund costs associated with the acquisition, construction or enhancement of a tangible capital asset of a community-owned business initiative that are close to starting or expanding operations, or breaking ground for building projects within the funding year.
To get funding, projects should be close to starting operations or breaking ground within the fiscal year following funding.
- Applicants must demonstrate long-term effects that:
- Increase the number of Indigenous community-owned businesses
- Increase employment opportunities for Indigenous Peoples
- Create or increase local revenue streams for Indigenous communities
- Strengthen the economies of Indigenous communities
- Indigenous Relations bases funding decisions on the results of a competitive review process. A strong application has these elements:
- Demonstrated community support for the project that includes a formal Resolution and other supporting documentation
- The potential for generating net economic benefit, like jobs and community revenue
- Demonstrated management capacity and business expertise on the project
- Demonstrated balance of own-source equity, commercial financing and grant funding
- Long-term viability of the proposed business opportunity
- Potential for the project to generate spin-off business opportunities
Funding Information
ABIF provides between $150,000 and $500,000 to support an Indigenous community-owned economic development project. That could be up to 100% of eligible project costs. An ABIF grant can be stacked with other government and industry funding sources.
Eligibility Criteria
- Eligible ABIF applicants are Indigenous communities in Alberta or corporate entities owned by Indigenous communities located in Alberta:
- Communities must own and control 51% or more of the proposed business or joint venture.
- Corporate entities must be in good standing.
- Applicants must be in compliance with the terms and conditions of any previous Indigenous Relations funding.
- An Indigenous community may submit only one ABIF application in any given funding year.
For more information, visit ABIF.
For more information, visit https://www.alberta.ca/aboriginal-business-investment-fund.aspx#jumplinks-0