Province Providing Capital to FN Businesses

Province Providing Capital to FN Businesses

Tuesday, December 21, 2010 at 14:25

First Nations businesses needing capital to grow their companies will soon have a place to access that money.

The provincial government is launching a $3 million loan program in the new year for businesses that are 51 per cent owned by First Nations.

First Nations and Metis Relations Minister Ken Cheveldayoff says the government has consulted extensively with the First Nations community on this program and has heard that businesses are most in need of loans in the range of $100,000 to $750,000.

Loans can be repaid with future profits.

Westcap Management, a company which runs a business ready training program for Aboriginal communities, will be managing the program.