April 26, 2021, Ottawa, ON – The National Aboriginal Capital Corporations Association (NACCA) welcomes the 2021 Budget’s significant investment in Indigenous entrepreneurs. “We commend Canada for recognizing the crucial role of Indigenous entrepreneurs in sustaining thriving communities, and are grateful for the funds the federal government has entrusted to NACCA and the network,” states Jean Vincent, Chair of NACCA’s Board. “The investments we make now will help equip a new generation of Indigenous businesses and economies to thrive and prosper.”
Budget 2021 includes additional investments of $42 million over three years in NACCA’s Aboriginal Entrepreneurship Program, which assists business owners seeking to access capital from the network of Aboriginal Financial Institutions (AFIs). The new funds will also ensure that the AFI network will be ready to issue loans under the Indigenous Growth Fund, a $150 million fund launching later this year. Together, the expanded program and Indigenous Growth Fund will provide Indigenous small- and medium-sized businesses with access to the business capital they have long sought, but too often could not obtain from mainstream lenders.