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Aboriginal Business Investment Fund (ABIF)

Value

Up to 100% of eligible project costs to the ABIF maximum of $500,000

Description

The Aboriginal Business Investment Fund (ABIF) will provide eligible Indigenous community-owned businesses with up to $500,000 in funding for ventures that demonstrate social and economic benefits for their communities.

ABIF supports projects that increase:

  • employment opportunities for Indigenous people
  • local revenue streams for Indigenous communities
  • the economies of Indigenous communities

Eligible Applicants

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.

Eligible Expenses

The intent of the ABIF program is to invest in the capital elements of business initiatives:

  • Capital costs are costs associated with the acquisition, construction or enhancement of significant fixed assets including buildings, equipment and other tangible assets that will be of use or benefit for more than one financial year.
  • The projects must be close to starting operations or breaking ground for building projects within the funding year.

The projects must demonstrate long-term effects as follows:

  • increase the number of Indigenous community-owned businesses
  • increase the number of employment opportunities for Indigenous people
  • create or increase local revenue streams for Indigenous communities
  • strengthen the economies of Indigenous communities

Deadline Date

September 30, 2020