Federal Government Announces New Funding For Indigenous Businesses

Saturday, 18 April 2020 13:17

More than $306 million will be allocated to Indigenous businesses, which will be provided through Aboriginal Financial Institutions and administered by the National Aboriginal Capital Corporations Association.

CANADA - The federal government announced new measures today to support Indigenous businesses amid COVID-19 pandemic.

Prime Minister Justin Trudeau says more than $306 million will be allocated to these businesses.

"This funding will be provided through Aboriginal Financial Institutions and administered by the National Aboriginal Capital Corporations Association. It will allow Indigenous businesses to access short term interest-free loans and non-repayable contributions, so they're better positioned to make it through and rebound after this crisis. Today's investment will help thousands of businesses bridge to better times,including many that are owned and run by Indigenous women."

Prime Minister Trudeau adds these businesses employ people right across the country, in small communities and big cities and create good jobs in a whole range of sectors.

He says today's investment is just the first step in helping Indigenous businesses, as they will have more to say soon on what else they'll do to help Indigenous businesses and the people who rely on them.

"Small business owners are at the heart of so many communities and this is a tough time, whether you own a store, a restaurant or are part of the hospitality sector. So we're going to be there for you. With this new investment and with measures like the Canada Emergency Business Account (CEBA), the wage subsidy and the Canada Emergency Response Benefit (CERB) we're focused on helping on you."

Prime Minister Trudeau also announced this morning the Canada-U.S border will stay closed to non-essential travel for another 30 days.

He added two planes arrived yesterday in Canada with N95 masks and coveralls for frontline workers and he says more shipments will be coming in this weekend and into next week with additional medical supplies.