This article is about the financial relief programs made available to Indigenous owned businesses who have been affected by the COVID-19 pandemic, accessible through the Federal Government.
The Government of Canada is providing $306.8 million in funding relief measures for Indigenous businesses to help small and medium-sized Indigenous businesses, and to support Aboriginal Financial Institutions that offer financing to these businesses.
- The funding will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit, and Métis businesses.
In addition to the relief measures for indigenous businesses, the Government of Canada is also providing $117 million in non-repayable financial contributions to help support operating costs for First Nation, Inuit and Métis community-or collectively owned businesses and microbusinesses whose revenues have been affected by the COVID-19 pandemic.
The COVID-19 pandemic has had an immense impact on individuals and businesses worldwide. As Canadians, we are extremely fortunate to live in a nation where the Federal and Provincial Governments provide so much financial support to their citizens.
It is important to remember that these programs are subject to review by the federal and provincial governing bodies for eligibility and program attributes. Because this pandemic is an evolving situation, there may be extensions or other programs made available in the future for individuals and businesses to access to ensure they are cared for.