JEDI — Aboriginal Development Fund — Business and Entrepreneurship Development
Highlights
The JEDI Aboriginal Development Fund (JADF) is designed to support your business's growth and development. This program offers up to 50% reimbursement for various business planning costs, with a maximum contribution of $8,000. This funding can be used for business plans, marketing plans, management training, mentoring programs, and more.
Key Benefits:
- Financial Support: Up to 50% of planning costs covered.
- Maximum Contribution: Up to $8,000 for business development.
- Flexible Use: Funds can be used for business plans, marketing, training, and conferences.
Applying for this program is straightforward, and approval can significantly boost your business's strategic planning and growth. With limited funding available, it's best to apply soon to take advantage of this valuable opportunity.
Financing Details
Type of Financing: Reimbursement Basis
Repayment Terms and Interest Rates:
- No repayment terms or interest rates, as this is a reimbursement program.
Eligible Expenses:
- Business plans (start-up or expansion)
- Marketing plans
- Management training
- Mentoring programs and business support
- Seminars and workshops on specific business topics
- Entrepreneurship development
- Conference attendance
Ineligible Expenses:
- Regular salaries and expenses
- Cost of management, administration, communications, or evaluations of the proposed initiative
- Cost of land, general use of vehicles and vessels, or inventory costs
- Costs incurred prior to the date of receipt of the proposal by JEDI Inc.
Fees:
- No fees associated with the program
Qualifications
- Must be an entrepreneur or an existing business.
- Must be located in a First Nation community in New Brunswick.
Must be involved in business or community economic development planning.
Disqualifications:
- Costs incurred prior to the date of receipt of the proposal by JEDI Inc.
- Regular salaries and expenses.
- Cost of management, administration, communications, or evaluations of the proposed initiative.
- Cost of land, the general use of vehicles and vessels, or inventory costs.
Description
This program is designed to boost economic growth in First Nation communities in New Brunswick. Your business can receive funding to support various aspects of business and community economic development.
For Community Economic Development, the program offers up to 50% of total planning costs, with a maximum of $16,000. This can help you plan and execute projects that benefit your community.
For Business/Entrepreneurship Development, you can get up to 50% of total planning costs, with a maximum of $8,000. This funding can be used for:
- Business plans (start-up or expansion)
- Marketing plans
- Management training
- Mentoring programs and business support
- Seminars and workshops on specific business topics
- Entrepreneurship development
- Conference attendance
The funding is provided on a reimbursement basis, meaning you need to cover the costs upfront and then get reimbursed. However, there is a 2-month reach-back clause, allowing you to claim costs incurred within the past two months.
This program is a great opportunity to get financial support for planning and developing your business, helping you grow and succeed.
Program Steps
Complete the Online Application Form: Visit the JEDI website and fill out the JADF Online Application Form.
Prepare Required Documentation: Gather the following documents to support your application:
- Business Plan (for start-up or expansion)
- Marketing Plan
- Management Training Plan
- Mentoring Program Details
- Seminar and Workshop Outlines
- Conference Attendance Justification
Submit Supporting Documents: Upload or attach the prepared documents to your online application form.
Review and Submit Application: Double-check all entered information and attached documents for accuracy. Submit the completed application form.
Wait for Approval: The JEDI team will review your application. They may contact you for additional information or clarification.
Receive Approval Notification: If your application is approved, you will receive a notification detailing the next steps.
Incur Eligible Costs: Begin incurring eligible costs as per the approved application. Remember, no costs should be incurred until JADF approval, except for costs within the 2-month reach-back clause.
Submit Reimbursement Request: After incurring costs, submit a reimbursement request to JEDI with proof of expenses.
Receive Reimbursement: Upon approval of your reimbursement request, JEDI will disburse funds as per the agreed terms.