JEDI — Indigenous Business Accelerator Program
Highlights
The Indigenous Business Accelerator Program is designed specifically for businesses like yours. This 10-week program offers weekly modules to enhance your business and entrepreneurship skills. You will receive resources and templates that can be directly applied to your business. Additionally, you will have the support of a dedicated mentor who has been a successful entrepreneur.
By participating, you will gain access to instruction in business fundamentals, including financial management and marketing. You will also benefit from networking events, development resources, and perks such as free tools and discounts. The program connects you to the greater startup ecosystem, providing a customized business support plan and one-on-one time with key resources like research and development organizations. This program is supported by the Government of Canada, the Government of New Brunswick, and multiple industry partners, ensuring you have the backing you need to succeed.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 3% per annum.
Eligible Expenses:
- Equipment purchases.
- Leasehold improvements.
- Working capital.
- Marketing and promotional expenses.
- Research and development costs.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Debt refinancing.
- Dividends or bonuses to owners or shareholders.
Fees:
- Application Fee: $150.
- Processing Fee: 1% of the loan amount, deducted from the loan disbursement.
- Late Payment Fee: 5% of the overdue amount.
Qualifications
- Must be an existing or Community-owned business.
- Must be located in New Brunswick.
Must be an Indigenous-owned business.
Disqualifications:
- Businesses not owned by Indigenous individuals or communities.
- Businesses not located in New Brunswick.
Description
The Indigenous Business Accelerator Program is designed to help your business grow. This 10-week program offers weekly modules to improve your business and entrepreneurship skills. You will receive resources and templates that you can use directly in your business.
You will also get a dedicated mentor who will guide you through the program. This mentor is an experienced entrepreneur who understands your industry. The program includes networking events where you can meet other business owners and industry experts.
Participants benefit from instruction in business fundamentals, such as financial management and marketing. You will work on cohort projects to advance your company. The program provides free tools and discounts, and connects you to the greater startup ecosystem. You will receive a customized business support plan and advice on raising capital. This initiative is supported by the Government of Canada, the Government of New Brunswick, and various industry partners.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (last two years)
- Proof of Business Registration
- Identification Documents (e.g., driver's license, passport)
- Tax Returns (last two years)
- Any relevant permits or licenses
Complete the Application Form:
- Visit the program's official website.
- Download or access the online application form.
- Fill out all required fields accurately.
Prepare a Business Proposal:
- Outline your business goals.
- Explain how the program will benefit your business.
- Include a detailed budget and timeline.
Submit the Application:
- Attach all required documentation.
- Ensure your business proposal is included.
- Submit the application through the specified channel (online portal, email, or mail).
Attend an Information Session:
- Register for an upcoming session.
- Participate to gain insights and ask questions.
Schedule an Interview:
- If required, book an interview with a program representative.
- Prepare to discuss your business and application in detail.
Follow Up:
- Monitor your email and phone for any communication from the program.
- Respond promptly to any requests for additional information.
Review and Sign Agreement:
- If approved, carefully review the terms and conditions.
- Sign the agreement to officially join the program.
Begin Program Participation:
- Attend all required sessions and workshops.
- Engage with your assigned mentor.
- Utilize the resources and tools provided.
Track Progress and Report:
- Keep records of your progress.
- Submit any required reports or updates to the program administrators.