TACC Business Equity Program
Highlights
This program is tailored for Aboriginal entrepreneurs in the Coast Salish territory. It offers non-repayable contributions to help you start, expand, or acquire a viable business. You can receive up to $99,999 for individual or incorporated businesses, and up to $250,000 for community-owned businesses. These funds can be used for business plans, marketing, and other essential business support services.
Why apply?
- Non-repayable contributions: Unlike loans, you don't have to pay this money back.
- Significant funding: Up to $250,000 for community-owned businesses.
- Comprehensive support: Funds can be used for various business needs, including capital and marketing.
What's in it for you?
- Financial boost: Helps supplement your existing equity and finance portions.
- Ease of qualification: Designed specifically for Aboriginal entrepreneurs, making it easier to qualify.
- Business growth: Provides the necessary funds to help your business thrive and expand.
Applying for this program can significantly enhance your business's financial stability and growth potential.
Financing Details
Type of Financing: Non-Repayable Contribution
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates, as this is a non-repayable contribution.
Eligible Expenses:
- Eligible capital expenses
- Business support services such as business plans and marketing
- Starting, expanding, or acquiring a viable business
Ineligible Expenses:
- The funds cannot be used for personal expenses or any non-business-related activities.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be an Aboriginal entrepreneur.
- Business must be located in the Coast Salish territory.
- Must be applying for funding in conjunction with other financing.
- Must have a viable business plan.
- For individuals and incorporated businesses, funding up to $99,999 is available.
- For community-owned businesses, funding up to $250,000 is available.
- Must be a BC First Nation community-owned business or a BC First Nation individual entrepreneur to qualify for the NRT Equity Match Grant.
Must apply for the NRT Equity Match Grant in conjunction with a TACC Loan.
Disqualifications:
- Businesses not located in the Coast Salish territory.
- Applicants seeking standalone funding without other financing.
- Non-Aboriginal entrepreneurs.
- Businesses without a viable business plan.
- BC First Nation businesses or entrepreneurs not applying for a TACC Loan alongside the NRT Equity Match Grant.
Description
The Business Equity Program (BEP) offers non-repayable contributions to help you start, expand, or acquire a business. This means you don't have to pay the money back. You can receive up to $99,999 if you are an individual or incorporated business, and up to $250,000 if your business is community-owned.
You can use this funding for eligible capital and business support. This includes things like business plans, marketing, and other related services. The goal is to help your business grow and succeed.
To qualify, you need a viable business plan and other financing in place. This program is a great opportunity to get the support you need without the burden of repayment.
Program Steps
Download Application Forms: Visit the TACC website and download the necessary application forms for the Business Equity Program (BEP).
Prepare Documentation: Gather the following documents to support your application:
- Detailed business plan
- Financial statements
- Marketing plan
- Quotes for capital expenses
- Proof of other financing in place
Complete Application Forms: Fill out the BEP application forms accurately. Ensure all required fields are completed.
Review Eligible Costs: Refer to the BEP F008 Detailed Eligible Costs document to ensure your expenses qualify for funding.
Submit Application: Send your completed application forms and supporting documents to TACC via the provided contact information.
Await Review: TACC will review your application and may request additional information if needed.
Approval and Funding: Upon approval, discuss the terms of the non-repayable contribution and proceed with your business plans using the funds provided.
