Indigenous Growth Fund
Eligibility & Details
What this program funds and who can apply
Program Description
A limited partnership investment fund managed by NACCA that pools capital from institutional investors (including the federal government, BDC, EDC, and Farm Credit Canada) and deploys it to approximately 59 Indigenous Financial Institutions across Canada, which extend business loans to Indigenous entrepreneurs. Budget 2024 added $150 million, bringing total committed capital to over $300 million. Entrepreneurs apply through their regional IFI, not directly to the fund.
Eligibility Requirements
- Must be an Indigenous entrepreneur
- Must work through a local Indigenous Financial Institution (IFI) that is a member of NACCA
- Business must be at startup, growth, or expansion stage
- Loan amounts vary based on local IFI capacity and project needs
- Loan program only — not a non-repayable grant
Quick Assessment
Funding Details
- Amount
- Via local IFIs (amounts vary)
- Type
- Loan
- Level
- Federal
- Deadline
- Ongoing (apply through local IFI)
Program Scorecard
Competition, effort, and approval at a glance
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How to Win
Insider tips, common pitfalls, and what successful applicants look like
Insider TipAsk your IFI specifically whether they have IGF capital available for larger loans — some IFIs now offer $250K-$750K loans that were not possible before the IGF. Many applicants do not realize the IGF is what unlocks these larger amounts. Also ask about the AEP contribution stream (non-repayable up to $99,999 for individuals, $250,000 for communities) through the same IFI — you may qualify for both a grant component and a loan component simultaneously. The IFI network has a developmental lending mandate, meaning they are designed to support entrepreneurs who would not qualify for mainstream bank financing. If a bank has turned you down, that does not disqualify you here — it may actually be the intended use case. Block Inc.'s 2023 investment as the first private-sector IGF investor signals growing mainstream confidence in the fund.
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Rejection Pitfalls 7
- Unable to demonstrate viable path to loan repayment — business plan shows no realistic revenue scenario
- Insufficient documentation of Indigenous identity
- Business plan too vague or financial projections not credible
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Success Profile
Indigenous entrepreneur (First Nations, Metis, or Inuit) with a viable business concept or existing business requiring growth capital. Strong candidates have: clear use of funds tied to revenue generation, some personal equity or community support, Indigenous identity documentation, and willingness to work with IFI advisor to develop/refine business plan. IFIs serve all stages from startup to expansion — startup is common given the developmental lending mandate. The program is specifically designed for entrepreneurs who would not qualify for mainstream bank financing. Businesses in any sector are eligible, though some IFIs have regional sector expertise (e.g., tourism, agriculture, construction, retail).
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Evaluation Criteria
IFI loan assessment based on: business viability and path to repayment, quality of business plan and financial projections, personal and business credit history (more flexible than mainstream banks — developmental lending mandate), intended use of funds tied to revenue generation, personal equity or community support, Indigenous identity documentation, and willingness to work with IFI advisor. This is developmental lending — IFIs are designed to serve entrepreneurs who would not qualify for mainstream bank financing.
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Application Playbook
Step-by-step process, required documents, and expenses
Application Steps
Required Documents 8
Eligible Expenses 12
- Business startup costs and launch expenses
- Equipment and machinery purchases
- Inventory and initial stock
- Working capital
- Commercial real estate acquisition or leasehold improvements
- Vehicle purchases for business use
- Marketing and business development
- Technology and software
- Professional services
- Franchise fees
- Construction and renovation costs
- Land acquisition for business purposes
Ineligible Expenses 5
- Personal expenses not related to the business
- Refinancing of personal debt
- Speculative investments
- Gambling or illegal activities
- Expenses outside of Canada (varies by IFI)
Intake Periods
Continuous ongoing intake through local IFIs. No formal intake windows or deadlines. Individual IFIs may have temporary capacity limits during high-demand periods. The IFI directory is available at nacca.ca/aboriginal-financial-institutions/.
Deadline Notes
No application deadline. IFIs accept loan applications on an ongoing basis. Contact local IFI directly to begin. Individual IFIs may have capacity limits at given times. The IFI directory is available at nacca.ca/aboriginal-financial-institutions/. Budget 2025 confirmed $6M for the SITES 2 project through NACCA but no additional IGF top-up; the $350M Budget 2024 allocation for the IFI network is being deployed.
Open Application Portal →Ineligible Organizations
- Non-Indigenous entrepreneurs (must be First Nations, Metis, or Inuit)
- Businesses outside the IFI's geographic service area
- Applicants with outstanding defaults on previous IFI or AEP loans
- Businesses engaged in illegal activities
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
Compatible Programs
Clawback Risk
Low RiskSee which programs combine with this one — and how much more you could get. Unlock with Premium →
How Indigenous Growth Fund Compares
Side-by-side with similar programs
| Program | Amount | Difficulty | Payment | Deadline |
|---|---|---|---|---|
| Indigenous Growth Fund | Via local IFIs (amounts vary) | Easy | Loan | Ongoing (apply through... |
| Aboriginal Entrepreneurship Program (... | Up to $99,999 | Easy | Advance Payment | Ongoing |
| Canada Small Business Financing Program | Up to $1.15 million | Easy | Mixed (Advance + Reimb.) | Ongoing |
| Futurpreneur Canada Startup Program | Up to $75,000 | Moderate | Loan | Ongoing |
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