Aboriginal Financial Institutions

Over the past two decades, Aboriginal Business Canada and the Aboriginal business community have worked together to address the shortage of available credit to finance Aboriginal small business development. As a result, a network of loan corporations, structured as non-governmental financial institutions were created, initially capitalized by Industry Canada, but owned and controlled by Aboriginal people.

These Aboriginal Capital Corporations (ACCs) allow for services to be provided, which take into account different local market conditions and economic environments. ACCs concentrate on providing developmental loans, i.e., loans to enterprises, which are not yet ready to successfully secure business loans from banks. Some ACCs also provide business services, and have diversified their operations to be able to house External Delivery Services for Aboriginal Business Canada. There are 32 active ACCs across Canada.

The National Aboriginal Capital Corporation Association (NACCA) has been established to provide products and services such as training, access to capital initiatives, advocacy and other institutional capacity-building to the 45 Aboriginal Financial Institutions (AFIs), which constitute its membership. AFI has become the umbrella term for the ACCs and Aboriginal Community Futures Development Corporations.