Aboriginal Youth Business Initiative
Saskatchewan Indian Equity Foundation (SIEF)
Last Verified:
2005-09-06
The Aboriginal Youth Business Initiative (AYBI) is a financial program established to provide direct business loans to Aboriginal Youth. Training and support services are also available.
Eligibility Criteria
- 51% First Nations owned and/or operated enterprises
- Businesses significantly employing Aboriginals
- Businesses that will preserve existing Aboriginal employment
- Projects must be viable or have potential for viability with the ability to repay debt
- The owner must be an Aboriginal youth: from age 18 to 35 inclusive
Summary
The objective of the program is to increase access to capital and business management services for Aboriginal youth:
- To build entrepreneur interest and capacity;
- To provide access to capital;
- To provide pre-lending training and post-lending mentoring and coaching services to youth businesses to ensure high levels of success.
Program Outline
The program is open to all types of Aboriginal youth businesses: new business start ups where the applicant has a viable business plan; and for existing business expansion and/or modernization.
Loans may be approved for purposes of acquiring fixed assets and for start-up capital. Loans will NOT be approved for consumer loans or revolving lines of credit.
AYBI Youth Business Loans - The maximum loan is $15,000 - interest rate @ 8.5%
Any Aboriginal youth who is age 18 to 35 is eligible, as are businesses, corporations and partnerships where at least 51% is owned and controlled by an Aboriginal youth.
For more information contact:
Sharon Sugar, AYBI Coordinator, ssugar@sief.sk.ca, or Dana Soonias, Commercial Manager, daso@sasktel.net, or Caroline Maze, Agriculture Manager, cmaze@sasktel.net or the SIEF office shown below.
Saskatchewan Contact(s):
Saskatchewan Indian Equity Foundation (SIEF)
224B
4th Avenue South
Saskatoon, Saskatchewan
S7K 5M5
Telephone: (306) 955-4550
Fax: (306) 373-4969
E-mail: jarcand@sief.sk.ca
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