Aboriginal Youth Business Initiative

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 Marcel Thorhaug mthoraug@sief.sk.ca ,  or Caroline Maze, Agriculture Manager, cmaze@sasktel.net or the SIEF office shown below.

Saskatchewan Contact(s):
Saskatchewan Indian Equity Foundation (SIEF)
202A Joseph Okemasis Drive
Saskatoon, Saskatchewan  S7N 1B1
Telephone: 306-955-4550
Fax: 306-373-4969
E-mail: cahenakew@sief.sk.ca
Web site: http://www.sief.sk.ca