Eligible Entrepreneurs

Individuals, who are residents of Ontario and at least 18 years of age who provide the following evidence, may apply:

Without any exception, any one of the following ancestry documentations:

• Certificate of Indian Status ("Status Card") issued by the Government of Canada; or,
• Métis Nation of Ontario membership* card, or another Métis provincial governing body affiliated with the Métis National Council*; or,
• Inuk/Inuit membership card (recognized though Inuit Tapiriit Kanatami); or,
• For Non-registered, long-form birth certificate(s) plus a Certificate of Indian Status (Status Card) of a parent or a grandparent; 

and a copy of one other piece of Ontario government-issued identification (normally an Ontario Driver’s License, Ontario Health Card or Ontario Photo Card are also acceptable) as evidence of identity and Ontario residency.

Although AIC is not able to consider support for persons who are not able to meet the above documentary requirments, it may be able to help identify other sources of financing. 

* The Métis Voyageur Development Fund (MVDF) makes all determinations regarding Métis clients. If you are a Métis person, please first contact MVDF by telephone at 1-855-798-0133 or by email at info@mvdf.ca to discuss your eligibility and project. Additional information regarding Métis provincial governing bodies affiliated with the Métis National Council are listed at https://www2.metisnation.ca/about/faq/ .

Only financially responsible applicants who demonstrate they possess the required minimum equity, and the ability to secure adequate commercial financing can be considered for support.

To determine the likelihood of secure adequate financing for a project, AIC may examine Applicant credit worthiness by way of consultation with an AFI or another financial institution or by directly reviewing the credit history of an applicant.

The required minimum amount of cash equity applicants must ultimately leverage and contribute toward their eligible project costs is the sum of:

• 10% of the eligible capital costs; plus,
• 25% of the eligible non-capital and planning costs.

For applicants who have previously received support, the minimum equity requirements will normally increase with each successive project.

At the time of applying, applicants will normally provide a copy of their most recent bank statement, in either their own name or their business name, as evidence of their equity. This equity must be available to go towards eligible project costs. For startup businesses, this equity must only be in the form of cash.

The required cash equity should be retained and ultimately put towards the eligible project costs. AIC may seek to verify cash equity again prior to a funding decision. Evidence of the required cash equity being paid toward eligible costs will be requested prior to disbursement of any approved funding. 

For capital costs only, applicants are required to secure commercial financing, in the form of term loans and/or lines of credit from an Aboriginal Financial Institution (AFI) or Canadian commercial lender (banks, finance companies) of an amount equal to or greater than 50% of eligible capital costs.

Applicants who have been approved by a AFI conditional on AIC support will be considered to have met this requirement.

Applicants with prior work and/or business experience providing transferable skills to the business can be considered for support. 

Applicants must provide a resume and supporting documentation that clearly demonstrate,  to AIC’s satisfaction, they possess the key competencies (abilities/skills) that will enable them to implement their project and successfully manage their business. 

Evidence of education and applicable accreditations, licenses or certifications required to work in the industry or location (jurisdiction) will also be requested.

To be considered for support, applicants must clearly demonstrate, to AIC’s satisfaction, that non-repayable support is required to secure commercial financing for the project and/or ensure anticipated results will materialize within similar time-frame and risk. An Applicant’s financial resources as well as the size, scope and complexity of the project may be considered in determining if AIC funding is needed.