Indigenous Tourism BC: Announcing the Indigenous Community Business Fund

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Indigenous Tourism BC: Announcing the Indigenous Community Business Fund

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by ahnationtalk on October 2, 2020124 Views


Indigenous Tourism BC in partnership with Indigenous Services Canada and the Aboriginal Financial Institutions in BC are delivering a $5 million dollar Tourism and Hospitality Fund through the Indigenous Community Business Fund.

This fund will provide non-repayable grant contributions of up to $250,000 per community to First Nation and Inuit community-owned and Métis collectively owned businesses and microbusinesses in response to the economic impacts of COVID-19 over the period April to August 2020.

Inuit and Metis communities and collectives can access funding to support their community-owned businesses whose revenues have been affected by COVID-19. This fund prioritizes Indigenous community-owned businesses who were not eligible for other government relief measures or who can demonstrate additional need. It is intended to relieve financial pressure and allow these businesses and microbusinesses to strengthen operations and support their viability during the pandemic, with the goal of positioning them for recovery.

Funding will be proposal-based. Applications must be submitted by the community or collectives on behalf of the business. Funding will be transferred directly to communities and collectives. For First Nations and Inuit community-owned businesses, the funding will be administered by Indigenous Services Canada (ISC) regional offices. For Métis collectively-owned businesses, funding will be administered by delivery partners.

Who can Apply

Your community or collectives are eligible if the business:

  • is First Nations, Inuit or Métis community-or collectively-owned
  • is located in the province of BC
  • has been in operation since October 1, 2019
  • has either incurred a negative financial impact due to COVID-19 or that financial support will prevent layoffs, bankruptcy or permanent closure
  • has been solvent, financially viable, and not declared bankrupt prior to the economic disruptions associated with COVID-19
  • currently operates and expects to continue to operate with a reduction in revenues from the previous year over the coming months as a result of COVID-19
    • 15% reduction in revenues from March 15 to April 11, 2020
    • 30% reduction in revenues from April 12 to July 4, 2020
  • has previously applied for federal business support and been declined, in whole or in part, or do not qualify under business support eligibility criteria:
    • this may include applications to more than 1 federal program depending on the requested support

A First Nation, Inuit or Métis community or collective may apply for funding for 1 or more community-owned businesses.

How to Apply

  1. Complete the Indigenous Community Business Fund Financial Assistance Application form.
  2. Include with your application the form above and:
    • the most recent interim financial statements such as a year to date balance sheet and profit or loss statement
    • a copy of your business continuity or recovery plan
    • letters patent or incorporation documents, if incorporated
  3. Submit your application package by email to the Indigenous Tourism BC office at [email protected].

You will receive an acknowledgement notification within 2 business days of submitting an application.

Other documents could be requested from the applicant if needed. If you have been in operation for less than 1 year, please provide interim financial statements.

Deadline

There are no submission deadlines. Applications for funding are accepted on an ongoing basis until all funding has been allocated.

Eligible Costs and Activities

Non-repayable contributions where business revenues have been affected by the COVID-19 pandemic will be considered for these reasonable operating costs:

  • capital lease payments for existing equipment and machinery
  • salaries and benefits, at the same rate as the Canada Emergency Wage Subsidy and only if ineligible for it
  • utilities
  • bank charges and interest payments
  • professional fees
  • monthly insurance payments
  • rent or mortgage, only if ineligible for Canada Emergency Commercial Rent Assistance
  • supply and delivery costs
  • operating costs or capital expenditures related to adapting the business and services
  • payments for regularly scheduled debt service of an existing debt that is not related to other federal COVID financial support
  • other reasonable applicable operating costs

Costs not eligible for non-repayable contributions include:

  • any costs deemed not reasonable or not directly related to business operational expenses
  • refinancing or repayment of an existing loan or debt resulting from other federal COVID financial support
  • costs of amortization and goodwill
  • acquisition of buildings
  • costs for services provided by a federal or provincial government
  • loss of revenue

Assessment Process

Indigenous Tourism BC is working with the following Aboriginal Financial Institutions for the delivery of this fund:

Applications will be triaged for review by one of the Aboriginal Financial Institutions in the order they are received. They will be screened by one of the Aboriginal Financial Institutions for eligibility, using the criteria above, before proceeding to an assessment to determine the amount of eligible funding.

Decisions will be shared with applicants as they become available. Applicants who are unable to clearly demonstrate that they meet all recipient and cost eligibility requirements will be declined.

At any time during the intake and assessment process, Indigenous Tourism BC or Aboriginal Financial Institution may contact the applicant for additional information, including missing or incomplete documentation. Delays in responding to requests for additional information within 5 business days may result in a delayed or declined decision.

Confidentiality

All proprietary data, commercially sensitive information and potentially valuable results or ideas will be protected from unauthorized, inadvertent or untimely disclosure. Beyond the parties already mentioned above, confidential commercial information will not be shared without the applicant’s consent.

Reporting Requirements

Recipients will be required to submit periodic project reports and annual financial statements. Project reports will provide details on results and completion of deliverables.

Contact Us

Please contact the Indigenous Tourism BC office if you have any questions about the application.

Francine Douglas
Phone: (604) 997-4913
Email: [email protected]

Gail Joe
Phone: (604) 505-7762
Email: [email protected]

For more information about the Indigenous Community Business Fund, you can visit the Indigenous Services Canada.

For more information on eligibility download the PDF here.

NT5

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