Indigenous Entrepreneur Startup Program (IESP)

The Indigenous Entrepreneur Startup Program (IESP) is a tailored program equipped with tools, resources, financing and mentorship to support the needs of young Indigenous entrepreneurs across the country while launching their full-time business in the first year of operations.

Indigenous entrepreneurs face barriers and realities that are only specific and relevant to Indigenous communities. We recognize and acknowledge that equity deserving groups should have access to applicable and culturally appropriate programming and services in order to empower success.

Our IESP team is comprised entirely of Indigenous professionals from all over Canada. As we are part of the Indigenous community, we understand the Indigenous clients we work with and the realities they encounter. All of our learning content is created and delivered by an Indigenous team, incorporates Indigenous worldviews and histories, and is made accessible to all Indigenous clients wherever they may be.

We have also made adjustments to our credit matrix for equitable accessibility to our financing and mentorship program for Indigenous entrepreneurs, recognizing that many Indigenous individuals experience credit barriers and disadvantages due to colonialism.

Any self-identifying Indigenous entrepreneur, in their first year of business, between the ages of 18-39, with a Futurpreneur eligible business model, and a qualified credit standing is eligible for the Indigenous Entrepreneur Startup Program.

As we aim to not create additional barriers for Indigenous entrepreneurs, while also recognizing that Indigenous identity is individual and multi-faceted, we determine Indigenous identity through self identification. Intersectionality is also welcomed (e.g., those who identify as Black and Indigenous are eligible for this program).

• Up to $25,000 with a term over five years.
• Interest is charged at CIBC’s prime rate + 3%. (Note that if CIBC’s prime rate exceeds 6%, the interest rate charged is capped at 9%. If CIBC’s prime rate exceeds 9%, the interest rate charged will be charged at CIBC’s prime rate.)
• Interest-only payments for the first year.
• Principal repayments are made in equal monthly installments together with interest, over the remaining four years.
• No penalty for early repayment.
• A one-time loan management fee of 1% of the total loan amount is charged at the time of disbursement
• The above points reflect current Futurpreneur loan terms; the exact terms of each entrepreneur’s loan are clearly defined in their loan agreement.

• Up to $50,000 with a term over five years.
• Interest is charged at BDC’s current floating base rate + 1.65%.
• Interest-only repayment in the first year, commencing from the BDC loan authorization date.
• You may prepay all or any part of the outstanding principal, however, BDC must receive the interest owing to the time of repayment, together with an indemnity equal to three months’ interest on the principal prepaid.
• Once a year (non-cumulative), on the anniversary date of the loan authorization date, you may repay 15% of the principal outstanding without indemnity.
• BDC charges a $50 processing fee, which is deducted from the initial loan disbursement.
• Please contact your local BDC office for the BDC Floating Base Rate.