Indigenous Entrepreneur Startup Program (IESP)
Futurpreneur empowers aspiring young Indigenous entrepreneurs on their journey to success. The Indigenous Entrepreneur Startup Program (IESP) provides start-up loan financing and up to two years of mentorship, supported by a team with lived experience, offering access to tools and networking.
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Our offering
The IESP is designed and operated by an Indigenous team that understands the barriers to success faced by young and aspiring Indigenous entrepreneurs. IESP provides startup loan financing and up to two years of mentorship, supported by a team with lived experience, offering access to tools and networking opportunities across Canada.
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Meet a Futurpreneur
Are you eligible for the Indigenous Entrepreneur Startup Program?
See here for the top level criteria you have to meet to be eligible or click the button to see the full list:
See full eligibility criteria hereYou must self-identify as Indigenous
Indigenous entrepreneurs who self-identify as members of other communities are also welcome to apply for support from Futurpreneur.
You must be a Canadian citizen or permanent resident aged 18-39
When you apply you must be within the stated age range in order to be eligible.
You are looking to launch a business or have been operating your business for less than one year
In order to be eligible, your business must not yet be operational or can only have been operating full time for 12 months or less.
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Some of our trusted partners
Futurpreneur is proud to partner with Indigenous organizations across Canada to support young Indigenous entrepreneurs.
Alberta Indian Investment Corporation (AIIC)
Clarence Campeau Development Fund
Become a community partner
Does your organization help young Indigenous entrepreneurs launch businesses? Find out how we can partner with you to provide financing, mentoring and other resources to help them succeed. Call or email us today!
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FAQ
Can’t find the answers you’re looking for? See our general FAQs.
What is the Indigenous Entrepreneur Startup Program?
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.
Why does Futurpreneur have a specific program supporting Indigenous entrepreneurs
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.
How is the Indigenous Entrepreneur Startup Program different from your other programs?
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.
Who is eligible for the Indigenous Entrepreneur Startup Program?
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.
To participate in this program, how is a person determined to be Indigenous?
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).
Financing terms & fees
Futurpreneur repayment terms & fees
- Up to $20,000 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.
BDC repayment terms & fees
- Up to $40,000 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.
