financing

TACC provides financing to Aboriginal Entrepreneurs including Status, Métis, Inuit and Non-Status Indians residing in the Coast Salish Territory. We understand that it can be difficult to access financing and we will try our best to meet your needs. The following are financing options that we can offer you.

FCF Loan
The First Citizens Fund (FCF) loan offers a 40% forgiveness portion over the life of your loan. The lifetime maximum you can borrow is $75,000.

The terms of this loan are as follows:

• Borrow up to $76,125.00 minus fees
• A 1.5% borrowers fee applies for business client care services.
• Flexible amortization terms (2-10 years)
• Monthly, Semi-Annual and Annual payment terms available.
• 12% fixed rate of interest
• Businesses must be at least 51% Aboriginal owned/ operated.
• 15% minimum cash equity contribution required.
• The forgiveness of 40% of the principle amount borrowed. The forgiveness portion of 10% is deducted from the principle of the loan four times throughout the term of the loan, subject to the terms and conditions of the FCF Agreement.

Conventional Loan
The TACC Conventional Loan does not include a forgiveness portion, and is similar to mainstream financing.

The terms of this loan are as follows:

• Borrow up to $250,000.00
• 1.5% borrowers fee
• Flexible amortization terms (1-10 years)
• Monthly, Semi-Annual and Annual payment terms available.
• Sliding scale interest rate, based upon your credit rating and starting at 8%
• 15% minimum cash equity contribution