CNA Grant

The Citxw Nlaka’pamux Assembly (CNA) has partnered with IICF to deliver the Citxw Nlaka’pamux Assembly Entrepreneur Equity-Matching Initiative (CNA-EEMI) to the membership of participating Bands of the CNA. The CNA-EEMI will match funds for projects establishing, modernizing, or expanding, of up to $10,000.

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The CNA-EEMI is intended to promote capacity development, employment creation and community impacts, priorities, or benefits.

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Up to $10,000 in matching equity available per project. Businesses must be at least 51% owned by the CNA Participating Band member located in British Columbia.

• Only one project will be approved per member in a lifetime.

• Eligible projects include establishing, modernizing, or expanding.

• Ineligible costs include, but are not limited to; refinancing debt, debt consolidation, business

• planning and/or feasibility studies.

• To leverage CNA-EEMI funding through entrepreneur equity and IICF debt-financing for new or expanding business projects.

• The CNA-EEMI component cannot be greater than 25% of the total project costs.

• The matching member equity must be cash equity.

• Equity-matching is conditional on IICF approving a term loan (debt- financing) for the member-owned business.

• Once IICF approves the business loan application for the Participating Band member with the inclusion of CNA-EEMI in the loan summary, the following steps will be taken:
  — IICF will forward the approved loan summary to the CNA once completed.
  —  The CNA will submit the funds to IICF in a timely manner with the goal of not hindering the business start-up of the entrepreneur.
  —  Once the CNA-EEMI funds are received, IICF will disburse the loan proceeds IICF standard disbursement procedures.

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Website: www.cna-trust.ca