Prime Minister Justin Trudeau. (Government of Canada)

By David Opinko

$306-million announced to support Indigenous businesses

Apr 18, 2020 | 10:09 AM

OTTAWA, ONT – The Government of Canada has announced a new fund to support businesses owned by Indigenous communities.

Prime Minister Justin Trudeau says $306-million is being invested to allow companies to access short-term interest-free loans and non-repayable contributions.

Funding will be provided through Aboriginal financial institutions and administered by the National Aboriginal Capital Corporations Associations.

Trudeau says this will allow many entrepreneurs to survive through the COVID-19 pandemic and recover once this is all over.

“Today’s investment will help thousands of businesses bridge to better times, including many that are owned and run by Indigenous women.”

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“These businesses employ people right across the country in small communities and big cities alike. They create good jobs in a whole range of sectors, so when we support them, we are supporting families and workers too.”

He reiterated already-existing support programs such as the Canada Emergency Business Account, Employer Wage Subsidy, and the Canada Emergency Response Benefit.

“We’re focused on helping you.”

The Prime Minister promised that more supports for Indigenous businesses will be announced soon.

Trudeau’s full Saturday morning press conference can be viewed below.