Small business loans for Indigenous entrepreneurs

Loan details.

	Startup For new businesses	Growth For existing businesses
Loan size	Up to $50,000	Up to $75,000
Loan type	Term loan or combination of term loan and operating line of credit	Term loan or combination of term loan and operating line of credit
Interest charged	Vancity Prime^± plus 3%^†	Vancity Prime^± plus 3%^†
Repayment period	5 years	5 years

A term loan is repaid over a specific period of time by making payments on both the principal and interest. A line of credit (also known as an operating loan) requires the loan-holder to repay only the interest on the outstanding loan balance each month. A line of credit is limited to a maximum of 25% of the total approved amount. Administrative fees are waived under the startup loan program for all term loans and for the first year on your line of credit.

Eligibility.

All business owners have successfully completed a self-employment or pre-entrepreneurial training program such as the Aboriginal BEST (Business and Entrepreneurship Skills Training) program

You operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor

Let’s get to know your business.

We want your business to be successful and have a positive impact on our community. If this loan sounds right for you, we’ll work with you to understand your business potential and explore financial solutions to meet your needs.

1

Start with a plan.

A business plan helps us understand your goals and how you’ll achieve them. To get started, read our Start Smart guide. You’ll also need to prepare other documents in our checklist.

2

Tell us about your business.

Send an email to microfinance@vancity.com with details about your business and what you're looking for.

3

Meet with us.

We’ll book an appointment with you to talk through the details. Be sure to fill out the Aboriginal BEST workbook in advance.

Featured member: Satya

As a values-based co-operative, we’re committed to removing barriers for Indigenous entrepreneurs. When Patrice Mousseau started her organic skin care line, she she wasn’t a typical entrepreneur; she just wanted to solve her daughter’s eczema. With Vancity financing and support, she moved production of her organic skin care line from her kitchen to a lab—and into hundreds of retail stores.

“It can be very intimidating going into a bank as an entrepreneur,” she says. “I’m a single mom and I didn’t have a lot of collateral. But Vancity found a way to make it work and had my back from the very beginning. It feels like a partnership, like they’re part of the family that is my company.”

Meet other members making change

Startup loans

For Indigenous entrepreneurs.

Why our startup loans stand out.

Inclusive approval

Advice and support

Financial flexibility

Loan details.

Get inspired.

Eligibility.

Let’s get to know your business.

Start with a plan.

Tell us about your business.

Meet with us.

Questions?

Find a business account manager

Schedule a call

Tools to build your business.

Business credit cards with reward points.

One-stop-shop for business solutions.

Business banking that comes to you.

Point-of-sale and payment technology.

Deposit drop boxes, accessible 24/7.

Featured member: Satya