Emergency Loan Programme News Release
Date: 20 May 2020
All Nations Trust Company is pleased to announce that the Emergency Loan Application is now available for both current and former clients to download. Both fillable and non-fillable version of the application are available for use. The application can be found by clicking “Services”, then “Emergency Loan Application” on ANTCO’s home page.
In response to the COVID-19 crisis, All Nations Trust Company and its subsidiary All Nations Development Corporation (collectively “ANTCO”), through assistance provided by the Government of Canada, is taking action to ensure that Indigenous business owners impacted by COVID-19 have access to the support they require. The emergency loan program is a component of the Indigenous Business Stabilization Program.
The Emergency Loan Program (“ELP”) is designed as an emergency measure to support small business owners in meeting their immediate operating cash flow needs. These funds are not intended to replace or duplicate government or other bank/lender emergency financing/funds that are available to businesses in Canada.
Maximum assistance is $40,000 comprised of a 75% loan and 25% non-repayable contribution. Loan and contribution are issued together.
Eligible costs for this assistance can include:
Indigenous owned businesses negatively impacted by COVID-19 can apply for this funding to support their immediate working capital and operational needs. Eligible expenses could include:
Funds may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.
Please email the fully completed application with attachments to ELP@antco.ca.
If you have any questions about requirements, please email your questions and phone number to ELP@antco.ca.