The First Nations Bank of Canada (FNBC) and the Business Development Bank of Canada (BDC) have launched a $100-million joint initiative to help Indigenous communities finance business acquisitions. The loans, issued by FNBC and guaranteed by BDC, aim to support Indigenous-led purchases of established companies as a wave of small business owners prepare to retire.
BDC President Isabelle Hudon called the fund a step toward economic reconciliation. FNBC CEO Bill Lomax highlighted the opportunity for Indigenous ownership to increase competitiveness, particularly through procurement advantages. The fund is part of BDC’s broader Community Banking strategy.
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