Inuit, First Nations and Metis-owned small and medium-sized businesses will be eligible for a share of $306.8 million in funding revealed on Saturday.
image courtesy of the Government of Canada
Prime Minister Justin Trudeau announced the aid, which is expected to help 6,000 Indigenous-owned businesses across the country.
The funding will be made available through short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, according to the Government of Canada.
“Indigenous businesses provide jobs, goods, and services to communities, and are an important part of the Canadian economy. Right now, they are facing challenges and economic hardships due to COVID-19. That is why the Government of Canada is taking action to make sure that Indigenous business owners have access to the support they need to get through this crisis,” reads a federal government news release issued Saturday.