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Micro loans program launched on First Nation reserve

The Nishnawbe Aski Development Fund (NADF) is teaming up with Lac Seul First Nation to promote micro loans to aspiring entrepreneurs in northwestern Ontario.
Northern Ontario Business Staff

The Nishnawbe Aski Development Fund (NADF) is teaming up with Lac Seul First Nation to promote micro loans to aspiring entrepreneurs in northwestern Ontario.

“Access to capital is one of the main challenges Aboriginal business owners face, and it's up to us as a leading Aboriginal financial institution to come up with creative ways to ensure those dynamic entrepreneurs get access to the financing they need,” said NADF general manager Colleen Martin in a Jan. 25 release.

The Obishikokaang Development Fund is one of the initiatives NADF uses to empower the growing Aboriginal population.

Through a partnership with FedNor, NADF is able to provide commercial loans, grants, property appraisals, business counselling, community strategic planning and advisory services in mining and energy to First Nation communities.