The Aboriginal Student Business Loans (ASBL) Program provides loan financing of up to $1,500 for new or existing student businesses. This program is generally for those students who wish to create their own summer business or become self-employed.
Eligibility
These student business loans are currently available to Aboriginal youth 15 to 25 years of age who is a member one of the First Nations within our service area.
Program Description
- The maximum loan amount available per business is $1,500 (limit may be exceeded depending on the business plan).
- All applicants are required to contribute 5% towards the total cost of their project up front as a cash equity investment.
- Applicants under the age of 19 years will require a guarantee on each loan (parent, guardian or business person).
- The interest rate for loans is the prime lending rate.
- Repayment terms are flexible, depending on the type of business.
- All applicants must be returning to school as a full-time student in the fall of the same year.
- All applicants must prepare and submit a business plan (a template will be provided).
- Year-round, part-time or seasonal businesses also eligible.
For more information, please contact a Business Development Officer at:
Waubetek Business Development Corporation
General Delivery
Birch Island, Ontario
P0P 1A0
Telephone (705) 285-4275
Fax:(705) 285-4584
Email: waubetek@waubetek.com