Grant, loan or contribution?
- Grant
- Money you do not pay back.
- Non-repayable contribution
- Money you do not pay back, but you must use it the way your agreement says. The federal Aboriginal Entrepreneurship Program money is a non-repayable contribution, given with a loan from your IFI.
- Loan
- Money you pay back over time, often with interest.
- Loan guarantee
- A promise to the lender to pay if the borrower cannot. These are for big community projects, like Canada Indigenous Loan Guarantee Program ($20 million to $1 billion).
- Equity or investment
- Someone puts money into your business and owns part of it.
- Wage subsidy
- Money that helps pay a worker, like NOHFC Indigenous Workforce Development Program.
Every program has its own rules. Read its official page.