NACCA, the National Aboriginal Capital Corporations Association, is a member network of over 50 Aboriginal Financial Institutions (AFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. The AFI network has, over the last three decades, provided over 45,000 loans totalling over $2.5 billion to businesses owned by First Nations, Métis, and Inuit people. Each year over $100 million in new loans are made to Indigenous businesses, 500 start-ups are financed, and 750 existing businesses are financed but there is a strong demand for new capital.
NACCA’s participation in the IRP will begin to address and fill the gaps that currently exist between the “mainstream” Canadian social innovation and social finance ecosystem, and Indigenous entrepreneurs and businesses. NACCA will offer capacity building workshops and grant support to some of its AFI network preparing them to access new sources of funding, including the Indigenous Growth Fund.