West Coast Energy Fund

WCEF

What is the West Coast Energy Fund?

The West Coast Energy Fund (WCEF) was created in partnership between Indigenous and Northern Affairs Canada – Strategic Partnerships Initiative and the New Relationship Trust (NRT). It will be delivered by our BC Aboriginal Financial Institutions (AFIs) partners.

The WCEF is a $5 million capital fund that is available to support small to large sized Aboriginal (First Nations, Inuit, Métis and Non-Status) entrepreneurial and Community businesses based in British Columbia (BC). The WCEF will support businesses that are related to oil and gas and liquefied natural gas (LNG) projects, either directly or indirectly, through supply chain procurement opportunities. This includes exploration, pipeline build outs and plant developments, and other opportunities to be evaluated on a case by case basis.

Procurement for purposes of the WCEF is any business opportunity that provides either products or services in support of, or directly to, the development of oil and gas and LNG.

To learn more, download the PDF below.

Highlights and eligibility

What are the highlights of the fund?

  • Loans from the Fund must be used in conjunction with other financing and/or funding programs, including the First Citizen’s Fund, Business Equity Program, Community Futures lending programs, commercial financing and Federal development programs administered through the AFIs;
  • Access to funding will be through the AFIs partnered with NRT to deliver the WCEF – please see the list of AFIs on the back cover of this pamphlet;
  • The WCEF can provide financing toward an eligible project of up to 25% of eligible costs with a minimum loan amount of $25,000 and a maximum loan amount of $200,000 per project; and
  • Multiple projects per client are eligible up to a lifetime maximum from the WCEF of $200,000.

Who is an eligible applicant?

  • An Applicant must be of Canadian Aboriginal heritage – First Nations, Métis, Non-Status or Inuit business working within BC.
  • The business must be 51% Aboriginal owned and controlled, or proposed to be owned and controlled, through a sole proprietorship, corporation or partnership/limited partnership.
  • Applicant eligibility will follow the guide-lines set out by the AFIs for their client base.

Support and financing

What kind of support can the WCEF provide?

Eligible projects include the following:

  • Establishment (capital) costs;
  • Business acquisitions;
  • Business expansions; and
  • Marketing and start up costs including working capital.

How much financing is available?

The WCEF can provide financing for an eligible project of up to 25% of eligible costs following these guidelines:

  • A minimum loan of $25,000 (this requires the total eligible costs of the project to be at least $100,000) and up to a maximum loan of $200,000 (total eligible costs need to be a minimum of $800,000 to receive the maximum loan under WCEF).

How do I apply?

Step 1: Contact one of the following Aboriginal Financial Institutions (AFI) that provides service to your area, and speak to one of their Project Officers about your project to confirm WCEF eligibility.

Step 2: Complete the AFI’s loan application form.

All Nations Trust Company

Serves South East British Columbia, Okanagan, Fraser Canyon North, and North East British Columbia

1.800.663.2959
www.antco.bc.ca

Community Futures Development Corporation of the Central Interior First Nations

Serves Central Interior BC

250.828.9833
www.cfdcofcifn.com

Nuu-chah-nulth Economic Development Corporation

Serves Nuu-chah-nulth Territory and beyond, Vancouver Island West, and Vancouver Island– Campbell River North

1.866.444.6332
www.nedc.info

Sto:lo Community Futures

Serves Fraser Valley – Upper and Lower

604.858.0009
www.stolocf.ca

Tale’awtxw Aboriginal Capital Corporation

Serves Fraser Valley – Upper and Lower, Islands between Vancouver Island and the Mainland, and Vancouver Island – South of Campbell River

1.800.779.7199
www.tacc.ca

Tricorp

Serves North West British Columbia and Haida Gwaii

1.800.665.3201
www.tricorp.ca

TO LEARN MORE ABOUT OUR FUNDING OPPORTUNITIES, RESOURCES, OR OTHER INFORMATION, CONTACT US

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