Native Women's Association of Canada Website

LIST OF FEDERAL PROGRAMSTHE ATLANTIC CANADA OPPORTUNITIES AGENCY (ACOA)1.0 OVERVIEW OF DEPARTMENTThe Atlantic Canada Opportunities Agency is the lead federal government agencyresponsible for regional economic development in Atlantic Canada. Its principal focus isjob creation, which it accomplishes by helping to create small and medium-sizedbusinesses, assisting in the expansion of others an supporting strategically promisingsectors where sustained employment growth appears likely. Part of ACOA's roleincludes: advocating on behalf of Atlantic Canada's interests in the development ofnational policy; initiating and encouraging alliances among public and private-sectorstakeholders; and through research and policy development. ACOA's strategic prioritiesinclude: cultivating a climate of entrepreneurship; developing market and tradeopportunities; promoting tourism and innovation; and encouraging human resourcedevelopment and best management practices.2.0 PROGRAM: CAPITAL AND COUNSELING PROGRAM FOR YOUNGENTREPRENEURSThrough partnerships with the 40 Community Business Development Corporations(CBDC) as well as other delivery agents, ACOA' s Young Entrepreneurs ConneXionSeed Capital and Counseling Program assists those under 30 years of age accesssmall business start-up and expansion financing. This program ensures that active andaspiring young entrepreneurs throughout Atlantic Canada enjoy equal access to theinformation, and capital they need to make their business succeed.2.1 Criteria:applicants must be residents of Atlantic Canada and between the ages of 18 and29 inclusive (applicants under the age of 19 require the co-signature of an adult)the loan must be invested in the start up, expansion or modernization of abusiness .the applicant must be the majority owner of the businessbusinesses in most sectors are eligible, including retail and personal services, aswell as seasonal enterprisesthe loan is intended as a long-term investment in the financing of any costs of thebusiness including fixed assets, start-up costs and working capitalthe loan may be used as equity to attract other investorsthe loan cannot be used to purchase an existing businessthe loan cannot be used for refinancing of existing debts or business restructuringaccess to a maximum of $15,000 in the form of a repayable, unsecured personal loanequity not necessarily requiredflexible interest and repayment termsbusiness counseling or training costs, up to a maximum of $2,000, paid for byACOAPg. 15