SOCCA: Term loan for Indigenous businesses
SOCCA offers term loans to Indigenous businesses in Quebec for buildings, land, or equipment. You must provide a minimum 10% down payment and prove you can repay the loan.
Before you spend any money
The official page does not say whether the loan is paid out before or after your project is finished. Ask SOCCA before you apply.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Is this for you?
- You are a member of an eligible First Nation or the Native Alliance of Quebec.
- You need funding for tangible assets like a building, land, or business equipment.
- You can demonstrate the ability to repay the loan and provide sufficient guarantees.
Probably not the right fit if
- You are not a member of the specified Indigenous groups or the Native Alliance of Quebec.
- You need funding for working capital, which this loan does not cover.
- You cannot provide a minimum 10% down payment or lack the collateral to secure the loan.
How much you'd realistically get
The amount depends on your ability to repay. SOCCA can finance up to 70% of the cost of buildings, land or equipment, and up to 50% of inventory.
What may be supported
- Purchasing or constructing a building or land.
- Buying business equipment.
- Purchasing inventory.
What's excluded or restricted
- Working capital (not financed)
How applying works
Effort: moderateYou must prepare a financing application and gather documentation to prove eligibility and repayment capacity.
- 01Verify your membership in an eligible First Nation or the Native Alliance of Quebec.
- 02Review the required documents on the SOCCA documentation page.
- 03Prepare your financing application including proof of repayment capacity and guarantees.
- 04Submit your application via the contact methods provided by SOCCA.
Who to ask: Phone: 1 800 241-0972 or 418 842-0972; Email: administration@socca.qc.ca; Address: 2936, rue de la Faune, bur. 200, Wendake (Québec) G0A 4V0
Documents commonly required
- Proof of membership in an eligible First Nation or the Native Alliance of Quebec.
- Documentation of sufficient guarantees to cover the loan amount.
- Financial statements or records demonstrating repayment capacity.
- Details of the project cost and asset type.
What to know before you count on it
- You must provide a minimum 10% down payment of the total project cost.
- Interest rates are competitive but based on project risk, so ask SOCCA for your exact rate.
- You must have sufficient guarantees to reasonably cover the borrowed amount.
What are your odds?
Approval depends on your repayment capacity and the strength of your guarantees.
Frequently asked questions
How long is the loan term?
The term is based on the lifespan of the asset you are financing.
What is the maximum loan amount?
The official page does not list a dollar maximum. The amount depends on your ability to repay and the type of asset: up to 70% of the cost of buildings, land or equipment, and up to 50% of inventory.
Is there an application fee?
The official page does not list an application fee. Ask SOCCA before you apply.
Who administers this program?
SOCCA (Native Commercial Credit Corporation / Société de crédit commercial autochtone).
What you can combine it with
SOCCA also offers a Non-Refundable Contribution and Microcredit programs that may complement this loan.
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Page last updated ; status and deadline checked . Source: official program page.