Waubetek: Business loans
Waubetek lends Aboriginal entrepreneurs in North Eastern Ontario up to $500,000 in term loans or up to $250,000 in bridge financing. This is a loan you must repay, and you must put in 10% of the project as your own cash.
“The application for Waubetek financial support is reviewed for completeness and is then screened for eligibility.”
From the official program page
Before you spend any money
Intake is ongoing, so there is no deadline. The key timing rule is that approval comes before spending. You get a Letter of Offer when approved, must meet pre-disbursement conditions, and money is paid out by reimbursing your paid invoices or paying suppliers directly.
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 of Aboriginal ancestry, such as a First Nation member, Inuit, or Non-Status Indian with a genealogical link, and your business operates in North Eastern Ontario.
- You have 10% of the project cost available as your own unencumbered cash to invest.
- You plan to be a full-time, active owner with the necessary licenses, background, and management skills to run the business.
Probably not the right fit if
- You are looking for a grant or free money, because these are loans that you must repay.
- You are a Metis citizen, as you should apply through the Metis Voyageur Development Fund instead.
- Your business is a passive investment like self-storage or a laundromat, or it is a smoke shop, liquor establishment, or payday lender.
How much you'd realistically get
Term loans up to $500,000 (or $1,500 for an Aboriginal student or youth summer business), and bridge financing up to $250,000. You must contribute 10% of the project in your own unencumbered cash, meaning it cannot come from another loan or credit source.
What may be supported
- Establishing a business in North Eastern Ontario
- Expanding a business in North Eastern Ontario
- Purchasing a business in North Eastern Ontario
- Bridging a project until confirmed funds arrive from other lenders or government agencies.
What's excluded or restricted
- Smoke shops
- Liquor establishments
- Businesses involved in sexual exploitation
- Games of chance
- Payday loans
- Passive investments (specifically: self-storage units, laundromats, investor-only models)
- Equity sourced from other loans or credit sources (must be unencumbered)
How applying works
Effort: involvedYou start with a consultation, then submit an application, resume, project summary, proof of Aboriginal ancestry, ID, and confirmation of your cash equity. If you are found eligible, you submit a full business and marketing plan. If it is approved, you sign the Letter of Offer and meet its conditions before any money is paid out.
- 01Consult with a Business Development Officer about whether and how to proceed, or start online through the Apply Now portal.
- 02Submit the application form, your resume, a project summary, documentation of Aboriginal ancestry, ID, and cash equity confirmation.
- 03If eligible, submit a full business and marketing plan for review.
- 04If approved, sign the Letter of Offer.
- 05Meet the pre-disbursement conditions.
- 06Submit your invoices and proof of payment to receive funds by reimbursement or direct supplier payment.
Who to ask: (705) 285-4275
Documents commonly required
- Completed application form
- Resume and a summary of your project
- Documentation of Aboriginal ancestry
- Government ID, or incorporation documents if a corporation
- Confirmation of your 10% cash equity
What to know before you count on it
- It is a loan. You repay it. It is not free money and it is not taxable income.
- You must provide 10% of the project as your own cash, and it cannot be borrowed from elsewhere.
- Money is paid out as reimbursement after you submit invoices and proof of payment, or paid straight to suppliers, so you front the cost first.
- The official page does not list interest rates or repayment terms. Ask a Business Development Officer before you commit.
What are your odds?
Approval depends on your background, your management capacity, a solid plan, and having the 10% cash ready. A Business Development Officer reviews your proposal first, so the early consultation is your chance to test whether your project fits.
Frequently asked questions
Is this a grant?
No. These are business loans. You pay the money back. It is not a grant and it is not taxable income.
How much can I borrow?
Term loans up to $500,000, or $1,500 for an Aboriginal student or youth summer business. Bridge financing goes up to $250,000.
Do I need to put in my own money?
Yes. You must provide 10% of the project as your own unencumbered cash, and it cannot come from another loan or credit source.
How do I get paid?
By reimbursement of your paid invoices, or by Waubetek paying your suppliers directly, after you submit a claim with invoices and proof of payment.
What you can combine it with
Bridge financing is specifically meant to cover you until confirmed funds arrive from other lenders or government agencies, so it is designed to work alongside other funding. Confirm the details with your officer.
Worth reading before you apply
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.