Loans for Aboriginal and Torres Strait Islander start-ups - Ongoing
The Start-up Finance Package provides Aboriginal and Torres Strait Islander start-ups with access to loans to help new businesses get off the ground.
The start-up finance package is up to $100,000 and includes:
- up to 30% of a new business loan as a grant to purchase assets for the business which does not need to be repaid
- flexible loan repayment options
- no application or line service fees
- loan term of 7 years
- minimum security requirements.
To be eligible, you must:
- be at least 18 and of Aboriginal and/or Torres Strait Islander descent
- own at least 50% of the business, or have at least 50% of the business owned by people of indigenous descent
- have less than $400,000 in actual annual turnover
- have been trading for less than 2 years
- have a commercially viable business model.
