First Nations Equity Financing Program

The First Nations Equity Financing Program provides loan guarantees that support First Nations to secure equity ownership in new and incremental revenue-generating projects, creating long-term economic benefits for First Nations and supporting economic growth in British Columbia.

On this page

• Program overview
• Information session
• Program goals
• Eligibility
• Application process
• Frequently asked questions
• Contact us

Program overview

The First Nations Equity Financing Program (FNEFP) provides provincial loan guarantees that support First Nations to secure equity ownership in new and incremental revenue-generating projects within their traditional territories. By improving access to capital, the program supports First Nations ownership in projects, strengthens participation in project governance, advances long-term economic benefits for participating First Nations, and supports economic growth and prosperity in British Columbia.

The program has a cumulative cap of $1 billion for provincial loan guarantees and will accept proposals on a continuous basis beginning in spring 2026 until the available loan guarantee room is fully allocated. 

The program’s design incorporates a robust risk management approach, including rigorous due diligence, similar to what would be expected with a commercial lender. Applicants must demonstrate that project proposals are commercially viable as a condition for loan guarantee approval.

Information session

An information session on the First Nations Equity Financing Program, hosted by the Ministry of Finance and the Ministry of Jobs and Economic Growth, will be held on July 15 at 10:00am via Teams. Please register here to receive the Teams link.

Program goals

The program is expected to help drive new development and/or substantial expansions of existing assets, attract incremental investment, create net new employment opportunities, and support stronger, more sustainable economic outcomes for First Nations, local communities, and the Province.

The program goals include the following:

• Support First Nations to secure equity positions in net new project investments that deliver long-term economic impacts
• Improve access to capital and reduce borrowing costs for First Nations through loan guarantees
• Create lasting economic prosperity for First Nations through increased participation in projects in their territories
• Strengthen partnerships among First Nations, industry and the Province
• Build First Nations business capacity by encouraging increased participation in commercial activity
• Support First Nations to leverage other funding sources and attract investment into British Columbia
• Encourage equitable benefit and risk-sharing among First Nations, public, and private sectors
• Contribute to provincial economic impacts, including job creation, GDP growth and market diversification

The Program Guide (PDF, 6.7MB) provides more detailed information about the program and application process.

Eligibility

Applicant eligibility

Eligible applicants include:

• B.C.-based Indigenous Governing Bodies such as Band Councils and Modern Treaty Nations
• First Nations Development Corporations (requires proof of support from the relevant Indigenous Governing Body)
• Other incorporated entities that are owned and controlled by an Indigenous Governing Body (requires proof of support from the relevant Indigenous Governing Body)

Applicants must demonstrate support from their governing body, the ability to cover debt repayment obligations, and the ability to access capital and financing to successfully participate in the project.

Project eligibility

Eligible Projects must:

• Be located in the applicant’s traditional territory
• Involve new capital construction or substantial capital expansion of existing assets
• Demonstrate strong projected financial performance
• Contribute to new economic growth, investment attraction, jobs, and revenue for First Nations, businesses and the Province
• Operate independently from existing assets through separate legal structures
• Generate sufficient financial returns to be commercially viable
• Have a minimum total capital project cost of $25 million

The program does not support:

• Purchase of equity in existing assets without significant new economic impact
• Non-revenue-generating projects
• Pre-construction development activities
• Non-equity financing
• Projects related to housing, gaming, forest tenures, or natural resource exploration

A provincial loan guarantee will be considered for up to 20% of the project’s total capital costs, with a minimum loan guarantee of $5M and a maximum loan guarantee of $400M.

Refer to the Program Guide (PDF, 6.7MB) for more detailed information regarding eligible and ineligible costs, as well as examples of potential projects.

If you are unsure if your organization or project is eligible, contact us at FNEFProgram@gov.bc.ca to discuss.

Application process

The program will accept proposals on a continuous basis beginning in spring 2026 until the available loan guarantee room is fully allocated. 

Before applying, we welcome you to contact our team at FNEFProgram@gov.bc.ca to discuss your project, explore eligibility or seek guidance on the intake and application process.

To access the online form, you will need to log in with a Business BCeID. Please review the Program Guide (PDF, 6.7MB) for detailed instructions on setting up a BCeID. Note that it can take a few business days to receive a BCeID once registered, and multiple users should be set up to avoid access issues. 

Applicants will follow a three‑stage application process:

Stage one – pre-screen intake

Applicants complete a Pre-Screen Intake Form which will provide preliminary project information and includes a self‑assessment questionnaire. This helps assess eligibility, readiness, and alignment with program goals. If your project is selected to proceed to Stage Two, an emailed invitation will be sent to the project contact, including a link to the screening application. An invitation to submit a Stage Two application does not guarantee that a project will be selected for a loan guarantee.

Stage two – screening application

Applicants provide detailed information on the project’s operational structure, ownership arrangements, financial projections, and commercial readiness. Projects are assessed and a decision package is created for review by the program’s Selection Committee.

Projects will be considered against the following prioritization criteria:

• Need for Loan Guarantee: How essential the guarantee is to secure equity and advance the project
• Economic and Social Impact: Jobs, revenue, broader economic effects, community benefits, and alignment with government priorities
• Funding and Partnerships: Ability to leverage federal or private funding, address urgent needs, and support partnerships
• Project Readiness: Current readiness or a clear, credible plan to reach it
• Risk and Feasibility: Financial and technical risk, strength of the business case, governance, and team experience

Projects that align with the above criteria and program goals may be selected and invited to proceed to Stage Three for full due diligence. Meeting program eligibility requirements does not guarantee that a project will advance to Stage Three or receive a loan guarantee.

Stage three – due diligence review

Selected projects will undergo comprehensive due diligence comparable to commercial lending, including detailed financial, legal, commercial, and technical analysis. Applicants who successfully pass this stage will be invited to negotiate the specific terms of a loan guarantee for the project.

To begin the application process, applicants must complete and submit the Pre-Screen Intake Form online. Before completing the form, please review the Program Guide (PDF, 6.7MB) or contact a staff member at FNEFProgram@gov.bc.ca to learn more about the application and assessment process. 

Frequently asked questions

A list of frequently asked questions (PDF, 353.7KB) about the program, application process, and eligibility will be regularly updated on this page.