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Why First Nations bank IBC is reaching out to the oilpatch

Why First Nations bank IBC is reaching out to the oilpatch – Formed nearly three decades ago with $7 million in seed funding from the federal government, IBC has offered development lending to 2,500 aboriginal businesses in the province in sectors as diverse as oil and gas, farming, hospitality, transportation.

IBC is an independent financial institution owned and overseen by 48 Alberta First Nations. Today, it has $13 billion in capital under management and 250 clients.

CALGARY • It takes money to make money, but for Canada’s aboriginal entrepreneurs, it also takes unique financing. An ’emerging market’ at home: Canada’s banks making a big push into aboriginal communities Banks in Canada are enthusiastically chasing the expected economic growth in Canada’s native communities – and eyeing the billions of dollars in land claim…


 

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