Access to capital is a particular challenge for Indigenous people, given that many groups are unable to use their land as collateral and Individuals are much less likely to have a house to use as security (only 30% of the Indigenous community are home owners compared to 70% of the general population). There is also perceived risk of lending to Indigenous businesses.
There is no flexible capital over $20k for Indigenous enterprises to start up and grow if they don't have assets to use as security.
First Australians Capital is raising funds for a bank guarantee that Indigenous entrepreneurs can use as guarantee security for up to two years when taking out a business loan.
Your donation will be invested in this bank guarantee. Interest generated by the fund is used to pay our modest operational costs ensuring that as the bank guarantee grows we become totally self funding.
Donations are fully tax deductible.