Key Principles
Indigenous governance
We operate with a diverse board of directors and executive team with robust Indigenous representation.
Geographic diversity
We are committed to supporting Indigenous groups across the country, ensuring fair access to the program for groups from coast to coast to coast.
Efficiency and timeliness
We aim to work at the speed of business, ensuring the Indigenous Loan Guarantee Program aligns with the timelines of Indigenous groups, project developers and lenders.
Early engagement
We are able to connect with potential applicants to the program early in the process. By getting involved before applications are submitted, we can provide guidance on financing and risk and set projects up for success.
Robust due diligence
We carefully assess each application and work with applicants to identify any risks or gaps. If more information is needed, we will guide applicants on next steps.
Program stacking
Where possible, we work to align our program with provincial loan guarantee programs, allowing Indigenous groups to combine support for larger, more impactful opportunities.
Eligibility
The Indigenous Loan Guarantee Program (ILGP) is designed to support the acquisition of equity stakes in major projects. It is open to Indigenous groups with recognized Section 35 rights. The program supports a range of projects across the country. Our goal is to ensure that Indigenous Peoples, regardless of their location, can benefit from this opportunity to advance economic reconciliation and self-determination.
The Canada Indigenous Loan Guarantee Corporation will consider applications that meet the following criteria:
- Applicants: Only Indigenous groups, or their wholly owned subsidiaries, are eligible to apply. Applications must include a clear statement of support from the group’s leadership, such as a band council resolution or other formal decision document used by Métis, Inuit, or self-governing Indigenous groups.
- Section 35 Rights: Applicants must have credibly asserted or affirmed rights under section 35 of the Constitution Act, 1982. Screening is exclusively for the purpose of determining loan guarantee eligibility and is not intended to be a rights-determination process.
- Geographic Relevance: Applicants must have credibly asserted or affirmed section 35 rights in the project area, or the project must impact section 35 rights of the applicant. In cases where the applicant is a consortium of section 35 rights holders, a minimum of 25 per cent of the value of the investment must be contributed by Indigenous groups that meet this geographic impact criterion.
- Major Projects: Investments must be in a major project, defined as a large-scale or capital-intensive initiative that involves the development, construction, or acquisition of significant in situ physical infrastructure or assets and derives its revenue and cash flow primarily from the operation, leasing, or commercial use of those assets over time. Projects in the gaming and casino sector are not eligible.
- Guarantee Thresholds: Generally, applicants must be seeking a minimum guaranteed amount of $20 million to a maximum amount of $1 billion.
- Financial Separation of Investments: Applicants must confirm that investments will be made into financially ring-fenced assets or operations, which will be subject to confirmatory diligence. In some cases, there may be a requirement to restructure the assets or operations into separate legal entities to facilitate independent financial reporting and cash flow management.
In addition, the Canada Indigenous Loan Guarantee Corporation will prioritize applications based on the following considerations:
- Investment-Ready: Priority will be given to investment opportunities that are well-advanced and positioned to proceed without delay. Applicants should demonstrate that substantial diligence, transaction negotiation and structuring work has been completed, reflecting overall readiness for investment.
- Demonstrated Cash Flow: Investments should be structured to generate stable cash flow, sufficient to repay the acquisition financing. Projects should be able to demonstrate predictable and stable cash flow which may be achieved through instruments such as power purchase agreements, delivery contracts, and offtake agreements, where applicable.
- Projects of National Interest: Nation-building projects referred to the Major Projects Office will be prioritized by the Canada Indigenous Loan Guarantee Corporation, where appropriate.
Application Process
If you are interested in applying for a loan guarantee through the Indigenous Loan Guarantee Program (ILGP), please first review the Applicant Guide to understand program requirements and documentation. Applicants are strongly encouraged to contact our team to discuss their specific investment opportunity in advance of submitting a formal application, further details on how to engage with us are available on the Contact Us page.
Applying for an ILGP guarantee involves a thorough assessment of your project’s commercial and financial viability. We review applications and conduct due diligence to ensure each project meets the program’s standards. Early engagement helps improve the strength and completeness of your submission.
1
Expression of Interest
Submit an Expression of Interest. CILGC will review the submission to assess alignment with program eligibility and overall project viability, and may invite you to submit a full application.
2
Application
CILGC will work with you to complete the application form. Once finalized, the application will be submitted for review.
3
Eligibility & Prioritization
Your application will be assessed against program eligibility requirements. A decision will be made on whether to advance to due diligence.
4
Due Diligence
CILGC will perform detailed due diligence across key areas, including financial, commercial, legal, and operational.
5
Guarantee Term Sheet
Subject to completion of due diligence, a draft term sheet will be issued and negotiated.
6
Approval
Following agreement on terms, a final decision will be made, including approval from the Minister of Finance.
7
Monitoring
Required community approvals (e.g., Band Council Resolutions or equivalent) will be obtained. Definitive documents will be finalized and signed, financing will be completed, and the loan guarantee will be issued.
8
Ongoing Monitoring
CILGC will monitor the loan guarantee for its duration to ensure compliance with key financial and commercial terms.