TORONTO, May 12, 2023 (GLOBE NEWSWIRE) — The Canadian Council for Aboriginal Business (CCAB) Indigenous Women Entrepreneurship Fund (IWEF) was established to assist Indigenous women, who traditionally face significant barriers to accessing finance through mainstream means were faced.

The fund, provided by LNG Canada with a contribution from Paper Excellence, is open to indigenous women-owned businesses that have encountered systemic barriers to lending and have been impacted by the pandemic.

“Women play a crucial role in realizing the economic prosperity of indigenous peoples. Nevertheless, securing affordable financing remains one of the most difficult challenges for indigenous women entrepreneurs. Lack of access to networks and financial institutions, property as collateral and credit are all factors we must overcome,” says Tabatha Bull, President and CEO of CCAB. “We are pleased that LNG Canada and Paper Excellence are taking meaningful action to support Indigenous women entrepreneurs and contribute to the growth of the Indigenous economy.”

CCAB research has shown that access to adequate credit and credit is one of the main barriers facing indigenous businesses. CCAB’s 2021 Indigenous Business Survey, Phase II: Indigenous Women Entrepreneurs found that nearly half (47 percent) of Indigenous women-run businesses report no current lending relationships with financial institutions, compared to nearly a one-third of those run by Indigenous women men-run companies.

“LNG Canada is committed to supporting the advancement and empowerment of Indigenous women entrepreneurs. The economic empowerment and inclusion of Indigenous women is a direct response to calls for justice,” said Hope Regimbald, Director of Indigenous and Stakeholder Relations at LNG Canada. “Access to capital and funding is critical, which is why the opportunities offered by the Indigenous Women Entrepreneurship Fund are so important. We commend the Canadian Council for Aboriginal Business for their efforts to…