It is a competitive, merit-based program and three types of LALC Business Enterprise Funding are available:
Business Development Funding: Up to $50,000
The NSWALC will make funding available to develop and validate business concepts, proposals and strategies through feasibility studies, business planning and other such foundational activities.
Early Stage Investment Loans: Up to $500,000
The NSWALC will make available start-up capital to fund early stage business operations and to attract and leverage additional capital through co-investment from other sources. This capital will be provided as no interest or low interest loans, structured so that repayments are not due until certain agreed profitability levels are reached, with terms and conditions tailored appropriately to each loan, such as agreed schedules of milestone payments. Applicants must be ‘investment ready’ - meaning the LALC has completed its own business planning/feasibility work, and has identified other investment sources from other sources if needed.
Equity Investment: Up to $2 million
The NSWALC will also work to provide creative solutions for capital funding of large and lower-risk enterprises. Such solutions will be aimed at attracting co-investment from other sources and would involve the NSWALC taking an equity and possible management position in such enterprises.
The NSWALC understands that the Aboriginal Land Rights network in NSW needs to be responsive to business opportunities as they arise. Therefore, LALCs are invited to submit applications for funding as required. There is no deadline for when applications must be submitted.
For further information on the LALC Business Enterprise Program please contact NSWALC’s Program Implementation Unit on 02 9689 4444 or by emailing email@example.com