A new Indigenous investment fund has placed a $10-million stake with Nuu-chah-nulth Economic Development Corp., a Vancouver Island-based lender whose clients include fashion house Ay Lelum and the business development arm of Huu-ay-aht First Nations.
“There’s been growth in the average size of loans and the volume of loans. There’s been a lot of increase,” Mr. Little said.The IGF is a federally backed fund designed to boost investment in Indigenous-owned small-to-medium-sized enterprises. The company has won international acclaim for its designs but has struggled to borrow money to buy equipment and build a production facility, co-owner Sophia Seward-Good said.
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