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More about the Indigenous Capital Assistance Scheme

We are proud to be in partnership with the Department of Education, Employment and Workplace Relations to offer eligible indigenous businesses financial and advisory support.

The scheme provides business advisory and mentoring services to assist in the development of a business.

We provide finance from $20,000 to $500,000 with subsidised interest for the first three years.

What types of finance are available under the scheme?

We offer the following solutions to help meet the different financing needs of indigenous businesses:

• A business overdraft that can be used to smooth out fluctuations in cash flow, with easy access to a line of credit
• A Business Loan that lends a set amount with repayments over a term of up to 25 years with a choice of variable or fixed interest rates
• Equipment finance that allows you to have the equipment you need now without draining your capital base or placing a burden on your cashflow.  A finance agreement is structured to suit your cash flow.

Provision of reimbursements

• Loan establishment and documentation fees (up to $820)
• Fees for professional services purchased from accredited and registered accountants, lawyers, tax advisers and training from a registered training organisation.

Is my business eligible to apply?

To apply for the scheme, your business must:

• Have an Australian Business Number 
• Be at least 51% indigenous Australian owned (for companies this refers to shareholders), or for a partnership of 2 people, at least 1 partner must be an indigenous Australian
• Employ at least 50% indigenous Australian employees
• Use funds for the establishment of a new business, expansion or acquisition of an existing business that will lead to an increase in indigenous employment
• Have a lawful business, in accordance with the Indigenous Capital Assistance Scheme guidelines and be culturally or socially appropriate in the relevant local community
• Not be insolvent or in undischarged bankruptcy
• Not have more than $500,000 of Indigenous Capital Assistance Scheme subsidised financial products at any time.

Find out more

Visit a participating Westpac branch or call the Indigenous Employment hotline on 1802 102.