NACCA: Banking The Indigenous Entrepreneurs Powering Canada

Shannin Metatawabin, CEO of NACCA, on 55,000 Indigenous business loans at a 97% repayment rate and the fund that pays investors first.

The National Aboriginal Capital Corporations Association is Canada's national body for more than 50 Indigenous financial institutions.

Over 35 years, the network has made 55,000 loans to Indigenous entrepreneurs and small businesses, with a 97% repayment rate that Shannin notes outperforms the commercial banks.

Annual lending has risen 60% since 2024.

The Indigenous Growth Fund, NACCA's institutional vehicle, closed its first round at C$153M with the Government of Canada and three federal crown corporations as anchor investors.

A second fundraise is now under way.

What this episode covers:

• Fund mechanics and LP access: an evergreen structure where investors are paid first, with a Canadian LP as the established entry route for UK and European institutions.

• Network scale and credit quality: 55,000 loans, C$3.6bn deployed, 60% annual lending growth, and OECD recognition across 80 member states as a global best practice model.

• Canada's major project pipeline: a C$10bn government guarantee for Indigenous community equity ownership in major projects, with the NACCA lending network as the small business supplier base those projects depend on.

Drumbeats is the podcast of the Canadian Indigenous Investment Forum. More at canadianindigenousinvestmentforum.org.