{"id":12391,"date":"2025-08-12T12:18:31","date_gmt":"2025-08-12T19:18:31","guid":{"rendered":"https:\/\/www.fnfa.ca\/?post_type=fnfa_faq&#038;p=12391"},"modified":"2025-10-24T10:27:41","modified_gmt":"2025-10-24T17:27:41","slug":"what-is-the-eligibility-criteria-for-an-spv-to-be-eligible-for-a-loan-from-fnfa","status":"publish","type":"fnfa_faq","link":"https:\/\/fnfa.ca\/en\/fnfa-faq\/what-is-the-eligibility-criteria-for-an-spv-to-be-eligible-for-a-loan-from-fnfa\/","title":{"rendered":"What is the eligibility criteria for an SPV to be eligible for a loan from FNFA?"},"template":"","class_list":["post-12391","fnfa_faq","type-fnfa_faq","status-publish","hentry"],"acf":{"answer":"<ul>\n<li>The eligibility criteria are purposefully intended to not be restrictive. If the SPV qualifies for a guarantee under an Indigenous loan guarantee program, then the SPV would generally be eligible for a loan from FNFA, subject to FNFA undertaking of its own due diligence in determining whether to issue the loan.<\/li>\n<li>The eligibility criteria for an SPV as outlined in the current proposed draft legislative amendments are as follows. Please note the amendments are subject to change as discussions are ongoing with CIRNA and other stakeholders such as the FMB.\n<ul>\n<li>A <strong>\u201cqualified SPV\u201d<\/strong> means a body corporate, corporation or limited partnership that is wholly owned, directly or indirectly, by one or more band(s) within the meaning of the Indian Act, First Nation(s) within the meaning of the Act, or Indigenous group(s) that is a party to a treaty, land claims agreement, self-government agreement with Canada.<br \/>\nThe Authority shall not make a loan to a borrowing member that is a qualified SPV unless the Authority is satisfied that<\/p>\n<ul>\n<li>the borrowing member has the ability to repay the loan;<\/li>\n<li>repayment of the loan is guaranteed by His Majesty or a Crown corporation.*<\/li>\n<li>the borrowing member and the Authority have established a secured revenues trust account that is managed by a third party approved by the Authority and subject to terms that require the third party managing the account to periodically pay to the Authority the amounts required to be paid to it under the borrowing agreement with the borrowing member, at the times set out in that agreement, before paying any remaining amount to the borrowing member; and<\/li>\n<\/ul>\n<\/li>\n<li>The borrowing member has required the payers of the other revenues being used to secure the loan to deposit those other revenues into the secured revenues trust account or an intermediate account during the period of the loan.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>*Note: the guarantee may be provided either by the Federal government, a province, a federal corporation or a provincial corporation.<\/p>\n"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is the eligibility criteria for an SPV to be eligible for a loan from FNFA? 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