{"id":48,"date":"2019-12-12T00:17:07","date_gmt":"2019-12-12T00:17:07","guid":{"rendered":"https:\/\/www.fnfa.dev4.oracastdev.com\/?page_id=48"},"modified":"2026-01-29T12:51:30","modified_gmt":"2026-01-29T20:51:30","slug":"borrowing-documents-bcrs","status":"publish","type":"page","link":"https:\/\/fnfa.ca\/en\/for-first-nations\/financing\/borrowing-documents-bcrs\/","title":{"rendered":"Become a Member"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"319\" src=\"https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/04\/final-02-1024x319.png\" alt=\"\" class=\"wp-image-3047\" srcset=\"https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/04\/final-02-1024x319.png 1024w, https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/04\/final-02-300x93.png 300w, https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/04\/final-02-768x239.png 768w, https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/04\/final-02-1536x478.png 1536w, https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/04\/final-02-2048x638.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n<div class=\"row cntBlock col2block\" id=\"col2block-block_f46f4470a61f1086fe16f31bf1318f87\">\n\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t<h3>Other Revenues Borrowing<\/h3>\n\t\t\t\t\t\t\t\t<p>Here you will find the template documents that you will need to start borrowing through FNFA. The very first step to getting involved is to request that your community be scheduled (added) to the\u00a0<em>First Nations Fiscal Management Act<\/em>\u00a0legislation.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t<p>When you click on the links below, a new window will open with the document in it. You can print, save, or view the document templates on-screen.<\/p>\n<ol>\n<li><a href=\"https:\/\/fnfa.ca\/wp-content\/uploads\/2025\/12\/FN_L-to-Minister-Request-Addition-to-FMA-Schedule-2025-12-16.doc\">Cover Letter to the Minister of CIRNAC \u2013 Request to be added to the Schedule<\/a><\/li>\n<li><a href=\"https:\/\/fnfa.ca\/wp-content\/uploads\/2025\/12\/BCR-to-Be-Scheduled-Revised-Nov-2021.doc\">Band Council Resolution (BCR) to Request to be Scheduled<\/a><\/li>\n<li><a href=\"http:\/\/www.fnfmb.com\/\">Visit FMB\u2019s Website<\/a><\/li>\n<\/ol>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\n<div class=\"row cntBlock stackblock\" id=\"stackblock-block_81fbefc60a3fe27246aadf45e6bc1914\">\n\t<div class=\"col-12 col-lg-5 offset-lg-1 order-1 order-lg-2\">\n\t\t<div class=\"stackImg\">\n\t\t\t<img decoding=\"async\" src=\"https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/02\/fnfa-borrowing-process-1.jpg\" alt=\"\" \/>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"col-12 col-lg-6 order-2 order-lg-1\">\n\t\t<h3><\/h3>\n\t\t<p><strong>FNFA receives loan requests from First Nations<\/strong> that are borrowing members.\u00a0 FNFA utilizes its credit facility through its banking syndicate to fund member requests as they are needed. Most loans start in the bridge financing program (floating rate loans that require interest only payments) and then transition into fixed rate debenture loans (that require both interest and principal payments) when FNFA issues its next debenture.<\/p>\n\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"row cntBlock stackblock\" id=\"stackblock-block_2375284cedc7a4a3ea59d7b8da0f4d8a\">\n\t<div class=\"col-12 col-lg-5 order-1\">\n\t\t<div class=\"stackImg\">\n\t\t\t<img decoding=\"async\" src=\"https:\/\/fnfa.ca\/wp-content\/uploads\/2020\/01\/mask.png\" alt=\"\" \/>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"col-12 col-lg-6 offset-lg-1 order-2\">\n\t\t<h3><\/h3>\n\t\t<p><strong>Following the FNFA Board\u2019s authorization<\/strong> to proceed with a debenture issuance, FNFA will meet with its banking syndicate who will advise on the willingness of the capital market investors to lend. When the time is right, FNFA, through the banking syndicate will issue a debenture to be purchased by the investors.<\/p>\n<p><em>FNFA\u2019s debentures are purchased by institutional investors in Canada, the USA, and Europe.<\/em><\/p>\n\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"row cntBlock col3block\" id=\"col3block-block_ede81dcb84d2828826ab2257cf1171a2\">\n\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t<h3>Relending Process<\/h3>\n\t\t\t\t\t\t\t\t<p>Once the debenture issue has been sold through the syndicate to the investors, the proceeds will be used to repay the bridge financing loans or will be sent to the FNFA borrowing member. During the life of a debenture issue, the cash collected from FNFA\u2019s borrowing members will be sufficient to cover FNFA\u2019s liability to the investors.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t<h3>Sinking Funds<\/h3>\n\t\t\t\t\t\t\t\t<p>FNFA\u2019s policy is to relend on a sinking fund basis. A sinking fund is where the principal and interest payments each year by the borrowing member remain constant. The sinking fund consists of the principal portion of the loan payments collected from the borrowing members. These principal payments are not due to be paid to the investors until the end of the debenture (usually 10 years), and so these principal monies are invested. The earnings on these investments are credited to FNFA\u2019s borrowing members, helping them repay their loans quicker. Interest payments collected from each borrowing member, however, are paid every six months to the debenture investors. Borrowing members will receive regular statements on each debenture issue in which they are participating so the accounting records are complete.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t<h3>Debt Reserve Fund<\/h3>\n\t\t\t\t\t\t\t\t<p>In addition to the sinking fund, a Debt Reserve Fund (DRF) is established to assure enough funds are available to meet all principal, interest or sinking fund payments obligations. Each borrowing member requesting a loan will, as a condition of participating, contribute an amount equal to 5% of the total amount borrowed into the DRF. The DRF is a critical safeguard to FNFA achieving an investment-grade credit rating, which means lower interest rates for our borrowing members. This safeguard is the first line of defense against a missed or insufficient loan payment from a FNFA borrowing member. Once a borrowing member has made all its loan service payments in full and the loan is repaid, this 5% plus earnings are returned to each borrowing member.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":38,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","footnotes":""},"class_list":["post-48","page","type-page","status-publish","hentry"],"acf":{"tagline":"","header_background_color":"","title_replace":"","banner_image":{"ID":13862,"id":13862,"title":"fnfa-become-a-member","filename":"fnfa-become-a-member.webp","filesize":170272,"url":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member.webp","link":"https:\/\/fnfa.ca\/en\/for-first-nations\/financing\/borrowing-documents-bcrs\/fnfa-become-a-member\/","alt":"","author":"1","description":"","caption":"","name":"fnfa-become-a-member","status":"inherit","uploaded_to":48,"date":"2026-01-29 20:51:22","modified":"2026-01-29 20:51:22","menu_order":0,"mime_type":"image\/webp","type":"image","subtype":"webp","icon":"https:\/\/fnfa.ca\/wp-includes\/images\/media\/default.png","width":1920,"height":750,"sizes":{"thumbnail":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member-150x150.webp","thumbnail-width":150,"thumbnail-height":150,"medium":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member-300x117.webp","medium-width":300,"medium-height":117,"medium_large":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member-768x300.webp","medium_large-width":640,"medium_large-height":250,"large":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member-1024x400.webp","large-width":640,"large-height":250,"1536x1536":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member-1536x600.webp","1536x1536-width":1536,"1536x1536-height":600,"2048x2048":"https:\/\/fnfa.ca\/wp-content\/uploads\/2026\/01\/fnfa-become-a-member.webp","2048x2048-width":1920,"2048x2048-height":750}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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