Acquisition of established businesses seen as a model of economic reconciliation
TORONTO, June 05, 2025 (GLOBE NEWSWIRE) — First Nations Bank of Canada (FNBC) and the Business Development Bank of Canada (BDC) today announced a $100M initiative to increase business acquisitions by Indigenous communities and economic development agencies across the country.
The timing is crucial as a significant number of Canadian entrepreneurs will retire in the next few years and are actively looking to sell their business built over decades. This creates a unique opportunity where there are more companies for sale than there are buyers. The new joint financing initiative, with an expected average deal size of $5M, will make business acquisitions much faster.
In the spirit of economic reconciliation, this initiative will enable Indigenous communities and economic development agencies to have more access to capital for business acquisitions and support majority-owned Indigenous businesses.
“When I took the helm of the FNBC two years ago, we decided as a team to accelerate growth opportunities for wealth creation in Indigenous communities. The unique demographic challenge we face over the next few years is a major opportunity for Indigenous communities and their economic development agencies. It will allow them to acquire companies with strong track records. And with Indigenous ownership, the companies will be more competitive for many reasons including procurement policies that favour Indigenous-owned businesses,” said Bill Lomax, President and CEO of the FNBC.
“The initiative between FNBC and BDC is a great example of how a common desire to take action towards economic reconciliation can lead to concrete business deals that benefit all players,” said Isabelle Hudon, President and Chief Executive Officer of BDC. “First Nations Bank has the trust of Indigenous communities across the country and know their unique needs the best. BDC will provide an innovative financing solution in collaboration with First Nations Bank to help Indigenous communities grow and make business acquisitions. Together, we can accelerate the rise of the next generation of Indigenous business champions.”
The number of Indigenous business owners is expected to grow by 23% in the next decade. They are one of the fastest growing segments of entrepreneurs in our country and more than double the 10% increase projected for other Canadian entrepreneurs. Fully engaging them could result in a significant annual increase in GDP of 1.5%.
This initiative is part of BDC’s Community Banking ambition launched last year. It provides financing and advice through trusted partners, aiming to have a multiplying impact, ignite entrepreneurship and reach 100,000 more entrepreneurs in the next 10 years. An initiative which complements BDC’s Inclusive Entrepreneurship team’s $50M loan envelope and a $100M investment platform to support Indigenous-led businesses, which will be operational in the coming months.
About FNBC:
Founded in 1996, First Nations Bank of Canada (FNBC) is a Canadian chartered bank focused on providing financial services to the Indigenous marketplace in Canada. FNBC is 88% Indigenous owned and controlled. The Bank offers Indigenous and non-Indigenous people, corporations and governments a full range of personal and business banking services including loans, mortgages, investments (registered and non-registered), transaction accounts and cash management as well as trust services through its wholly owned subsidiary, FNB Trust.
First Nations Bank of Canada is an approved member of the Canada Deposit Insurance Corporation, the Canadian Payments Association and is an approved mortgage lender with Canada Mortgage and Housing Corporation, as well as the First Nations Market Housing Fund.
About BDC: 80 years as Canada’s bank for entrepreneurs
BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC’s development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. BDC’s financing services in 2025 alone will add an estimated $25 billion in GDP to Canada’s economy over the next five years. We are one of Canada’s Top 100 Employers and Canada’s Best Diversity Employers, and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.
Media contacts
For BDC
Hélène Guillemette
Senior Advisor, Public Affairs and External Communications
BDC
1-844-625-8321 helene.guillemette@bdc.ca
For FNBC
Jed Johns
Chief Marketing Officer
First Nations Bank of Canada
(780) 267-2880 jed.johns@fnbc.ca
Rosemary Thompson
Communications Advisor
First Nations Bank of Canada
(613) 240-6739
rosemary@artfulstrategies.ca
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