Indigenous Capital Assistance Scheme (ICAS)

The Indigenous Capital Assistance Scheme?

The Indigenous Capital Assistance Scheme (ICAS) offers Indigenous businesses access to commercial finance, and appropriate professional and mentoring support services.  The economic opportunities created through ICAS may support improved employment opportunities for Indigenous Australians. 

The scheme began in 2004 with 22 Westpac ICAS offices managing the programme in branches in all capital cities and regional areas throughout Australia.

Financial and support services

Financial support for loans ranging from $20 000 to $500 000 is available over three years together with business advisory and mentoring support services.

Financial support includes:

• an interest rate subsidy
• a subsidy on part of the bank’s application and establishment fees
• a professional and mentoring support services subsidy.
  

What types of finance are available?

• business overdraft options
• business development loans
• finance for capital items.

Since the program began, over 65 Indigenous businesses in industries as diverse as tourism, transport, agriculture, construction, retail, trade and accommodation. The loans to Indigenous businesses have ranged in size up to $500 000 and have been to buy equipment and purchase assets.

Eligibility:

To be eligible for ICAS, Indigenous businesses must comply with the participating financial institution’s lending criteria, and the ICAS eligibility criteria.

More Information:

Call the Indigenous Employment Line on 1802 102

Read the Indigenous Capital Assistance Scheme Fact Sheet (  PDF 65KB |  RTF 141KB )