NATASHQUAN, QC, Sept. 14, 2016 /CNW/ - Montagnais de Natashquan are taking another important step forward for their community this summer, with the successful acquisition of $19.3 Million in financing for critical development projects, obtained in partnership with The Usand Group – a capital firm based in Winnipeg, MB that specializes in First Nations finance.
An arena is the first of many projects Natashquan plans to immediately carry out with the new financing, along with an addition to the school, updates to the local outfitters - 'Pourvoirie Hipou' - and new housing. Future projects also include an industrial park, a mechanical service garage, and a new Administration office.
"Thanks to the advice of the experts at Usand, our First Nation has been able to achieve all of its financial potential represented in the 2008 Nanemessu-Nutashkuan Agreement – the cornerstone of our communities' economic development.," said Chief Rodrigue Wapistan. "This agreement gave us powerful economic leverage, by allowing us to engage with a recognized financial institution for a multi-million-dollar loan to carry out many beneficial projects. These projects will raise the quality of life for all members of our community."
Chairman and CEO of The Usand Group, Sean McCoshen, is extremely excited about the work done here: "The goal of Usand is to assist First Nations in obtaining access to capital on an unprecedented level. We design a custom-built financing package and then work with lenders to offer funds based on that purpose-build structure. In this way, communities like Natashquan are able to receive a financing package that is specialized for their needs and is formatted to truly help them grow, both economically and socially, instead of taking on debt that hinders development. I am proud to say that we were able to get an offer of financing within 9 days by working with a firm called Bridging Finance Inc., so that we could get projects built faster and bring success earlier. Natashquan is now taking the first steps forward on an amazing new path."
"The financing we provided here helped to jumpstart development," says David Sharpe of Bridging Finance Inc. "We could not be more proud to have partnered with Natashquan and Usand on this project, ensuring the community could capitalize on their opportunities by providing fast, flexible financial solutions."
Chief Wapistan sees a bright future ahead for his community, thanks in part to the work done here: "The financing agreement we have just signed is a major step for our First Nation. It will lead us on the path of realistic, ambitious and progressive development. It also allows us to let our neighbors, other First Nations and governments know we are confident in our abilities and ambitions and are the true masters of our collective destiny. Nutaskuan's long- term development vision takes into account the benefits of a respectful partnership and the added benefits of an inclusive approach. This includes collaboration with the surrounding municipalities and interested private sector companies with regards to development on its territory. Nutashkuan First Nation is open and ready to receive business offers that are environmentally friendly, collective and sustainable for the whole community."
The new Arena is projected to hold its grand opening in the Fall of 2016.
The Usand Group is a capital firm that secures innovative and customized financial solutions for First Nation, Inuit, and Métis communities. Working alongside community members every step of the way, Usand collaborates to find financial solutions that fit the needs, capacity and strengths of each nation. These solutions are designed to enhance the financial and social wealth of the community and create a sustainable path to full participation in the global economy.
SOURCE The Usand Group, Head Office
For further information: Erinn Mah, Chief Operating Officer, [email protected], 204-942-0020