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Indigenous and Northern Affairs committee  Well, this would allow those first nations to continue to be in good standing, and to continue to access future borrowings as they need them, to really build their economy. You have to remember that they are using their own-source revenues right now to build all this infrastructu

June 2nd, 2020Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  Thank you. I was about to say thank you because I was pretty well finished. I just had a sentence about projecting that if more first nations came forward with shovel-ready projects.... Of the 63 borrowing members, we estimated that 60 would come forward, and we estimate about

June 2nd, 2020Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  Thank you for the invitation. We are calling you from the Westbank First Nation Reserve. The FNFA was created in 2005 under the First Nations Fiscal Management Act, with all-party support. We are a not-for-profit Canada-wide pooled borrowing institution with direct access to the

June 2nd, 2020Committee meeting

Ernie Daniels

Finance committee  No, we haven't talked to anybody who is working in those areas. Usually it's because they don't know we exist. As we get more known, we're sure this is going to happen. We're talking with a lot of different governments across the country and looking at other things. We're looking

October 3rd, 2016Committee meeting

Ernie Daniels

Finance committee  We lend only on existing revenues, not future revenues.

October 3rd, 2016Committee meeting

Ernie Daniels

Finance committee  The first nations that come to our door to borrow have gone through a pretty rigorous process. Most of the first nations are pretty well organized, from a governance perspective as well as economically. They have their projects already in mind in terms of what they want to do. Ou

October 3rd, 2016Committee meeting

Ernie Daniels

Finance committee  It's a very good question. Just the nature of being on a reserve is a real impediment. You can't put up land or other assets as collateral. It's very, very difficult. I'm sure the credit union people would agree. That's the number one thing. The other thing, I think, is the lac

October 3rd, 2016Committee meeting

Ernie Daniels

Finance committee  One of the other things that the regime, the act, is doing is...we're looking at trying to get first nations involvement in large resource projects across the country, so pipelines, whatever. That's currently being looked at right now, so there's a lot of work. First nations are

October 3rd, 2016Committee meeting

Ernie Daniels

Finance committee  It's really interesting. Canada is so big and all the different economic activities from the different regions are different but very similar. A lot of first nations are really catching up. Infrastructure is a big thing. I think, number one, infrastructure for roads, for schools,

October 3rd, 2016Committee meeting

Ernie Daniels

Finance committee  Thank you very much. I just want to say, “Go, Blue Jays, go!” It's going to help our economy. Thank you, committee members. My name is Ernie Daniels. I have Steve Berna here with me. I'm the president and CEO and Steve is the COO. We're with the First Nations Finance Authority,

October 3rd, 2016Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  There are government transfers, business revenue, contracts, leases, municipal transfers.

March 12th, 2015Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  Yes, it just has to be legal.

March 12th, 2015Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  When I first started, they told me, “Just make sure it's legal.” One of the revenue streams that's not allowed is the GST revenue. Some first nations actually have arrangements with provinces and Canada about the GST. That's not an eligible revenue stream.

March 12th, 2015Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  We worked in concert with the banking syndicate and the investment community to develop different leverage factors for each type of eligible revenue stream that's allowed under the regulation. We assess a first nation. We review their financial statements, look at the eligible re

March 12th, 2015Committee meeting

Ernie Daniels

Indigenous and Northern Affairs committee  There is no collateral. We secure ties to revenue stream.

March 12th, 2015Committee meeting

Ernie Daniels