Ministerial Loan Guarantees
“Indigenous Services Canada”
The funder does not disclose this information
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Ministerial Loan Guarantees (MLG) are an essential requirement to secure most on-reserve housing loans. The Crown ownership of First Nations lands makes it difficult for community members to obtain financing for housing construction or mortgages. As a result, housing loans made by private financial institutions on reserves cannot be secured by conventional mortgages.
- MLGs are a tool to assist First Nations in accessing loans for housing on reserve. Reserve lands are held by the Crown for the use and benefit of First Nations, as set out in the Indian Act.
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