ANZ has announced its First Nations Guarantee program, which unlocks access to capital for First Nations startups and existing business, has reached $150 million in asset finance lending.

First established in 2018 by ANZ in partnership with mining company Fortescue Metals Group, the program has since expanded to include other mining companies, giving First Nations startups and existing businesses the opportunity to invest in growth, expand their operations, acquire assets, and drive economic growth.

Over the past seven years the program has supported 35 Western Australia-based First Nations businesses, allowing them to secure essential assets including machinery, equipment, property, and vehicles while expanding infrastructure and creating jobs.

ANZ's Head of First Nations Strategy (Australia), Noongar woman Shelley Cable, said the First Nations Guarantee "has become Australia's single most successful program for lending to First Nations businesses at scale".

"It significantly increases the finance available to First Nations businesses, and this $150 million lending milestone demonstrates the ongoing need for finance, to fund the rapid growth occurring within Australia's First Nations economy," she said.

ANZ said First Nations businesses face unique challenges in securing finance from traditional lenders and financial institutions, such as lower intergenerational wealth and financial inclusion, as a result of systemic financial and economic exclusion.

It says initiatives such as the First Nations Guarantee provides crucial financial support, enabling businesses to purchase their assets rather than rent, and helping those without an extensive credit history or collateral to build a stronger asset base for long-term sustainability.

"Being able to extend finance allows participating First Nations businesses to start and scale rapidly," Ms Cable said.

"This milestone signals a shift towards a greater role for First Nations businesses across the economy, where Indigenous enterprises are key drivers of growth and innovation."

ANZ is encouraging more institutional and large corporate businesses to join as guarantors, to strengthen the financial ecosystem for First Nations businesses.

ANZ's Managing Director, Corporate Finance for Institutional Banking, Christina Tonkin said the First Nations Guarantee commended the program.

"Collaborating with our large Institutional customers demonstrates the collective impact we can have, when large organisations combine their financial strength and scale in support of First Nations economic growth," Ms Tonkin said.

"We're proud to work alongside partners like Fortescue, and we see a clear opportunity for more institutional businesses to play a role in unlocking capital, capability and long-term growth in the First Nations economy.

"Becoming a guarantor supports First Nations economic growth while strengthening procurement pipelines with a more diverse and resilient supplier base."

The First Nations Guarantee is one of several ANZ initiatives which supports the First Nations economy through its Australian First Nations Strategy.