Indigenous Business Australia Chair Darren Godwell has apologised for the organisation's past failings and outlined reforms aimed at rebuilding trust through faster decisions, new lending products and streamlined operations.

Speaking on day two of the AEMEE (Aboriginal Enterprises in Mining, Energy and Exploration) Conference on Larakia Country in Darwin, Mr Godwell said the agency's focus is on deploying capital more efficiently and strengthening relationships with Indigenous clients and partners.

"I need to apologise to each of you if that has been your experience with IBA," he said.

"There wasn't the trust or confidence from the ministers of the day in IBA. That failure, even with some of you here, has caused stress and distress - and it has got in the way of you doing what you need to do."

Mr Godwell, who became Chair in January this year, issued the apology as IBA begins a new phase focused on modernising systems, cutting red tape and improving turnaround times.

Legislative change opens access to capital markets

Mr Godwell said IBA's founding legislation was amended in February to remove a clause that had prevented the organisation from raising funds on capital markets.

"We were given an economic purpose and then the door to the capital markets was closed to us," he said.

"They didn't trust IBA with the power to go into the capital markets. That has now changed."

He added that the restriction had remained in place despite repeated requests over seven years.

With the change, IBA can now seek capital from institutional investors, superannuation funds and private markets to support Indigenous housing, infrastructure and enterprise.

Expanding access through new loan products

Mr Godwell said IBA's assets total about $2.4 billion and almost 90 per cent of its operating budget is funded through repayments from Indigenous homeowners and business clients.

"Our clients and customers are Indigenous men and women and Indigenous businesses. That is where IBA's funding comes from," he said.

"The hardest part is deploying capital, getting it out the door."

To broaden access, IBA is developing new products, including a mortgage tailored for single-income households - most of which are led by Indigenous women - and a home-loan product for Indigenous professionals who can service a mortgage but face affordability barriers.

"For most Australians, the single greatest generator of wealth is their home," Mr Godwell said.

Mr Godwell said IBA is also working on business finance for mergers and acquisitions so Indigenous companies can buy competitors, acquire capability and increase market share. He invited businesses to approach IBA where such opportunities exist.

Apology and operational reform

During a discussion, Djarindjin Aboriginal Corporation CEO Nathan McIvor expressed frustration at bureaucratic hurdles faced by his Corporation to access a relatively small loan through IBA.

Mr Godwell responded: "I really do have to apologise if that's been your experience ... When I put to the minister a series of reforms, it was in recognition of the experience that you and others have been put through. We have to do better."

He added that IBA is bringing in capability partners to support internal transformation and modernise approval processes, and indicated that if organisations are struggling to secure relatively small amounts, processes at IBA need to change to ensure timely decisions.

Mr Godwell also said a refreshed board and a new chief executive are focused on improving efficiency and aligning operations with IBA's expanded investment powers.

Long-term investment and partnerships

Mr Godwell said IBA will continue to pursue patient capital (long-term investment in infrastructure and common-use assets on Country).

He referred to IBA's partnership work in the Northern Territory, including with Larrakia partners, to identify assets suitable for Indigenous co-investment, and noted the possible acquisition of Darwin Port as an example under discussion.

He said projects with equity participation from Traditional Owner groups can improve certainty.

"Joint ventures with Traditional Owner equity or partnership actually reduce risk and bring stability," he said. "But you have to be willing to stomach some of that risk."

Mr Godwell encouraged Indigenous corporations to seek participation in the financial side of major projects.

"If proponents want your consent, then ask to participate," he said. "We'll work with you to structure the capital in behind."

He said IBA will support Traditional Owner groups to access the same information as institutional investors and to participate in the financial decisions affecting their land.

Rebuilding confidence through delivery

Mr Godwell said IBA will focus on quicker loan approvals, clearer client communication and publishing data on Indigenous economic activity.

"We have the tools now," he said. "The question is whether we can use them with confidence - and whether you trust us to."

He said priorities include expanding home ownership, improving business-finance options and ensuring new investment powers translate into outcomes for Indigenous communities.

"The economy is fuelled by capital," he said. "You can have the vehicle and the road, but without fuel, you are not going anywhere."

Mr Godwell said IBA's reforms aim to create a more responsive and trusted organisation.

"Our goal is to make capital available and aligned with Indigenous aspirations," he said.

"The reforms are about action - making sure Indigenous Australians have the capital to build, own and grow."