Nord-Aski Regional Economic Development Corporation – Loan Guarantees & Equity Participations
Description:
Nord-Aski REDC provides loan guarantees and equity participation to area businesses who contribute to the creation and/or maintenance of long term employment in the communities it serves.
Comments on Funding:
No other details available.
Eligibility:
Applicants must be:
Applications Steps:
Applicants must:
Other Things to Note:
- Nord-Aski REDC promotes economic growth in four Northeastern Ontario municipalities and the Unincorporated Territories along Highways 11 and 631. The region covers approximately 25,900 square kilometers and it includes:
a) Constance Lake First Nation,
b) Town of Hearst,
c) Township of Hornepayne, and
d) Municipality of Mattice-Val Côté. - A FedNor investment of $455,000 will enable Nord-Aski to administers the Northeastern Ontario Investment Pool for a three-year period on behalf of the 13 partner CFDCs in the region. The Investment Pool provides term loans, patient capital and equity financing to qualifying small and medium-sized businesses in the region. This shared lending approach reduces the risk to participating CFDCs and allows them to support strategic and larger-scale projects by offering business financing up to a maximum of $500,000.
When It Ends:
Ongoing
Deadline:
Rolling deadline