Maurice
Posted: January 20, 2022

Amount:

$500,000

Type of Program:

Loan


Description:

Nishnawbe Aski Development Fund provides financing to Aboriginal entrepreneurs and majority-owned Aboriginal businesses operating in Northern Ontario for starting up, establishing, expanding or acquiring a business.

Comments on Funding:

Funding is up to $500,000, and in exceptional cases, up to $1,000,000. The applicant will pay interest and other fees, if applicable. Interest rates vary from 8% to 12%.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Individuals and existing businesses can apply for financing. Individuals must:

  • Be individuals over the age of 18, who are of Aboriginal heritage (First Nations, Metis or Inuit)
  • reside in Northern Ontario;
  • be establishing a business in Northern Ontario.

Existing businesses must:

  • be wholly-owned or majority-owned (minimum 51%) Aboriginal businesses;
  • be based in Northern Ontario.

Applicants must provide a cash equity contribution (minimum 10% the applicants aged 18 to 35 and minimum 15% the applicants over 35 years old).

Applications Steps:

The applicant must:

1

Contact NADF to determine eligibility

2

Complete and submit NADF loan application and a business plan,

3

discuss their application with the Account Manager,

4

Provide additional information and/or clarification, if required.

Documentation Needed:

The applicant must complete and submit NADF loan application and a business plan.

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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