Type of Program:
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:
Individuals and existing businesses can apply for financing. Individuals must:
Existing businesses must:
Applicants must provide a cash equity contribution (minimum 10% the applicants aged 18 to 35 and minimum 15% the applicants over 35 years old).
The applicant must:
Contact NADF to determine eligibility
Complete and submit NADF loan application and a business plan,
discuss their application with the Account Manager,
Provide additional information and/or clarification, if required.
The applicant must complete and submit NADF loan application and a business plan.