NADF Loans (2022)

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%.

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:

Documentation Needed:

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

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