NADF Microloans (2022)

Description:

NADF Microloans help small business owners cover startup costs and other small expenses. Microloans are geared towards helping new and small businesses, so the requirements are more flexible.

Comments on Funding:

Funding ranges from $1,000 to $7,500.

The applicant will pay a flat interest rate of 8%. The application fee is waived.

Eligibility:

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

  • be over the age of 18 and 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.

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