NADF Microloans (2022)

ByMaurice

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.

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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