Maurice
Posted: January 20, 2022

Amount:

$7,500

Type of Program:

Loan


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.


When It Ends:

Ongoing

Deadline:

Rolling deadline

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.

Applications Steps:

Applicants must:

1

contact a NADF Business Support Officer to discuss application details,

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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