Wakenagun Community Futures Development Corporation (Wakenagun CFDC) -Wakenagun CFDC’s Investment Fund – “A Helping Hand” Loan


Wakenagun CFDC’s Investment Fund – “A Helping Hand” Loan provides funding for business start up. Funding may be used for seasonal businesses, craft material purchases, minor capital items.

Comments on Funding:

The maximum loan amount is $10,000.
A 10% cash equity is required.
Interest rate is equal to the prime rate published by the Bank of Canada at the time of application, plus an increase between 2-7% depending on the amount of risk determined.
The applicant will pay interest and other fees, if applicable. No repayment penalty is applicable.
Repayment terms are based on amount borrowed and available cash flow with maximum term of three years.


Applicants must:

  • Be sole proprietors
  • Be partnerships
  • Be corporations
  • Be not-for profit corporations
  • Have their business located within the boundaries of the Wakenagun catchment area.
  • be a small business venture or idea that only require a micro loan.(Wakenagun serves the “Mushkegowuk” Region. These communities include Attawapiskat, Fort Albany, Kashechewan, Peawanuck, Moose Factory, Moosonee, Taykwa Tagamou, Missanabie, and Fort Severn.),
  • be a small business venture or idea that only require a micro loan.

Documentation Needed:

Applicants must submit:

  • A Statement of Intent form
  • a project description including estimated costs (must provide quotations),
  • A general business proposal of the idea
  • A Statement of Personal Assets and Liabilities.

Other Things to Note:

Wakenagun can provide financing up to a maximum of $150,000 from its Investment Fund in the form of a loan to start or expand a business with a well-documented business plan. These loans are non-forgivable. The program guidelines are from 2016.

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