We support small- to medium-sized Aboriginal and non-Aboriginal businesses in the NWT with funding, strategic advice and ongoing administrative and financial service support.
- Irrevocable Letters of Credit/Loan Guarantees – Guarantees made by the MDDF on a business’s behalf, often on larger projects for clients such as the Government of the Northwest Territories, in lieu of bonding.
- Term Loans – Money for a start-up or expansion, paid back over a specific length of time at a specific interest rate.
- Working Capital Loans/Lines of Credit – Money to cover daily operating costs until accounts receivable are paid.
- Entrepreneurship and Business Development Fund (EBD) – A CanNor contribution administered by MDDF, EBD funding can be paired with other financing to help Indigenous businesses with expansion, capital acquisition and marketing and planning.
Who’s Eligible for EBD?
- Majority-owned and controlled Indigenous businesses.
- Community-owned businesses (usually through the band’s development corporation).
- Privately owned Indigenous companies may qualify for up to $99,999, depending on overall project costs.
- Community owned businesses may qualify for up to $249,999, depending on overall project costs.
EBD can be used for:
- Purchasing equipment
- Starting a business
- Buying a business
- Business expansion
- Market development and promotion — including promotion, trade shows, trade missions forums, seminars and conferences.
Contributions Towards Business Planning/Feasibility Studies
MDDF will provide EBD for 75% of the costs with the client picking up the remaining 25% as their “equity” portion in the project.
Business Support Services
GL Services LTD. (a wholly owned subsidiary of MDDF), provides a comprehensive range of administrative support.
- Not-for-profit and Small Business Accounting
- Accounting System Installation and Set-up
- T1 Personal Tax Returns
- T2 Corporate Tax Returns
- Business Financial Consulting and Plans
- Year End Preparation
- Cost/Project/Fund Accounting
- Payroll and Payroll Remittance
- Notice to Reader Financial Statements