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.
- 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.
- Indigenous Women’s Entrepreneur Program (IWE) – Launched in 2022, the IWE Program, in partnership with Indigenous Services Canada (ISC), seeks to reduce barriers that Indigenous women face when starting or growing their business, and ensure that they have access to training, resources and capital they need to prosper.
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.
Indigenous Women’s Entrepreneur Program
NACCA and MDDF are delivering the Women Entrepreneurship Loan Fund (WELF) on behalf of Innovation, Science and Economic Development Canada (ISED). Indigenous women entrepreneurs who meet eligibility requirements will be able to apply for loans up to $50,000.
Who can qualify?
- Indigenous female applicants who have majority (51%) equity share in the ownership of the business;
- Female applicants who are actively involved in the business and are integral to its ongoing operations;
- Applicant must be eighteen (18) years or over.
Loan applicants will need:
- A business plan
- A minimum of 5% cash equity or in-kind contribution
- Cash flow forecasts for a minimum of two years