NADF Loans

By mmuise
Description:

Nishnawbe Aski Development Fund provides financing to Aboriginal entrepreneurs and majority-owned Aboriginal businesses operating in Northern Ontario for starting up, establishing, expanding or acquiring a business.


Comments on Funding:

1. Funding is up to $500,000, and in exceptional cases, up to $1,000,000.
2. The applicant will pay interest and other fees, if applicable. Interest rates vary from 8.5% to 12%.

Deadline: Continuous Intake
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.
    Applicants must provide a cash equity contribution (minimum 10% the applicants aged 18 to 35 and minimum 15% the applicants over 35 years old).
Application Steps:

The applicant must:

1. contact NADF to determine eligibility,

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.

Other Things to Note:

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Program Contact: http://www.nadf.org/loans
About the author
mmuise