NADF Microloans

By mmuise
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 $2,500 to $7,500.
The applicant will pay a flat interest rate of 8.5%. The application fee is waived.

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.
Application 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.

Other Things to Note:

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About the author
mmuise