NADF Winter Road Financing

By mmuise
Description:

NADF provides financing to Aboriginal businesses that rely on the winter road network to transport supplies and inventory at the onset of the winter road season to remain competitive and reduce inventory and supply costs. Winter Road Financing provides financing to cash flow these purchases.


Comments on Funding:

Funding is up to $500,000, and in exceptional cases, up to $1,000,000. The applicant will pay interest and other fees, if applicable. Interest rates vary from 8.5% to 12%, but under certain conditions NADF may be able to offer competitive interest rates.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be individuals over the age of 18, who are of Aboriginal heritage (First Nations, Metis or Inuit),
  • be wholly-owned or majority-owned Aboriginal businesses and organizations (minimum 51%),
  • have businesses established and operating in Northern Ontario,
  • provide an equity contribution (minimum 10% the applicants aged 18 to 35 and minimum 15% the applicants over 35 years old).
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