Contract Event Opportunities — Government of the Northwest Territories
Highlights
This program is a fantastic opportunity for your business. It offers up to $1,000,000 in financing, with an additional $150,000 available for software or daily operating costs. These funds can be used for a variety of needs, including operating expenses, restorations, new equipment, and software. This flexibility allows you to address the specific needs of your business.
The key advantage of this program is that it is backed by the government, providing you with more favorable terms than typical loans. You have the freedom to choose how you repay the loan, with up to 15 years to do so. This makes it easier to manage your cash flow and plan for the future. Qualifying for this program is straightforward, ensuring you can quickly access the funds you need to grow and sustain your business.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Research and development costs
- Marketing and promotional activities
- Employee training and development
- Operational costs directly related to the project
Use of Funds:
- Funds cannot be used for:
- Debt repayment
- Real estate purchases
- Personal expenses
- Any expenses not directly related to the approved project
Fees:
- No application fees
- No administration fees
Qualifications
Must have cookies enabled in order to sign in to your PeopleSoft application.
Disqualifications:
- None mentioned.
Description
This program offers your business a chance to receive up to $1,000,000. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible purchases include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or working capital, you can get up to $150,000.
The federal government guarantees 85% of the loan, providing a strong safety net for you.
Flexible repayment options are available. You can choose a variable interest rate, a fixed one, or a combination of both.
You have up to 15 years to repay the loan, regardless of how you use the funds.
Program Steps
Sign In to PeopleSoft: Ensure cookies are enabled in your browser. Sign in to your PeopleSoft account. If you encounter issues, contact your System Administrator.
Access the Application Form: Once signed in, navigate to the section where you can find the application form for the program.
Prepare Required Documentation: Gather the necessary documents to complete your application. These typically include:
- Business financial statements
- Business plan
- Tax returns
- Proof of business registration
- Identification documents for business owners
- Any other specific documents requested by the program
Complete the Application Form: Fill out the application form with accurate and detailed information about your business and the purpose of the program.
Review and Verify Information: Double-check all the information and documents to ensure they are correct and complete. This step helps avoid delays in the application process.
Submit the Application: Submit the completed application form along with the required documentation through the PeopleSoft platform.
Follow Up: After submission, monitor your PeopleSoft account for any updates or requests for additional information. Respond promptly to any such requests to keep the application process moving smoothly.
Await Approval: Once all information is submitted and verified, await the approval decision. You may be contacted for further details or clarifications during this period.
Receive Confirmation: Upon approval, you will receive a confirmation notice through your PeopleSoft account. Follow any additional instructions provided to finalize your participation in the program.