NADF — Client Support & Advisory Services
Highlights
This program is designed specifically for businesses like yours. It offers up to $1,000,000 in financing to help you make essential purchases and grow your business. Additionally, you can receive an extra $150,000 for software or day-to-day operating costs. This funding can be used for a variety of needs, including operating expenses, restorations, new equipment, and software.
What sets this program apart is that it is backed by the government, providing you with more flexible repayment options. You can choose how to pay it back, with terms extending up to 15 years. This makes it a more attractive option compared to traditional loans. Approval for this program can significantly boost your business, providing the financial support you need to thrive. Plus, qualifying is straightforward, making it easier for you to access these benefits.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Intangible assets
- Working capital
Use of Funds:
- Funds can be used for business expansion, purchasing new equipment, or improving existing facilities.
- Funds can also be used for operational costs, such as salaries and utilities.
Restrictions:
- Funds cannot be used for personal expenses.
- Funds cannot be used to repay existing debts.
Fees:
- No application fees.
- No processing fees.
Qualifications
- Must be an Indigenous-owned business.
- Must be operating in Ontario.
- Must have a minimum of 51% Indigenous ownership.
- Must have fewer than 100 employees.
- Must have been in operation for at least one year.
Must demonstrate a need for financial support.
Disqualifications:
- Businesses not owned by Indigenous individuals.
- Businesses operating outside of Ontario.
- Businesses with more than 100 employees.
- Start-up businesses less than one year old.
Description
This program offers your business up to $1,000,000 in funding. You can use this money to buy equipment or improve your workspace.
Eligible uses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other expenses like software or operational costs, you can receive up to $150,000.
Key benefits:
- 85% of the loan is guaranteed by the federal government, providing a safety net.
- Flexible repayment options: Choose between variable or fixed interest rates, or a combination of both.
- Up to 15 years to repay the loan, regardless of how you use the funds.
This program is designed to help your business grow and succeed with financial support and flexibility.
Program Steps
Gather Necessary Documentation: Prepare the following documents to complete your application:
- Business Plan
- Financial Statements (last 2 years)
- Proof of Business Registration
- Identification Documents for Owners
- Detailed Budget for Fund Usage
Complete the Application Form: Fill out the application form provided on the program's website. Ensure all sections are completed accurately.
Submit Supporting Documents: Attach the prepared documentation to your application. Double-check that all required documents are included.
Review Loan Terms and Conditions: Carefully read through the terms and conditions of the loan. Make sure you understand the repayment schedule, interest rates, and any associated fees.
Contact Program Support: If you have any questions or need assistance, reach out to the program's support team. They can provide guidance on the application process and clarify any doubts.
Submit the Application: Once everything is in order, submit your completed application and supporting documents through the designated submission portal or via mail, as instructed.
Await Application Review: The program administrators will review your application. They may contact you for additional information or clarification.
Receive Approval and Funds: Upon approval, you will be notified of the loan terms. Once you agree to the terms, the funds will be disbursed to your business account, allowing you to proceed with your planned investments.