This program is a great opportunity for your business. It offers financial support to help you with expansion or start-up costs. The program provides contributions through two funds: the Nunavut Business Investment Fund and the Nunavut Economic Foundations. These funds are designed to complement and attract debt financing or equity investment, making it easier for you to secure the capital you need.

What You Get

• Contributions for major expansions or start-ups
• Support for strategic sectors of Nunavut’s economy
• Funding for training, marketing, and community development

Benefits

• Build community economies and support regional economic development
• Access to professional development, education, and training
• Funding for physical community assets

This program is easier to qualify for than many other financing options, and being approved can significantly boost your business’s growth and sustainability.

Type of Financing: Contribution

Eligible Expenses:

• Expansion costs
• Start-up costs
• Training
• Marketing
• Community development

Use of Funds:

• Funds can be used for business expansion or start-up activities.
• Municipalities, not-for-profit corporations, and societies can use funds for training, marketing, and community development.

Ineligible Expenses:

• Funds cannot be used for personal expenses.
• Funds cannot be used for activities not related to business or community development.

Fees:

• There are no fees associated with this program.

This program offers your business a chance to receive financial support for expansion or start-up costs. You can get a contribution to help cover these expenses, making it easier for you to grow or establish your business.

There are two main funds within this program:

1. Nunavut Business Investment Fund: This fund helps you complete a financing package for major expansions or start-ups. It provides contributions to business ventures in key sectors of Nunavut’s economy. This can attract additional debt financing or equity investment, giving your business a solid financial foundation.

2. Nunavut Economic Foundations: This fund supports community and regional economic development. It provides contributions for projects that offer measurable economic benefits, such as job creation, training opportunities, and community development. You can use this funding for events, professional development, education, training, and building community assets.

By participating in this program, you can access the financial resources needed to grow your business and contribute to the economic development of your community.