This program is designed specifically for businesses like yours in Nunavut. It offers financial contributions to help with expansion or start-up costs. This can be a game-changer for your business, providing the necessary funds to grow and thrive in your community.

Key Benefits:

• Financial Support: Contributions to complete a financing package for major expansions or start-ups.
• Community Development: Funding for training, marketing, and community development projects.
• Economic Growth: Support for projects that create jobs, training opportunities, and other tangible economic benefits.

Why Apply?

• Flexible Financing: Contributions are structured to complement and attract debt financing or equity investment.
• Strategic Sectors: Focus on key sectors of Nunavut’s economy, ensuring your business aligns with regional economic goals.
• Ease of Qualification: The program is designed to be accessible, making it easier for your business to qualify and benefit.

Applying for this program can provide the financial boost your business needs to succeed and contribute to the economic development of your community.

Type of Financing: Contribution

Repayment Terms and Interest Rates:

• This is a non-repayable contribution, meaning you do not have to pay it back.

Eligible Expenses:

• Expansion or start-up costs for businesses.
• Training, marketing, and community development for municipalities, not-for-profit corporations, and societies.
• Strategic sectors of Nunavut’s economy.
• Events, professional development, education and training, and physical community assets.

Ineligible Expenses:

• The funds cannot be used for personal expenses or any non-business-related activities.

Fees:

• There are no fees associated with this program.

This program offers financial support to businesses in Nunavut. You can get funding to help with starting up or expanding your business. The money can be used for various purposes like buying equipment, marketing, or training.

You can receive contributions to cover major expenses. This can help you complete a financing package for significant projects. The program focuses on strategic sectors of Nunavut’s economy, ensuring your business contributes to local development.

There are two main funds:

1. Nunavut Business Investment Fund: This fund helps businesses with anticipated economic outcomes. It complements debt financing or equity investment, making it easier for you to secure additional funding.

2. Nunavut Economic Foundations: This fund supports community economies and regional development. It provides contributions for events, professional development, education, and physical community assets.

By participating in this program, your business can gain the financial support needed to grow and succeed, while also contributing to the economic development of Nunavut.