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Kivalliq Business Development Centre
Loans and guidance in the Kivalliq region
Helps businesses and community projects in Kivalliq access loans and support to grow their activities. Provides funds for development and expansion.
Kivalliq Business Development Centre (KBDC) provides term loans, guarantees (including bid bonds), startup funds, inventory supply, capital funds, and lines of credit, up to $150,000 for new and existing businesses. They also offer business counseling, technical assistance, business planning, and monitoring. For COVID-19 relief, KBDC distributes two programs: the Indigenous Business Stabilization Program (IBSP) - Emergency Loan Program (ELP) offering interest-free loans and a non-repayable contribution (up to $40,000), and the Regional Relief and Recovery Fund (RRRF) providing loans up to $100,000 with potential for 25% forgiveness (up to $25,000) if 75% is repaid by December 31, 2022.
Business Size: small, medium
Region: Kivalliq Region, Nunavut
Demographics: indigenous
Revenue Range: Up to $20M
Other Criteria: businesses unable to secure traditional bank or credit union loans, Social Enterprises are eligible, for COVID-19 specific programs: negatively impacted by COVID-19, registered and operating in Nunavut on or prior to March 1, 2020, attempted to access other federal COVID-19 relief measures and found ineligible, willing to demonstrate need related to COVID-19, must not receive other equivalent Government of Canada support for the same costs (excluding wage subsidies)
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This program is available to small, medium businesses located in Kivalliq Region, Nunavut.
This program offers funding up to $150,000.
The application deadline is December 31, 2022.
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