Atuqtuarvik Corporation Financing
NU, Canada
Financing for Nunavut start-ups and expansion
grant_single|update January 24, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Atuqtuarvik Corporation
grant_single|status
grant_card_status|open
grant_single_labels|preview
Access loans and equity investments ranging between $150,000 and $3,000,000 for your Inuit-owned business.
grant_single_labels|terms_and_conditions
This financing program by Atuqtuarvik Corporation offers structured financial support to Inuit-owned businesses, focusing on loans and equity investments tailored to enhance economic participation and social benefits in Nunavut.
- Loans and equity investments range from $150,000 to $3,000,000.
- Interest rates are determined by bank prime and the specific risks associated with the project.
- Loan terms range from 1 to 5 years, with amortization options extending up to 25 years.
- Investments and loan amounts are influenced by the percentage of Inuit ownership.
- All applications come with an administrative fee payable before commencing the due diligence process.
grant_single_labels|projects
This grant offers support for Inuit-owned businesses focused on economic growth and development within Nunavut. Eligible projects include initiating new businesses, expanding existing operations, or acquiring businesses that are commercially viable and beneficial to Inuit communities.
- Business start-up initiatives within Nunavut.
- Expansion of existing Inuit-owned businesses.
- Acquisition of businesses that aid in enhancing Inuit economic participation.
grant_single|admissibleProjectsExample
$ 800,000
Acquisition of a local Inuit-owned bakery to preserve traditional recipes
$ 1,500,000
Acquisition of a competitor Inuit-owned technology consultancy
$ 800,000
Launching a new Inuit-owned dental clinic with comprehensive services
$ 400,000
Setting up an Inuit-owned e-commerce platform for handmade crafts
$ 1,000,000
Expansion of an Inuit-owned wholesale distribution business
$ 1,000,000
Expanding an Inuit-owned organic farm with new greenhouse facilities
grant_single_labels|admissibility
Eligibility for financing from Atuqtuarvik Corporation requires businesses to meet certain criteria regarding their ownership and projected impact.
- The applicant must be an Inuit-owned business.
- The project must be located in Nunavut.
- The proposed project should be commercially viable.
- The project must create benefits for Inuit, such as jobs, training, and social improvements.
- Applicants must demonstrate the ability to provide their own equity.
grant_eligibility_criteria|who_can_apply
Atuqtuarvik Corporation targets Inuit-owned businesses looking to start, expand, or acquire operations based in Nunavut, with the aim of benefiting Inuit communities through job creation, training, and social improvements.
grant_eligibility_criteria|who_cannot_apply
In the context provided, there are no explicit details about specific companies or industries that are not eligible for this grant. The focus is primarily on eligibility criteria rather than exclusions.
grant_eligibility_criteria|eligible_expenses
The Atuqtuarvik Corporation grant program focuses on enhancing economic opportunities for Inuit in Nunavut by supporting business initiatives that are both viable and beneficial to the community. The eligible projects contribute to business start-up, expansion, and acquisition, thereby fostering Inuit job creation and social improvements.
- Initiatives aimed at starting new businesses in Nunavut.
- Projects focused on expanding existing Inuit-owned businesses.
- Acquisition projects that enhance Inuit business ownership and participation in economic activities.
grant_eligibility_criteria|zone
This grant is specifically targeted at Inuit-owned businesses located within the Nunavut region. It aims to enhance economic opportunities and benefits for the Inuit community in this geographical area.
- Nunavut, Canada
grant_single_labels|criteria
The evaluation and selection of projects for financing by Atuqtuarvik Corporation are based on specific criteria to ensure projects are aligned with their objectives of economic participation for Inuit in Nunavut.
- The financial viability of the project.
- The percentage of Inuit ownership and participation in management.
- The benefits of the project to the Inuit of Nunavut, such as jobs, ownership, housing, language, and cultural preservation.
- Financial resources from other sources, including banks and government programs.
grant_single_labels|apply
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grant_single_labels|otherInfo
Here are additional relevant details for the Atuqtuarvik Corporation grant application process:
- Applicants must provide written authorization for Atuqtuarvik Corporation to verify the information provided through contact with bankers, accountants, and other third parties.
- The application process requires the payment of an administrative fee before the due diligence can be completed.
- Authorization may also be required for Atuqtuarvik Corporation to access the applicant's CRA account for verification purposes.
- Applications are processed by the Credit Department before a recommendation is made to the Board of Directors.
- Application evaluations consider both minority and majority Inuit ownership stake when assessing loan and equity investment amounts.
grant_single_labels|contact
contact@atuqtuarvik.com
867-645-5900
Apply to this program
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