How much funding can be received?

Funds up to 3000000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Atuqtuarvik Corporation Financing?

Atuqtuarvik Corporation Financing is funded by Atuqtuarvik Corporation

What are Atuqtuarvik Corporation Financing's eligibility criterias?

The applicant must be an Inuit-owned business. The project must be commercially viable and Nunavut-based. Applicants must provide their own equity and investment is based on the percentage of Inuit ownership.

Atuqtuarvik Corporation Financing

Last Update: July 22, 2025

NU, Canada

Financing for Nunavut start-ups and expansion

Atuqtuarvik Corporation Financing at a glance

Eligible Funding

From $150,000 to $3,000,000

Timeline

Continuous Intakes

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Atuqtuarvik Corporation

Program status

Open

Overview of the Atuqtuarvik Corporation Financing program

Access loans and equity investments ranging between $150,000 and $3,000,000 for your Inuit-owned business.

Financing 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.

Eligible projects & activities

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.

Examples of admissible projects:

$ 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

$ 800,000

Acquisition of a local Inuit-owned bakery to preserve traditional recipes

$ 1,000,000

Expansion of an Inuit-owned wholesale distribution business

$ 1,000,000

Expanding an Inuit-owned organic farm with new greenhouse facilities

Eligibility criteria of the Atuqtuarvik Corporation Financing program

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.

Who is eligible?

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.

Who is not eligible

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.

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.

Eligible geographic areas

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

Eligibility criteria of the Atuqtuarvik Corporation Financing program

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.

How to apply to the Atuqtuarvik Corporation Financing program

Initial Preparation

Determine if your business qualifies as an Inuit-owned business and meets the project eligibility criteria of being Nunavut-based and beneficial to Inuit.
Review the financial range and terms available for financing from Atuqtuarvik Corporation.

Compile Documentation

Gather verification of Inuit Firm status.
Prepare resumes for key individuals within your business.
Organize information about the ownership and management structure of your business.
If applicable, prepare valuations and/or appraisals for shares or assets to be purchased.
Collect administrative documents such as business licenses, proof of insurance, and WSCC coverage, as well as proof of enrollment under the Nunavut Agreement.
Write a description of the proposed business activity and articulate the investment requested from Atuqtuarvik Corporation.
Conduct and document an analysis of the market and clientele your business serves or intends to serve.
Develop financial projections and compile financial history.
Detail proposed financing from all sources available to your business.
Draft a strategic plan and project implementation plan for your initiative.
Secure letters of intent or documents indicating required regulatory approvals.
Identify the anticipated benefits of the project to the Inuit of Nunavut.
Prepare any applicable environmental assessments.
Complete a Personal Net Worth Statement.

Authorization and Fees

Provide written authorization to Atuqtuarvik Corporation to verify the information through contact with bankers, accountants, creditors, etc.
Ensure authorization is provided on your CRA account as per the CRA guidelines.
Pay the required administrative fee needed to process your application.

Submit Application

Complete and sign the application form.
Submit the application with all required documents to Atuqtuarvik Corporation.
Ensure submissions are sent either via mail, email, or any specified delivery method to the contact information provided on Atuqtuarvik Corporation's website.

Confirmation and Communication

Await communication from Atuqtuarvik Corporation confirming receipt of your application.
Retain any confirmation or reference numbers provided.

Additional information

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.