How much funding can be received?

Funds up to 15100% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the BDIC-NWT — Working Capital Guarantee?

BDIC-NWT — Working Capital Guarantee is funded by Business Development and Investment Corporation, Government of the Northwest Territories

What are BDIC-NWT — Working Capital Guarantee's eligibility criterias?

The business must be located in the Northwest Territories (NWT). The applicant must be seeking support for digital technology adoption or enhancement of their online presence.

BDIC-NWT — Working Capital Guarantee

Last Update: January 24, 2025

NT, Canada

Loan guarantee for Northwest Territories businesses

BDIC-NWT — Working Capital Guarantee at a glance

Eligible Funding

Max. $15,100

Timeline

Continuous Intakes

Financing Type

Other Support

Expert Advice

Eligible Industries

All industries

Grant Providers

Business Development and Investment Corporation
Government of the Northwest Territories

Status

Open

Overview of the BDIC-NWT — Working Capital Guarantee program

Get an irrevocable standby letter of credit to help you secure working capital financing from your bank.

Financing terms and conditions

The BDIC-NWT — Working Capital Guarantee, now under the banner of Prosper NWT, aims to provide essential financial support to businesses in the Northwest Territories. However, specific financing modalities for this grant are not detailed in the provided information.

Eligible projects & activities

This grant offers funding to Northwestern Territories businesses for enhancing their digital capabilities. Eligible projects include initiatives aimed at integrating new digital technologies and improving online presence.

Adoption of new digital technologies for business operations.
Enhancement of business online presence through digital tools.
Digitalization of business operations for increased efficiency.

Examples of admissible projects:

$ 14,000

Digital transformation of a local bookstore to include online sales and inventory management

$ 15,000

Upgrade an environmental organization's data management system for better research and tracking

$ 14,000

Digitize physical records for a non-profit organization's historical archives

$ 14,000

Implement CRM software to improve customer relationship management at an accounting firm

$ 14,000

Automate production scheduling for a local artisanal coffee roaster

$ 12,000

Develop e-commerce website for a local cooperative selling indigenous crafts

Eligibility criteria of the BDIC-NWT — Working Capital Guarantee program

Eligibility for the digital projects grant provided by Prosper NWT requires meeting certain business criteria.

The business must be located in the Northwest Territories (NWT).
The business must be seeking to adopt new digital technologies, enhance its online presence, or digitalize operations.
The business should demonstrate how the proposed digital project will benefit its operations and contribute to its growth.

Who is eligible?

Businesses located in the Northwest Territories (NWT) that are seeking support for digital projects can apply for these grants. This includes businesses of varying sizes aiming to adopt new digital technologies, improve their online presence, or digitalize their operations.

Who is not eligible

Some types of companies may not be eligible for this grant. For example, companies engaged in illegal activities or those outside the Northwest Territories may not qualify for funding.

Companies engaged in illegal activities
Companies located outside the Northwest Territories

Eligible expenses

This grant supports NWT businesses in enhancing their digital capabilities. It includes activities focused on adopting new digital technologies, improving online presence, and digitalizing operations.

Adoption of new digital technologies by businesses.
Enhancement of a business's online presence.
Digitalization of business operations.

Eligible geographic areas

This grant is available to companies within the geographical area specified by the funding organization, Prosper NWT. Businesses located in the Northwest Territories of Canada are eligible to apply.

Companies operating within the Northwest Territories (NWT), Canada.

Eligibility criteria of the BDIC-NWT — Working Capital Guarantee program

There are evaluation and selection criteria for the Prosper NWT grants. Applicants will be evaluated based on the following criteria:

Relevance of the project to advancing digital technologies or enhancing online presence.
Demonstrated need for digital support and potential impact on the business.
Feasibility and sustainability of the digital project.
Potential for innovation and growth through digitalization.

How to apply to the BDIC-NWT — Working Capital Guarantee program

Review Eligibility Criteria

Confirm your business is located in the Northwest Territories and meets eligibility for digital support programs.
Identify digital projects that align with the program objectives, such as adopting new digital technologies or digitalizing operations.

Gather Required Information

Prepare a detailed description of your digital project, including objectives, project activities, and expected outcomes.
Collect financial information and any other documentation that supports your application.

Contact a Digital Advisor

Get in touch with a digital advisor through Prosper NWT for guidance on your project proposal.
Discuss your business needs and receive advice on maximizing the benefits of the digital grant.

Complete the Application Form

Fill out the official application form provided by Prosper NWT, ensuring all sections are completed accurately.
Attach all necessary documentation and verify the information provided.

Submit the Application

Submit the completed application form along with all supporting documents to Prosper NWT.
Choose the submission method recommended by Prosper NWT, whether online or via mail.

Receive Confirmation

Await confirmation from Prosper NWT that your application has been received.
Retain any confirmation numbers or correspondence for your records.

Additional information

Here are additional relevant details for this grant:

Potential applicants should consider the availability of digital advisors to assist with their digital projects, which can provide valuable guidance and support.
The support for digital projects includes grants and contributions, indicating a possible requirement for matched funding or cost-sharing from the business.