BDIC-NWT — Working Capital Guarantee
NT, Canada
Loan guarantee for Northwest Territories businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Expert Advice
Other Support
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Business Development and Investment Corporation
- Government of the Northwest Territories
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get an irrevocable standby letter of credit to help you secure working capital financing from your bank.
grant_single_labels|projects
This grant is available to businesses within the Northwest Territories (NWT). Eligibility is determined by the location within this northern Canadian region.
- Businesses registered and operating in the Northwest Territories.
grant_single|admissibleProjectsExample
$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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The grant covers specific expenses directly related to digital projects for eligible NWT businesses.
- Adoption of new digital technologies.
- Enhancement of the business's online presence.
- Digitalization of business operations.
grant_single_labels|criteria
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.
grant_single_labels|register
- Step 1: 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.
- Step 2: 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.
- Step 3: 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.
- Step 4: 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.
- Step 5: 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.
- Step 6: Receive Confirmation
- Await confirmation from Prosper NWT that your application has been received.
- Retain any confirmation numbers or correspondence for your records.
grant_single_labels|otherInfo
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.
Apply to this program
Unlock Digital Growth Potential in the NWT
The Prosper NWT initiative offers grants up to $15,100 to support businesses in the Northwest Territories in adopting cutting-edge digital technologies. Aimed at enhancing digital presence and operations, these grants empower businesses to innovate and thrive in today's competitive landscape.
Dive Deeper into Prosper NWT's Digital Support Scheme
Prosper NWT’s new digital grant initiative is a significant leap towards bolstering the digital capabilities of businesses in the Northwest Territories. By offering up to $15,100 in financial support, this program is specifically designed to help local enterprises embrace digital transformation, which is increasingly vital in today's digitally-driven economy. As businesses strive to stay competitive and relevant, the adoption of modern digital technologies can be a game-changer, impacting everything from efficiency to market reach.
In addition to financial aid, Prosper NWT connects businesses with knowledgeable digital advisors who provide invaluable guidance. These experts help tailor digital strategies to align with each business's unique needs and goals. This comprehensive support framework ensures that businesses are not only able to fund their digital projects but also implement them effectively.
Eligible projects under this program include adopting new digital tools that automate and streamline operations, thereby improving productivity and cost efficiency. Moreover, businesses can enhance their online presence with advanced e-commerce solutions, digital marketing enhancements, and robust cybersecurity systems to safeguard online platforms. This holistic approach allows businesses to build resilient, agile operations that can respond rapidly to the ever-evolving market demands.
Moreover, the initiative supports the integration of emerging technologies such as artificial intelligence, IoT (Internet of Things), and data analytics. These technologies provide deeper insights into consumer behavior, refine business processes, and drive innovative product or service development. Such advancements are essential for businesses aiming to lead in niche markets and create a substantial impact both locally and beyond.
Importantly, Prosper NWT’s grant program is particularly focused on small to medium-sized enterprises (SMEs), the backbone of the NWT's economy. By fortifying these enterprises with digital enhancements, the program not only aids individual business growth but also contributes to the broader economic development of the region. The ripple effect of enhanced digital skills within a community can spur job creation, increase competitiveness, and foster a thriving entrepreneurial ecosystem.
This initiative reinforces the commitment of Prosper NWT to drive economic prosperity through innovation and strategic support. By addressing potential barriers to digital adoption, such as the cost of technology and the expertise required to implement it, the program ensures that even smaller communities or businesses with limited resources can participate in the digital economy.
Overall, the digital support scheme under Prosper NWT is more than just a financial grant; it is an empowerment tool designed to future-proof businesses and set them on a path toward sustainable growth. By integrating digital capabilities, businesses can achieve greater efficiency, enhance customer experiences, and unlock new opportunities for expansion and success.
This initiative is part of Prosper NWT’s broader strategy to nurture a vibrant, forward-thinking business community across the Northwest Territories, encouraging enterprises to reach new heights in innovation and market leadership.
