BDIC — Standby Letters of Credit

Q: How much funding can be received?

BDIC — Standby Letters of Credit Funds up to 15100% of admissible expenses.

Q: What is the deadline to apply?

The program is accepting continuous intake

Q: Is the BDIC — Standby Letters of Credit a grant, loan, or tax credit?

BDIC — Standby Letters of Credit is a Grant and Funding

Q: Who are the financial supporters of the BDIC — Standby Letters of Credit?

BDIC — Standby Letters of Credit is funded by Government of the Northwest Territories, Business Development and Investment Corporation

Q: Who is eligible for the BDIC — Standby Letters of Credit program?

To be eligible for the BDIC — Standby Letters of Credit program, you must: • The business must be located in the Northwest Territories. • The business must aim to adopt new digital technologies, enhance their online presence, or digitalize operations.

Q: Who can I contact for more information about the BDIC — Standby Letters of Credit?

You can contact Government of the Northwest Territories.

Q: Where is the BDIC — Standby Letters of Credit available?

The BDIC — Standby Letters of Credit program is available the province of Northwest Territories.

Q: Are startups eligible for the BDIC — Standby Letters of Credit program?

Yes, startups are eligible to apply for the BDIC — Standby Letters of Credit program.

Last Update: July 22, 2025

NT, Canada

Contract security and security of payment for Northwest Territories companies

At a glance

Eligible Funding

Max. $15,100

Timeline

Unspecified

Financing Type

Grant and Funding

Eligible Industries

All industries

Funds Providers

Business Development and Investment Corporation

Government of the Northwest Territories

Program status

Open

Overview

If your business bids on contracts that require contract security or if your suppliers require security of payment, these standby letters of credit can provide the necessary assurance to third parties.

Activities funded

Adoption of new digital technologies to improve business operations.
Enhancement of online presence for improved market reach and engagement.
Digitalization of operational processes to increase efficiency.
Access to digital advisors for guidance on digital projects.

Examples of admissible projects:

$ 36,000

Introduce new digital billing system in a dental clinic

$ 54,000

Develop a mobile app for a food delivery service

$ 30,000

Implement a digital customer management system at a local bakery

$ 45,000

Upgrade e-commerce platform of an independent bookstore

$ 24,000

Enhance online presence for a non-profit theatre group

$ 56,000

Digitalize operations of a community cooperative farm

Eligibility

Eligibility for Prosper NWT's digital support grants requires meeting distinct criteria based on business location and project focus.

The business must be located in the Northwest Territories (NWT).
The grant is available for projects aimed at adopting new digital technologies, enhancing the online presence, or digitalizing operations.

Who is eligible?

Prosper NWT offers digital support grants to businesses located in the Northwest Territories, but specific eligibility criteria for types of companies or industries are not provided. Therefore, the detailed eligibility requirements are not explicitly stated.

Nothing

Who is not eligible

This grant does not specify any exclusions based on company type, industry, status, or main activity within the provided context. Eligibility criteria should be reviewed to ensure alignment with the program's objectives.

Eligible expenses

This grant aims to support digital transformation efforts for businesses in the Northwest Territories. Eligible projects include adopting new digital technologies, enhancing online presence, and digitalizing business operations.

Adoption of new digital technologies.
Enhancement of online presence.
Digitalization of business operations.

Eligible geographic areas

This grant is specifically available for businesses located in the Northwest Territories. The eligible geographical area ensures that the funding supports local economic development.

Businesses operating within the Northwest Territories of Canada.

Selection criteria

Prosper NWT uses specific evaluation and selection criteria to assess grant applications:

Alignment with program objectives
Demonstrated need for digital support
Feasibility and potential impact of the digital project
Evidence of capacity to implement the project successfully
Potential for growth and innovation through digitalization

How to apply

Obtain Information about Grant Programs

Visit the Prosper NWT website to review available grant programs focused on digital projects.
Identify which grant(s) your business qualifies for.

Register

Create an account on the Prosper NWT online portal if required.
Ensure you are eligible for the digital grant program before commencing your application.

Gather Necessary Documentation

Prepare a project proposal detailing how your business will use digital technologies to improve operations.
Compile financial statements and any supporting documents required by the application guidelines.

Complete Application

Fill out the online application form provided by Prosper NWT.
Ensure that all sections are completed accurately and thoroughly.

Submit Application

Upload all necessary documents to the Prosper NWT portal.
Review your application one last time to ensure completeness.
Submit the application before the specified deadline.

Confirmation and Follow-up

Receive a confirmation email from Prosper NWT acknowledging receipt of your application.
Follow up with Prosper NWT if you haven’t received a confirmation within a few days.

Additional information

Here are additional relevant details for this grant:

The maximum grant contribution available for digital projects is $15,100.
Digital advisors are available to assist businesses in advancing their digital projects.

Apply to this program

Frequently Asked Questions about the BDIC — Standby Letters of Credit Program

Here are answers to the most common questions about the BDIC — Standby Letters of Credit. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the BDIC — Standby Letters of Credit?

How much funding can be received?

What expenses are eligible under BDIC — Standby Letters of Credit?

This grant facilitates the growth and digital advancement of businesses in the Northwest Territories through the adoption of new technologies. It includes funding and advisory support focused on enhancing digital capabilities. Adoption of new digital technologies to improve business operations. Enhancement of online presence for improved market reach and engagement. Digitalization of operational processes to increase efficiency. Access to digital advisors for guidance on digital projects.