BDIC — Standby Letters of Credit
NT, Canada
Contract security and security of payment for Northwest Territories companies
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
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
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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.
grant_single_labels|projects
This grant is available to companies located in the Northwest Territories, reflecting the regional focus of Prosper NWT. Businesses within this geographic area are encouraged to apply for support to enhance their digital capabilities.
- Businesses located in the Northwest Territories.
grant_single|admissibleProjectsExample
$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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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
grant_eligibility_criteria|who_cannot_apply
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.
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The grant covers expenses specifically for digital projects aimed at adopting new digital technologies, enhancing online presence, or digitalizing operations for businesses in the NWT.
- Costs for adopting new digital technologies.
- Expenses to enhance online presence.
- Costs related to digitalizing business operations.
grant_single_labels|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
grant_single_labels|register
- Step 1: 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.
- Step 2: 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.
- Step 3: 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.
- Step 4: Complete Application
- Fill out the online application form provided by Prosper NWT.
- Ensure that all sections are completed accurately and thoroughly.
- Step 5: 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.
- Step 6: 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.
grant_single_labels|otherInfo
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
Support Your Digital Transformation in the Northwest Territories
The Prosper NWT grant provides financial assistance to NWT businesses looking to embark on digital projects. With up to $15,100 available for eligible businesses, this initiative aims to foster digital innovation and transformation throughout the region.
Maximizing Digital Opportunities Through Prosper NWT
As part of a concerted effort to drive digital adoption and enhance business capabilities across the Northwest Territories, Prosper NWT offers a unique funding opportunity for businesses keen on digital transformation. Recognizing the pivotal role that technology plays in modern business success, Prosper NWT is committed to aiding companies in seizing these digital opportunities. Whether local businesses need to upgrade their current systems, improve their online footprint, or digitize their operations, the program ensures that they have the necessary financial backing.
Eligible businesses can receive up to $15,100 in grants specifically focused on digital initiatives—this funding is crafted to cover a wide array of digital projects, from implementing new software solutions to expanding e-commerce functionalities. More than just financial aid, the initiative also includes access to digital advisors who provide pivotal guidance and mentorship throughout the project lifecycle, ensuring that enterprises not only achieve a digital edge but do so with strategic foresight and efficiency.
The digital transformation support under Prosper NWT is rooted in the belief that robust digital capabilities can lead to business growth, improved competitiveness, and resilience. By targeting a region known for its remote settings and diverse business ecosystems, the grant aids enterprises in overcoming geographical and logistical challenges through technology. This approach not only plays a crucial role in leveling the playing field but also fosters a more interconnected and agile business community across the Northwest Territories.
Furthermore, by enabling digital projects, Prosper NWT encourages innovation, increased operational efficiency, and improved customer engagement strategies. Businesses stand to benefit from enhanced data analytics capabilities, better market reach, and sustained long-term strategic growth. As companies evolve with technology, they contribute significantly to the wider economy, potentially inspiring other organizations within the community to embark on similar journeys of innovation and digital sophistication.
This funding is part of a broader objective to stimulate business activity and economic growth in the North, aligning with Prosper NWT's strategic goals of fostering business success and community prosperity. By providing tailored digital support, Prosper NWT helps businesses fulfill their potential, contributing to a resilient and thriving economic landscape that benefits all residents of the Northwest Territories.
