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BDIC — Term Loans
NT, Canada
Term loans for Northwest Territories businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|closingDateMay 17, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
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|closed
grant_single_labels|preview
Variety of fixed and variable interest rate term loans available to businesses that are unable to secure financing elsewhere.
grant_single_labels|terms_and_conditions
This grant provides flexible debt financing solutions designed to support businesses in the Northwest Territories. The financing modalities emphasize adaptability and responsiveness to the specific needs of business ventures.
- Flexible debt financing tailored to business needs for starting, growing, and thriving.
grant_single_labels|projects
This term loan program helps businesses in the Northwest Territories access flexible debt financing to start, grow, and thrive in various economic conditions. Eligible activities focus on offering comprehensive support and guidance to entrepreneurs while providing emergency relief and fostering digital advancement.
- Starting new business ventures and expanding existing ones with flexible debt financing.
- Receiving guidance and support from experts to address business challenges.
- Accessing temporary relief and support during emergencies to maintain business operations.
- Adopting new digital technologies and enhancing online presence for business growth.
- Digitalizing business operations with support from digital advisors to improve efficiency.
grant_single|admissibleProjectsExample
$ 25,000
Install a new customer relationship management (CRM) system to improve client interactions
$ 13,000
Digitalize inventory management system to increase efficiency and accuracy in stock control
$ 15,000
Upgrade digital payment systems to enhance transaction security and user experience
$ 18,000
Implement a new e-commerce platform to improve customer interaction and online sales
$ 16,000
Develop a mobile application to enhance customer service and engagement
$ 14,000
Enhance online presence through a comprehensive digital marketing campaign targeting new demographics
grant_single_labels|admissibility
Eligibility for this grant is not specifically detailed in the provided information.
grant_eligibility_criteria|who_can_apply
NWT businesses looking to adopt new digital technologies, enhance their online presence, or digitalize operations are eligible for up to $15,100 in grants/contributions. The program is designed to support the digital transformation of businesses located in the Northwest Territories, Canada.
grant_eligibility_criteria|who_cannot_apply
There are certain types of companies that may not be eligible for the Prosper NWT grant:
- Non-profit organizations
- Government entities
- Individuals (sole proprietors without a registered business)
grant_eligibility_criteria|eligible_expenses
Eligible projects for this grant are those that aim to enhance digital capabilities in businesses within the NWT. This includes adopting digital technologies and improving online operations.
- Adopting new digital technologies to improve business operations.
- Enhancing online presence to reach broader audiences.
- Digitalizing operations for increased efficiency and productivity.
- Access to digital advisors to advance specific digital projects.
grant_eligibility_criteria|zone
This grant is available to businesses located in the Northwest Territories region as specified by the funding body. It aims to support local economic development and business prosperity.
- Businesses operating in the Northwest Territories (NWT).
grant_single_labels|criteria
Prosper NWT has evaluation and selection criteria for their grants. The criteria focus on factors such as the feasibility of the project, potential economic impact, and alignment with the organization's goals.
- Feasibility of the project
- Potential economic impact
- Alignment with Prosper NWT's goals
grant_single_labels|register
- Step 1: Initial Inquiry
- Contact Prosper NWT to express interest in the digital edge grant programs.
- Discuss eligibility and receive initial guidance from a digital advisor if needed.
- Step 2: Gather Documentation
- Collect all necessary documentation related to your business and digital project.
- Include project outlines, business plans, and financial statements.
- Step 3: Complete Application Form
- Access the application form through the Prosper NWT portal or receive it via email.
- Fill out all required sections with accurate information.
- Step 4: Proposal Submission
- Submit a detailed proposal outlining the digital project, goals, and expected impacts.
- Attach all gathered documentation and supporting materials.
- Step 5: Submission of Application
- Ensure all parts of the application and proposal are completed and accurate.
- Submit the completed application package via the Prosper NWT online portal or email if instructed otherwise.
- Step 6: Application Review and Follow-up
- Wait for acknowledgment of receipt from Prosper NWT.
- Be available for any follow-up questions or additional information requests from the evaluation team.
- Step 7: Notification of Decision
- Receive official notification regarding the status of your application.
- Discuss next steps with a digital advisor if your application is successful.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The name change to Prosper NWT indicates a broader vision for supporting economic growth in the territory.
- Prosper NWT is committed to helping businesses succeed, indicating strong support and resources for applicants.
- Digital advisors are available to assist businesses, offering guidance and expertise for digital projects.
- Flexible debt financing options are available, which could be complementary to the grant for eligible projects.
