How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the BDIC — Term Loans?

BDIC — Term Loans is funded by Business Development and Investment Corporation, Government of the Northwest Territories

What are BDIC — Term Loans's eligibility criterias?

The business must be located in the Northwest Territories. The applicant should be involved in business start-up, growth, or digital enhancement activities.

BDIC — Term Loans

Last Update: January 24, 2025

NT, Canada

Term loans for Northwest Territories businesses

BDIC — Term Loans at a glance

Eligible Funding

No Condition

Timeline

Closing date : May 17, 2024

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Business Development and Investment Corporation
Government of the Northwest Territories

Status

Closed

Overview of the BDIC — Term Loans program

Variety of fixed and variable interest rate term loans available to businesses that are unable to secure financing elsewhere.

Financing 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.

Eligible projects & activities

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.

Examples of admissible projects:

$ 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

Eligibility criteria of the BDIC — Term Loans program

Eligibility for this grant is not specifically detailed in the provided information.

Who is eligible?

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.

Who is not eligible

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)

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.

Eligible geographic areas

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).

Eligibility criteria of the BDIC — Term Loans program

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

How to apply to the BDIC — Term Loans program

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.

Gather Documentation

Collect all necessary documentation related to your business and digital project.
Include project outlines, business plans, and financial statements.

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.

Proposal Submission

Submit a detailed proposal outlining the digital project, goals, and expected impacts.
Attach all gathered documentation and supporting materials.

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.

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.

Notification of Decision

Receive official notification regarding the status of your application.
Discuss next steps with a digital advisor if your application is successful.

Additional information

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.

Apply to this program

Funding for economic initiatives in the Northwest Territories