How much funding can be received?

Funds up to 200000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Community Futures Program Northwest Territories?

Community Futures Program Northwest Territories is funded by Northwest Territories Community Futures Association (NWTCFA)

What are Community Futures Program Northwest Territories's eligibility criterias?

Access to the program is available to all 33 communities within the Northwest Territories. Services are provided by Community Futures Development Corporations.

Community Futures Program Northwest Territories

Last Update: January 24, 2025

NT, Canada

Northwest Territories business loans and counselling

Community Futures Program Northwest Territories at a glance

Eligible Funding

Max. $200,000

Timeline

Continuous Intakes

Financing Type

Expert Advice

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Northwest Territories Community Futures Association (NWTCFA)

Status

Open

Overview of the Community Futures Program Northwest Territories program

Get a loan or guarantee of up to $200,000, wage subsidies, as well as access to business counselling services, to start or expand a business.

Financing terms and conditions

The Community Futures Program in the Northwest Territories provides varied financing modalities to support community economic initiatives. These modalities are designed to offer financial support and guidance to entrepreneurs and businesses within the region.

Term loans up to a maximum of $200,000 provided to businesses for development and expansion.
Business loan guarantees to aid companies in securing necessary funding.
Wage subsidies offered to unemployed individuals aiming to start new businesses, assisting with initial employment costs.

Eligible projects & activities

The Community Futures Program supports various economic initiatives aimed at helping entrepreneurs and businesses in the Northwest Territories. The focus is on providing financial and advisory support to foster business growth and development.

Provision of business loans and loan guarantees for entrepreneurs.
Business counseling services for individuals starting or expanding a business.
Wage subsidies for unemployed individuals starting a new business.
Access to Canada Business NWT Internet sites and business information services.

Examples of admissible projects:

$ 200,000

Setting up a green energy manufacturing unit focusing on solar panel production

$ 200,000

Opening a specialty coffee shop with premium imported beans and pastries

$ 200,000

Launching a tech startup focused on AI-driven healthcare solutions

$ 200,000

Creating an online mental health platform offering accessible therapy services

$ 200,000

Expanding a non-profit food bank's services to reach more vulnerable populations

Eligibility criteria of the Community Futures Program Northwest Territories program

Eligibility for the Community Futures Program is determined based on the participation and location within the NWT communities.

The applicant must be an entrepreneur or a business located within one of the 33 communities in the Northwest Territories.
The applicant must demonstrate a need for economic development support specific to their business goals.
For wage subsidies, the applicant must be unemployed and intending to start a new business.
The applicant may need to engage with their regional Community Futures Development Corporation for specific guidance and support.

Who is eligible?

The Community Futures Program is available to all 33 communities in the Northwest Territories (NWT), and it is delivered through regional Community Futures Development Corporations. These organizations operate as non-profit entities independent of the government, serving their local areas through volunteer Boards of Directors. Any individuals or entities looking to start or expand a business in these communities can potentially benefit from the services offered, such as business loans, counseling, and wage subsidies for unemployed entrepreneurs.

Who is not eligible

Some types of companies may not be eligible for the Community Futures Program grant. Certain industries or businesses that do not align with the economic development goals of the program may be ineligible.

Businesses involved in illegal activities
Speculative ventures
Non-commercial ventures

Eligible expenses

The Community Futures Program is designed to encourage local economic development through a range of supportive services. Eligible activities under this program primarily revolve around providing financial aid and guidance to new and expanding businesses.

Offering business loans and loan guarantees.
Providing counseling and assistance for entrepreneurs.
Administering wage subsidies to support new business initiatives by the unemployed.
Facilitating access to Canada Business NWT Internet sites and business information services.

Eligible geographic areas

This grant is available to all communities within the Northwest Territories as it is delivered regionally by Community Futures Development Corporations located in the territory. The program aims to support community-based economic initiatives across the region.

All 33 communities in the Northwest Territories.

Eligibility criteria of the Community Futures Program Northwest Territories program

The Community Futures Program has evaluation and selection criteria that applicants must meet. The criteria include:

Demonstrated need for financial assistance
Viability of the proposed business or project
Ability to repay the loan
Potential for economic development impact

How to apply to the Community Futures Program Northwest Territories program

Contact Regional Office

Identify your regional office from the provided contact list.
Contact the office using the provided telephone numbers to inquire about the application process and obtain guidance specific to your region.

Gather Required Information

Collect information about your business idea, including your business plan and financial projections.
Prepare documentation related to your business’s financial status, if applicable.

Develop Application

Prepare your application, ensuring you address all required aspects such as business goals, strategic direction, and how the funding will be used.
Include any additional required information specific to your regional Community Futures Development Corporation.

Submit Application

Submit your completed application to the regional Community Futures Development Corporation either in person, by mail, or as directed by your regional office.
Ensure you receive confirmation of receipt of your application, if possible.

Follow Up

Follow up with your regional office for updates on your application status and any further information or steps required.

Additional information

Here are additional relevant details for this grant:

The program is delivered through Community Futures Development Corporations which are independent non-profit organizations.
These organizations are overseen by volunteer Boards of Directors representing their regions and communities.
Annual funding is sourced from contributions by the Government of the Northwest Territories.
Contact regional offices for information specific to your community.
There is an Association representing the seven organizations delivering the programs in NWT.