Community Futures Program Northwest Territories
NT, Canada
Northwest Territories business loans and counselling
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Northwest Territories Community Futures Association (NWTCFA)
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|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.
grant_single_labels|projects
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.
grant_single|admissibleProjectsExample
$ 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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
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.
grant_single_labels|criteria
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
grant_single_labels|register
- Step 1: 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.
- Step 2: 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.
- Step 3: 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.
- Step 4: 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.
- Step 5: Follow Up
- Follow up with your regional office for updates on your application status and any further information or steps required.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
867-587-7171
