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Kakivak Association — Makigiaqvik Loans - NU - Canada

Kakivak Association — Makigiaqvik Loans

Last Update: July 22, 2025
NU, Canada
Loans for Inuit business in Nunavut’s Qikiqtani Region

At a glance

Eligible Funding
  • Max. $25,000
  • Up to 8% of project cost
Timeline
  • Unspecified
Financing Type
Loans and Capital investments
Eligible Industries
  • Retail trade
  • Arts, entertainment and recreation
  • Accommodation and food services
  • Other services (except public administration)
Funds Providers
Program status
Open

Overview

Access a loan of up to $50,000 with an interest rate of 8.5% to establish or expand a business.

Financing terms and conditions

The Makigiaqvik Loans offer financial support with structured terms to help Inuit owned businesses in their development projects. These loans provide a substantial amount with specified interest and repayment conditions.

  • Secured term loans are available for up to $50,000.
  • Fixed interest rate of 8.5% is applicable on the loans.
  • Loans feature repayment schedules extending up to 7 years.

Activities funded

The Makigiaqvik Loans program offers financial assistance to eligible Inuit-owned businesses aimed at establishing or expanding their operations. The focus is on identifying and supporting projects that are viable and capable of creating employment in their communities.

  • Financing for the establishment of new Inuit-owned businesses.
  • Financial support for the expansion of existing Inuit-owned businesses.
Examples of admissible projects:
$ 25,000
Establish a mobile clinic offering free health services to underserved populations
$ 25,000
Expand a local bakery offering gluten-free and vegan products
$ 25,000
Create a recycling program in partnership with local schools
$ 25,000
Open an art gallery focusing on local artists and interactive exhibits
$ 25,000
Launch a tech startup specializing in AI-driven healthcare solutions
$ 25,000
Set up a community cafe with a focus on local, organic foods

Eligibility

The eligibility criteria for this grant are specifically tailored to support Inuit owned businesses and certain professions within the Qikiqtani Region.

  • The business must be Inuit owned.
  • The business must be located within the Qikiqtani Region.
  • The applicant for the Economic Opportunity Fund must be a tourism-based business operating in one of the specified communities adjacent to the National Parks: Grise Fiord, Resolute Bay, Arctic Bay, Pond Inlet, Qikiqtarjuaq, or Pangnirtung.
  • For Small Tool Grants, the applicant must be an artist or craftsperson.

Who is eligible?

This program is specifically available to Inuit-owned businesses operating in the Qikiqtani Region and aims to support economic development and business expansion within this community.

Eligible expenses

The Economic Opportunity Fund supports tourism-based business initiatives in specific communities within the Qikiqtani Region. Projects eligible for this funding focus on equipment acquisition, safety enhancements, and marketing projects to boost tourism and economic activities.

  • Purchase of new equipment for tourism-based businesses.
  • Acquisition of safety gear to enhance operational safety standards.
  • Development and implementation of marketing initiatives to promote tourism.

Eligible geographic areas

This grant is available to companies in specific regions designated by the program to support regional business growth. The focus is on Inuit-owned businesses within the Qikiqtani Region.

  • Businesses must be located within the Qikiqtani Region.
  • Eligible communities include Grise Fiord, Resolute Bay, Arctic Bay, Pond Inlet, Qikiqtarjuaq, and Pangnirtung.

How to apply

1

Contact Kakivak's Business Services Department

  • Make an appointment to discuss your business plans and eligibility with a Business Development Officer.
  • Call the Kakivak toll-free number if you have any questions or need guidance.
2

Access Application Forms

Download the PDF version of the application form for the specific grant you are interested in from Kakivak's website.
3

Prepare Your Application

  • Complete the application form with detailed information about your business and your funding requirements.
  • Gather any necessary supporting documentation, such as business plans, financial statements, or proposals.
4

Submit Your Application

Submit your completed application and all supporting documents to Kakivak's Business Services Department by the specified means (e.g., email, mail, or in-person submission).
5

Follow Up

  • Contact Kakivak to confirm the receipt of your application.
  • Inquire about the status of your application and any further steps if required.
Apply to this program

Frequently Asked Questions about the Kakivak Association — Makigiaqvik Loans Program

Here are answers to the most common questions about the Kakivak Association — Makigiaqvik Loans. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the Kakivak Association — Makigiaqvik Loans?

How much funding can be received?

What expenses are eligible under Kakivak Association — Makigiaqvik Loans?

What is the deadline to apply?

Is the Kakivak Association — Makigiaqvik Loans a grant, loan, or tax credit?

Who are the financial supporters of the Kakivak Association — Makigiaqvik Loans?

Who is eligible for the Kakivak Association — Makigiaqvik Loans program?

Who can I contact for more information about the Kakivak Association — Makigiaqvik Loans?

Where is the Kakivak Association — Makigiaqvik Loans available?

Are startups eligible for the Kakivak Association — Makigiaqvik Loans program?

Are Indigenous Peoples eligible for the Kakivak Association — Makigiaqvik Loans program?

Apply to this program

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