Kitikmeot Community Futures

This grant offers various flexible financing modalities designed to support business initiatives in the Kitikmeot Region. These modalities aim to meet diverse business needs while promoting economic growth.

• Term loans for capital and operational expenses.
• Guarantees and bid bonds to assist in securing contracts.
• Startup funds to support new business ventures.
• Inventory supply financing to maintain adequate stock levels.
• Capital funds available for business expansion and infrastructure improvements.
• Business counseling and technical assistance for strategic planning and development.
• Business planning and monitoring assistance for ongoing support.
• Line of Credit to provide liquidity for meeting short-term financial requirements.

Eligibility for assistance through the Kitikmeot Community Futures Inc. (KCFI) services is linked to criteria relevant to businesses and economic activities within the Kitikmeot Region.

• Applicants must be based in the Kitikmeot Region, including communities like Cambridge Bay, Kugluktuk, Gjoa Haven, Kugaaruk, Taloyoak, Bay Chimo, and Bathurst Inlet.
• Eligible applicants must be non-profits, community organizations, or small businesses.
• Services target supporting indigenous women to start or expand their businesses, as well as reducing barriers for them.
• The business must demonstrate alignment with the mission to support community economic development in the Kitikmeot Region.

Who is eligible?

Who is not eligible

Some specific types of companies may not be eligible for this grant:

• Large corporations
• Financial institutions
• Gambling establishments

Eligible expenses

The eligible projects and activities for this grant focus on providing financial assistance and support services to individuals and businesses in the Kitikmeot Region. These initiatives aim to enhance business operations, facilitate startup growth, and offer business planning support.

• Provision of term loans and guarantees/bid bonds for business operations.
• Offering startup funds to assist new business ventures.
• Supplying inventory and capital funds for business needs.
• Providing business counseling and technical assistance.
• Assisting with business planning and monitoring.
• Offering a line of credit for financial stability.

Eligible geographic areas

This grant is specifically available to businesses located within the Kitikmeot Region of Nunavut, Canada. This focus on localities ensures support for regional economic development and community well-being.

• Cambridge Bay
• Kugluktuk
• Gjoa Haven
• Kugaaruk
• Taloyoak
• Bay Chimo
• Bathurst Inlet

There are evaluation and selection criteria for this grant.

• Financial need and viability of the project
• Social and economic impact on the community
• Ability to create jobs and contribute to the local economy
• Alignment with grant objectives and priorities
• Demonstrated capacity to successfully implement the project

The Kitikmeot Community Futures Inc. provides various services and resources to assist potential grant applicants, particularly in the Kitikmeot Region.

• The Canada Nunavut Business Service Centre offers facilities for job searching and business research.
• Bookkeeping services are available for managing compliance with regulatory agencies, particularly for small businesses and non-profit organizations.
• There is a Catalyste+ Advisory and Mentorship Program designed to offer guidance and mentorship.
• KCFI is committed to reducing barriers for Indigenous women in business.
• Loans of up to $450,000 are available for various business purposes including term loans, guarantees, startup funds, and capital funds.
• The KCFI AGM provides opportunities for networking and obtaining more information about their services.
• The organization occasionally hires, providing potential opportunities for involvement at a governance level.