How much funding can be received?

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.

grant_single_labels|projects

Kitikmeot Community Futures supports various projects and activities focusing on enhancing the economic and social welfare of the Kitikmeot Region. Eligible activities include financial assistance and advisory services for business development and community growth.

Provision of term loans, guarantees/bid bonds, and startup funds for businesses.
Support for inventory supply and access to capital funds for businesses.
Offering business counseling and technical assistance to small enterprises.
Facilitating business planning and monitoring assistance for new and existing businesses.
Extending lines of credit to support business operations in the Kitikmeot Region.
Reducing barriers for indigenous women entrepreneurs through tailored programs.

grant_single|admissibleProjectsExample

$ 150,000

Expansion of organic grocery store to include a new product line and sustainable packaging

$ 160,000

Creating an online marketplace for artisan products made by Indigenous communities

$ 180,000

Establishing a community arts centre offering workshops and exhibitions in downtown Winnipeg

$ 300,000

Launching a tech startup to develop an AI-driven financial planning tool for SMEs

$ 100,000

Renovation of a restaurant kitchen to meet new health and safety standards

$ 300,000

Setting up a solar panel installation service focused on residential properties

grant_single_labels|admissibility

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.

grant_eligibility_criteria|who_can_apply

This grant is intended for individuals and enterprises operating within the Kitikmeot Region of Nunavut, including areas such as Cambridge Bay, Kugluktuk, Gjoa Haven, Kugaaruk, Taloyoak, Bay Chimo, and Bathurst Inlet. It particularly aims to support non-profit organizations, small businesses, and Indigenous women who are starting or growing their business ventures.

grant_eligibility_criteria|who_cannot_apply

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

Large corporations
Financial institutions
Gambling establishments

grant_eligibility_criteria|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.

grant_eligibility_criteria|zone

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

grant_single_labels|criteria

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

grant_single_labels|register

Step 1: Download Application Form
- Visit the official KCFI website.
- Locate and download the application form for assistance.
Step 2: Complete Application Form
- Fill in all required fields in the application form accurately including personal, business, and financial information.
- Prepare all necessary supporting documents such as financial statements, business plans, and identification.
Step 3: Prepare Business Plan
- Download the Business Plan Template from the KCFI website.
- Develop a comprehensive business plan that outlines business objectives, strategies, and financial forecasts.
Step 4: Contact and Submission
- Reach out to the KCFI via email or phone to discuss your application and seek guidance if needed.
- Submit the completed application form and all supporting documents to the KCFI office at 16 Koihok Maghagak Road or via their specified email contact.

grant_single_labels|otherInfo

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.