Kivalliq Business Development Centre
NU, Canada
Financing and business guidance in the Kivalliq region
grant_single|update January 24, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Kivalliq Business Development Centre
grant_single|status
grant_card_status|open
grant_single_labels|preview
Access loan funds and assistance to develop your business activities and community-based projects.
grant_single_labels|terms_and_conditions
The Kivalliq Business Development Centre provides various loan options to support new business developments in the Kivalliq region. Businesses unable to secure bank loans can explore these modalities for financial assistance and growth support.
- Term loans of up to $150,000 for eligible businesses.
- Guarantees/bid bonds to support business transactions.
- Startup funds to aid the establishment of new businesses.
- Inventory supply financing to maintain stock levels.
- Capital funds to invest in business infrastructure.
- Business counseling and technical assistance to enhance business operations.
- Business planning and monitoring assistance for ongoing development and success.
- Lines of Credit to help manage business cash flow.
grant_single_labels|projects
The Kivalliq Business Development Centre offers financial assistance and support to businesses in the Kivalliq region in Nunavut. These initiatives aim to foster community economic development and enhance the business landscape through diverse support services.
- Provision of term loans for new and existing businesses.
- Issuance of guarantees and bid bonds for business projects.
- Startup funds to assist new businesses in their initial phase.
- Financing for inventory supply to support ongoing business operations.
- Access to capital funds for business expansion or development.
- Business counseling and technical assistance to enhance business capabilities.
- Business planning and monitoring assistance to ensure growth and compliance with goals.
- Line of Credit facilities for flexible financial management.
grant_single|admissibleProjectsExample
$ 100,000
Develop a renewable energy consultancy
$ 45,000
Community garden project to promote local food security
$ 85,000
Create a youth entrepreneurship program
$ 150,000
Expansion of a zero-waste grocery store
$ 120,000
Develop a mobile app for local food delivery
$ 75,000
Launch an indigenous artisan cooperative
grant_single_labels|admissibility
Eligibility for receiving loans and support from the Kivalliq Business Development Centre is based on certain criteria to enhance economic growth and benefit the community within the Kivalliq Region.
- The business must operate in one of the following areas: Baker Lake, Coral Harbour, Chesterfield Inlet, Rankin Inlet, Whale Cove, Arviat, Naujaat (Repulse Bay).
- The business should contribute to the social and economic well-being of the Kivalliq Region.
- The applicant must intend to use the loan or support for purposes such as starting up, securing inventory supply, capital funds, or for business planning and technical assistance.
- The business should demonstrate social and community benefits in addition to potential profits.
- Applicants should not be able to obtain loans from traditional banking institutions like banks or credit unions.
grant_eligibility_criteria|who_can_apply
Eligible applicants for funding from the Kivalliq Business Development Centre must be businesses that demonstrate potential community and social benefits while supporting economic development in the Kivalliq Region.
grant_eligibility_criteria|eligible_expenses
Kivalliq Business Development Centre offers various funding programs for businesses in the Kivalliq region. The eligible projects and activities are focused on providing financial support and assistance to new and existing businesses for growth and community development.
- Obtaining term loans for business expansion and development.
- Accessing guarantees or bid bonds for commercial ventures.
- Securing startup funds for new business initiatives.
- Procuring inventory supply to support business operations.
- Acquiring capital funds for business infrastructure.
- Receiving business counseling and technical assistance.
- Engaging in business planning and monitoring support services.
- Utilizing a line of credit for financial flexibility.
grant_eligibility_criteria|zone
This grant supports companies in the Kivalliq region to ensure economic development and stability. The eligible areas are selected based on their geographical location within this region.
- Baker Lake
- Coral Harbour
- Chesterfield Inlet
- Rankin Inlet
- Whale Cove
- Arviat
- Naujaat (Repulse Bay)
grant_single_labels|criteria
The evaluation and selection criteria for projects under this grant focus on various aspects of potential business development and community impact.
- Assessment of the project's potential social and community benefits.
- Evaluation of the applicant's business plan and readiness.
- Financial need and inability to secure financing from traditional banks or credit unions.
- Potential for sustainable economic contribution to the Kivalliq Region.
- Support for community economic development as aligned with KBD's mission.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Download Application Form
- Visit the Kivalliq Business Development Centre website.
- Navigate to the 'Apply for Assistance' section.
- Download the relevant application form for the funding program of interest.
- Step 2: Prepare Documentation
- Complete the application form with the necessary business and personal details.
- Prepare a detailed business plan using the provided template, if applicable.
- Gather any supplementary documents or information required by the funding program.
- Step 3: Application Submission
- Ensure all forms and documents are properly completed and compiled.
- Submit the application as instructed by Kivalliq Business Development Centre, either electronically or by mail.
- Keep a copy of all submitted documents for your records.
- Step 4: Follow-up
- Await confirmation of receipt from Kivalliq Business Development Centre.
- Ensure that you are available for any potential follow-up discussions or requests for additional information.
