Kivalliq Business Development Centre
NU, Canada
Financing and business guidance in the Kivalliq region
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Tax Credits
Loans and Capital investments
Wage Subsidies And Interns
Expert Advice
Researchers And Facilities
Partnering and Collaboration
Other Support
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|projects
The grant is available to companies located in the Kivalliq Region of Nunavut. Organizations in specific communities are targeted to enhance local economic development.
- Baker Lake
- Coral Harbour
- Chesterfield Inlet
- Rankin Inlet
- Whale Cove
- Arviat
- Naujaat (Repulse Bay)
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
The loans from Kivalliq Business Development Centre cover expenses related to business development and support in the Kivalliq region.
- Term loans for general business purposes.
- Guarantees and bid bonds to support business operations.
- Startup funds for new business ventures.
- Inventory supply to maintain business stock levels.
- Capital funds for business investment and growth.
- Business counselling and technical assistance for business management.
- Business planning and monitoring assistance to ensure successful business operation.
- Line of credit for business financial management.
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.
Apply to this program
Empowering Community Growth through the Kivalliq Business Development Centre Grant
The Kivalliq Business Development Centre (KBDC) offers a grant program aimed at supporting new business ventures in the Kivalliq region by providing loans and business assistance to aspiring entrepreneurs and existing enterprises. This initiative plays a crucial role in enhancing economic development and social well-being across the communities it serves.
In-Depth Information on the Kivalliq Business Development Centre Grant
The Kivalliq Business Development Centre operates under the guiding principle of fostering community economic development within the Kivalliq region, a mission that interconnects with various strategic goals aimed at enhancing both the social and economic landscape of the area. This approach recognizes the vital role of small and medium-sized enterprises (SMEs) in driving the economic engine of communities. By offering access to loans for amounts up to $150,000, KBDC provides a financial lifeline to projects that may not qualify for traditional financial products, thereby building a bridge for entrepreneurial ventures seeking a launching pad or expansion opportunities.
Through its robust suite of services, which includes term loans, startup funds, capital funds, and lines of credit, KBDC extends its expertise to nurture the entrepreneurial spirit of the region. Additionally, the Centre offers business counseling and technical assistance, ensuring that businesses are not only funded but also guided and mentored through their development phases. This comprehensive support framework is particularly beneficial as it allows businesses that would otherwise face significant financial barriers to access the resources and advice necessary to thrive.
Moreover, KBDC extends its reach beyond financial assistance by emphasizing the importance of community involvement and social benefits. When assessing loan applications, the organization looks beyond the immediate profitability of a business proposal. Instead, it evaluates the potential for social and community impact in both the short and long term. This holistic view reinforces KBDC’s commitment to not only economic growth but also to social cohesion and community wellness across Baker Lake, Coral Harbour, Chesterfield Inlet, Rankin Inlet, Whale Cove, Arviat, and Naujaat.
Understanding the unique challenges faced by businesses during the COVID-19 pandemic, KBDC has introduced specific funding programs to assist with short-term stabilization and economic recovery. By providing critical support during these unprecedented times, the Centre ensures that businesses in the Kivalliq region can continue to operate and recover, maintaining the socio-economic fabric of the communities it serves.
The KBDC’s mission includes a unique dedication to the development of skills and capacity within businesses, offering tools such as business planning and monitoring assistance. This approach seeks to create a sustainable foundation for long-term growth and resilience. Entrepreneurs are not only recipients of financial support but also beneficiaries of a comprehensive development program designed to enhance business acumen and operational efficiency.
In summation, the Kivalliq Business Development Centre Grant serves as a catalytic resource promoting entrepreneurial endeavors that align with broader societal goals. It epitomizes a model of community-focused economic stimulus, leveraging financial interventions to amplify social well-being and economic resilience. This program stands as an essential instrument for businesses in the Kivalliq region, nurturing projects that aspire to make impactful contributions to their communities. Through its multifaceted support systems, KBDC ensures that the potential benefits of economic activities extend throughout the region, building a legacy of growth and communal prosperity.
