Metis-Dene Development Fund
NT, Canada
Financial support for businesses in the Northwest Territories
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateJuly 09, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Métis-Dene Development Fund (MDDF)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Access loan guarantees, working capital loans, lines of credit, term loans, financing, and business advisory services for your Indigenous or non-Indigenous SME in the NWT.
grant_single_labels|terms_and_conditions
This fund provides various financial instruments aimed at supporting economic development and entrepreneurship in the Northern regions. The modalities offered are specifically designed to cater to the unique needs and challenges faced by businesses in these areas.
- Irrevocable Letters of Credit/Loan Guarantees to secure financing from other institutions.
- Term Loans for medium to long-term capital requirements.
- Working Capital Loans/Lines of Credit to manage short-term financial needs and cash flow.
- Entrepreneurship and Business Development (EBD) Fund for business expansion and development projects.
- Indigenous Women’s Entrepreneur Program (IWE) focused on supporting female Indigenous entrepreneurs.
- Business Support Services providing advisory and consulting support alongside financial products.
grant_single_labels|projects
Eligible projects for the Metis-Dene Development Fund aim to empower Indigenous entrepreneurs and build a robust Northern economy. The grant supports a range of financial services and development programs suitable for individuals and small businesses in the region.
- Access to Irrevocable Letters of Credit and Loan Guarantees for business ventures.
- Provision of Term Loans for long-term business investments.
- Offering Working Capital Loans and Lines of Credit to assist with daily operations.
- Support through the Entrepreneurship and Business Development (EBD) Fund for innovative business ideas.
- Specialized services under the Indigenous Women’s Entrepreneur Program (IWE) to empower women-led enterprises.
- Business Support Services providing guidance and resources for operational success.
grant_single|admissibleProjectsExample
$ 8,000
Create a community garden initiative
$ 30,000
Research and develop new energy-efficient HVAC systems
$ 25,000
Develop an e-commerce platform for Indigenous artists
$ 50,000
Purchase advanced manufacturing equipment for a start-up
$ 15,000
Launch a marketing campaign for organic skincare products
$ 20,000
Expand the services of a financial cooperative
grant_single_labels|admissibility
Eligibility for this grant focuses on the character and capacity of the applicant, along with specific business and community-oriented requirements.
- The applicant must be a business or entrepreneur seeking to contribute to the Northern economy.
- The applicant must demonstrate strong character and capacity to execute the business plan.
- Preference may be given to Indigenous and Northern entrepreneurs, particularly Indigenous women under certain programs.
- The business or project must have potential for economic development within the region.
grant_eligibility_criteria|who_can_apply
This grant targets businesses and entrepreneurs in Northern regions, with a particular focus on supporting Indigenous communities, women entrepreneurs, and projects that enhance local economic development.
- Indigenous entrepreneurs and businesses.
- Women who own or lead businesses, especially within Indigenous communities.
- Entrepreneurs starting or expanding businesses in Northern regions.
- Businesses contributing to the economic development of Northern communities.
- Initiatives that demonstrate a strong potential for positive economic impact in local communities.
grant_eligibility_criteria|eligible_expenses
This grant supports activities aimed at fostering entrepreneurship and business development among Indigenous communities in Northern Canada. The eligible projects are designed to enhance entrepreneurial capacity, support business growth, and facilitate economic development in the region.
- Entrepreneurial planning and development initiatives.
- Programs supporting Indigenous women entrepreneurs.
- Business training and mentorship programs.
- Access to financial products such as term loans and working capital loans.
- Provision of business support services tailored to regional needs.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria include:
- Applicant's character and capacity
- Region-specific challenges and opportunities
grant_single_labels|register
- Step 1: Identify Eligibility
- Review the specific grant or program criteria that applies to your needs, such as the EBD Fund or IWE Program.
- Determine if your project and business profile meet the criteria.
- Step 2: Gather Required Documentation
- Collect all necessary documents, including a business plan outlining your project proposal, financial forecasts, and any previous financial statements.
- Include any letters of endorsement from your community or partners.
- Step 3: Prepare Your Application
- Complete the application form provided by the fund provider.
- Ensure all details are accurate and clearly present your business case.
- Step 4: Submission of Application
- Submit your application as per the instructions provided, which may involve mailing physical documents or applying through an online portal.
- Confirm submission by reviewing acknowledgment receipt if provided.
- Step 5: Follow Up
- Monitor for any communication from the grant provider regarding your application's status.
- Be prepared to provide additional information if requested by the fund provider.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Applications are assessed periodically, and applicants should be aware of submission deadlines.
- Successful applicants may be required to attend a grant orientation session.
- A dedicated support team is available to assist applicants during the preparation of their application, providing guidance on required documentation.
- Previous recipients of similar grants may be contacted for references or testimonials.
- Collaboration with local economic development agencies is encouraged, potentially enhancing application strength.
Apply to this program
Empowering Indigenous Businesses Through Financial Support
Our grant programs are designed to support Indigenous entrepreneurs by providing crucial financial resources and business development assistance. By focusing on character and capacity, our approach facilitates inclusive economic growth across Northern Canada.
Detailed Overview of Our Grant Programs and Their Benefits
Our grant programs aim to revitalize Northern Canada's economic landscape by offering tailored financial solutions and support services specifically for Indigenous entrepreneurs. Central to our mission is the emphasis on assessing an applicant's character and capacity, rather than concentrating solely on financial metrics such as balance sheets or business plans. This approach allows us to understand the unique circumstances and potential of each applicant, fostering an inclusive economic environment that aligns with the cultural and social dynamics of the region.
The programs include a range of financial products and services such as Irrevocable Letters of Credit, Loan Guarantees, Term Loans, Working Capital Loans, Lines of Credit, and specific funds like the Entrepreneurship and Business Development (EBD) Fund and the Indigenous Women’s Entrepreneur Program (IWE). Each of these offerings is carefully structured to address different aspects and stages of business development, ensuring that Indigenous businesses have the necessary support to thrive.
Furthermore, our Business Support Services provide entrepreneurs with comprehensive assistance beyond direct financial aid. This includes access to mentorship, strategic planning resources, and operational guidance tailored to small and medium-sized enterprises. Our team of experts, with profound knowledge of the regional challenges and opportunities, works closely with entrepreneurs to identify growth areas and develop strategies to capitalize on them, contributing to the overall health of the Northern economy.
One of the significant advantages of our grant programs is their targeted focus on Indigenous women entrepreneurs through the Indigenous Women’s Entrepreneur Program. This program acknowledges the unique barriers faced by women in business and offers specialized support to overcome them, fostering a more equitable entrepreneurial ecosystem.
Our intimate understanding of the regional economic landscape positions us uniquely to offer insights and guidance that few others can match. By collaborating with community leaders, economic stakeholders, and government bodies, we ensure that our grant programs are not only financially supportive but also culturally resonant and socially impactful.
In summary, our grant programs are more than just financial assistance—they represent a commitment to supporting Indigenous communities by enabling entrepreneurs to realize their full potential. By focusing on character and capacity, and with our deep regional knowledge, we are dedicated to building a resilient and inclusive economy in Northern Canada that benefits everyone.
