Financing agencies

If you are looking for sources of financing, whether it is in the form of grants, loans, or equity investment, there is likely a match for you in Nunavut.

Some of the financial agencies listed here also provide business development support and advice to businesses. Please also see our listing of Business Development Organizations, who may be able to assist you with start up and ongoing business advice.


Government of Nunavut - Economic Development and Transportation


The Department of Economic Development and Transportation administers a variety of funding programs to encourage economic development and transportation projects to individuals, businesses, organizations and communities under the following programs:
 
  • Arts and Crafts Development
  • Small Business Support
  • Strategic Investments
  • Program Partnerships
  • Community Access Roads
  • Prospectors Assistance

Grants and contributions exist as small as $5000 to over $100,000 in support. For details, application forms, and contacts for the various programs, see EDT’s website.


Community Futures Groups


    Baffin Business Development Corporation (BBDC)
    PO Box 1480
    Inuqsugait Plaza, Iqaluit, NU X0A 0H0
    Ph: 867 979-1303
    Fax: 867 979-1508
    Email: val.kosmenko@baffinbusinessdevelopment.com
    Website: www.baffinbdc.ca

Serving the Baffin region of Nunavut, BBDC provides debt financing and equity investment to Inuit and non-Inuit, small and medium-sized businesses. Maximum loan amounts are $250,000. BBDC administers the Small Business Support Program (SBSP) for the Government of Nunavut’s Department of Economic Development and Transportation for fiscal year 2009-2010. The SBSP Program provides small grants to eligible small businesses. BBDC also provides business counseling. (see Business Development Organizations.)

    Keewatin Business Development Centre (KBDC)
    PO Box 328, Rankin Inlet, NU X0C 0G0
    Ph: 1-888-645-2126
    Fax: 867 645-4546
    Email: kbdcgm@qiniq.com

Serving the Kivalliq region of Nunavut, KBDC provides debt financing and equity investment to Inuit and non-Inuit, small and medium-sized businesses. Maximum loan amounts are $150,000. KBDC also provides business counseling. (see Business Development Organizations.)

    Kitikmeot Community Futures Incorporated (KCFI)
    PO Box 1331
    Cambridge Bay, NU, X0B 0C0
    website: www.kcfi.ca
    phone: 867-983-7383
    fax: 867-983-7380
    Email: mepp@kcfi.ca or todds@kcfi.ca

Serving the Kitikmeot region of Nunavut, KCFI provides debt financing and equity investment to Inuit and non-Inuit, small and medium-sized businesses. Maximum loan amounts are $150,000. KCFI also provides business counseling. (see Business Development Organizations.)


Inuit - Specific Financing Organizations


    Atuqtuarvik Corporation
    P.O. Box 900
    Rankin Inlet, NU, X0C 0G0
    Ph: 867 645-5900
    Nunavut Toll Free: (888) 645-5901
    Fax: 867 645-5910
    E-mail: contact@atuqtuarvik.com
    Website: www.atuqtuarvik.com

Specializing in loans and equity investments to Inuit-owned businesses for the purpose of business start-ups, acquisitions and expansions. Atuqtuarvik Corporation is an investment company that was created by Nunavut Tunngavik Incorporated (NTI) and Nunavut Trust to help ensure direct Inuit participation in major economic opportunities. Eligible projects must be commercially viable, Nunavut-based and create benefits for Inuit in the areas of jobs, training and social improvements. Atuqtuarvik Corporation provides loans and equity investments between $100,000 to $3,000,000.

    Kakivak Association
    Parnaivik Building 924
    P.O. Box 1419
    Iqaluit, NU
    X0A 0H0
    Ph: 867-979-0911
    Toll free: 1-800-561-0911
    Fax: 867-979-3707
    Email: info@kakivak.ca
    Website: www.kakivak.ca

Kakivak Association is a community and economic development organization serving Inuit in the Qikiqtani region.  Kakivak provides business, employment and training services to enhance the strengths of Qikiqtani communities.  Kakivak provides grants and loans to eligible Inuit businesses for pre-start up, start up and expansion activities in all sectors.  Kakivak also has a micro-business program, funding tools and equipment for Inuit carvers and sewers.  Kakivak’s  website contains detailed information and applications for their various programs. (See Business Development Organizations.)

    Kivalliq Partners in Development (KPID)
    PO Box 709
    Bayshore Conference Centre
    Rankin Inlet NU, X0C 0G0
    Ph: 867-645-2123
    Fax: 867-645-2170
    Email:kpidbusiness@netkaster.ca

Kivalliq Partners in Development provides grants for eligible Kivalliq Inuit-owned businesses. KPID provides grants for pre-start-up, start up, expansion, and business relief to a maximum of $125,000. For livelihood businesses such as carving and harvesting, these small businesses can obtain grants of up to $5000 a year, for a total lifetime amount of $10,000. KPID was established by the Kivalliq Inuit Association to support Inuit-owned businesses in the Kivalliq region to stimulate employment and economic opportunities for Inuit.


Banks Located In Nunavut


    RBC - Iqaluit
    Building #922
    Iqaluit, NU, X0A 0H0
    Ph: 867 979-8700
    Website: www.rbc.com

    RBC - Rankin Inlet
    220 Okingutigiit Building
    Rankin Inlet, NU X0C 0G0
    Ph: 867 645-3260
    Website: www.rbc.com

    RBC- Cambridge Bay
    Kamotik Rd # 4
    Cambridge Bay NU, X0E 0C0
    Ph: 867 983-2007
    Website: www.rbc.com

    CIBC - Iqaluit
    11 Ring Road
    Iqaluit, NU,  X0A 0H0
    Ph:  867 979-8663
    Website: www.cibc.com

    CIBC - Rankin Inlet
    Rankin Inlet, NU X0C0G0
    Ph: 867 645-2863
    Website: www.cibc.com

    First Nations Bank
    Iqaluit, NU
    X0A 0H0
    Ph: 867 975-3700
    Website: www.firstnationsbank.com
    *Retrieved First Nations Bank info from their website