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.
The Department of Economic Development and Transportation (EDT) 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.
Baffin Business Development Corporation (BBDC)
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.)
PO Box 1480
Inuqsugait Plaza
Iqaluit, NU
X0A 0H0
Ph: (867) 979-1303
Fax: (867) 979-1508
Website: www.baffinbdc.ca
Email: val.kosmenko@baffinbdc.caKeewatin Business Development Centre (KBDC)
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.)
PO Box 328
Rankin Inlet, NU
X0C 0G0
Ph: 1-888-645-2126
Fax: (867) 645-4546
Email: kbdcgm@qiniq.com
Kitikmeot Community Futures Incorporated (KCFI)
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.)
PO Box 1331
16 Koihok Maghagak
Cambridge Bay, NU
X0B 0C0
Website: www.kcfi.ca
Phone: (867) 983-7383
Fax: (867) 983-7380
Email: mepp@kcfi.ca
Atuqtuarvik Corporation
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.
PO Box 900
Rankin Inlet, NU
X0C 0G0
Ph: (867) 645-5900
Nunavut Toll Free: 1-888-645-5901
Fax: (867) 645-5910
E-mail: contact@atuqtuarvik.com
Website: www.atuqtuarvik.com
Kakivak Association
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.)
PO Box 1419
Parnaivik Building 924
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.caKivalliq Partners in Development (KPID)
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.
PO Box 709
Bayshore Conference Centre
Rankin Inlet, NU
X0C 0G0
Ph: (867) 645-2123
Fax: (867) 645-2170
Email: kpidbusiness@netkaster.ca
RBC - Iqaluit
Building #922
Iqaluit, NU
X0A 0H0
Ph: (867) 979-8700
Website: www.rbc.comRBC - Rankin Inlet
220 Okingutigiit Building
Rankin Inlet, NU
X0C 0G0
Ph: (867) 645-3260
Website: www.rbc.comRBC- Cambridge Bay
Kamotik Rd # 4
Cambridge Bay, NU
X0E 0C0
Ph: (867) 983-2007
Website: www.rbc.comCIBC - Iqaluit
11 Ring Road
Iqaluit, NU
X0A 0H0
Ph: (867) 979-8663
Website: www.cibc.comCIBC - Rankin Inlet
Rankin Inlet, NU
X0C 0G0
Ph: (867) 645-2863
Website: www.cibc.comFirst Nations Bank
Iqaluit, NU
X0A 0H0
Ph: (867) 975-3700
Website: www.firstnationsbank.com