Don’t let money be an obstacle between you and your goals for your business! There are many agencies and government departments in Nunavut that offer funding and lending programs for businesses to start up, grow and expand. Many of the organizations below also provide free business counselling services.
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Government of Nunavut
Small Business Support Program (ED&T)
This program provides small businesses, community organizations and individuals with support to grow. Program eligibility is limited to Nunavut Residents and businesses majority-owned by Nunavut Residents.
Community Tourism & Cultural Industries Program (ED&T)
This program strengthens community infrastructure and readiness for tourism. Outfitters, tourist establishments, businesses, artist organizations, hunters and trappers organizations, artists, societies, studios or artist co-operatives and municipalities can apply for funding.
Marketing Assistance Program
Members of Travel Nunavut can apply to our Marketing Assistance Program to be reimbursed up to $1,000 at the end of each fiscal year towards the cost of marketing activities such as advertising campaigns, brochures, attendance at trade shows and more. Email us to find out more!
Regional Community Futures Groups
Each region in Nunavut has a Community Futures Group that provides loans and equity investments to small and medium-sized Nunavut businesses, along with free business counselling services. Baffin Business Development Corporation: www.baffinbdc.ca Keewatin Business Development Centre: firstname.lastname@example.org Kitikmeot Community Futures: www.kcfi.ca
Nunavut Business Credit Corporation (NBCC)
Helping everyone from airline and hotel owners, to outfitters, retailers, artists and food producers, NBCC is working to ensure Nunavut businesses can obtain the financing they need — when they need it. NBCC provides financing up to $1,000,000 to both Inuit and non-Inuit businesses based in Nunavut.
Visit the NBCC website at www.nbcc.nu.ca for more information.
Nunavut Development Corporation
The Nunavut Development Corporation, through its venture investment program, helps Nunavut-based operations, including tourism operations, by providing investment capital. Key criteria in assessing eligibility includes a strong prospect for commercial viability, job creation or income-generation potential, demonstrated co-investor participation, and an eventual equity-oriented, non-controlling interest position in the company.
The following organizations provide grants and loans to Inuit-owned businesses in Nunavut:
Created by NTI, Atuqtuarvik Corporation is an investment company providing loans and equity investments between $100,000 and $3,000,000 to Inuit-owned businesses.
Visit www.atuqtuarvik.com for more information.
Kakivak Association is a community and economic development organization serving Inuit in the Qikiqtani region. Kakivak provides grants and loans to eligible Inuit businesses for pre-start up, start up and expansion activities in all sectors.
Visit www.kakivak.ca for more information.
Kivalliq Partners in Development
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.
Email email@example.com for more information.
Indigenous Tourism Association of Canada (ITAC)
ITAC Tourism Development Funding Support Program
ITAC invites Canadian Aboriginal tourism businesses to apply for support funding for tourism product development investments designed to improve their market-ready and export-ready status. This program is intended to assist Aboriginal tourism businesses from as many of Canada’s 13 provinces and territories as possible. The funding amount for any one applicant is a maximum of $10,000.