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EBD Guidelines

NWT Metis-Dene Development Fund (MDDF) is the service delivery agent for the Entrepreneurship and Business Development fund. The following is a summary of important information you should review before applying.

Eligible businesses

  • NWT business with at least 51% aboriginal(proof required) ownership, including home based and community owned corporations
  • Aboriginal shareholder(s) must be actively involved in and have controlling influence over the business
  • Contribution assistance must be used for either
    • Business or Marketing Plan or Feasibility Study, (up to 75% to a maximum of $75,000, commercial financing not required)
    • Start-up expenses individually owned businesses, max $99,999; community owned corporations max $249,999
    • Market Expansion individually owned businesses, max $99,999; community owned corporations max $249,999
    • Business acquisition individually owned businesses, max $99,999; community owned corporations max $249,999
  • Commercial financing approved of at least 50% of eligible costs(youth 40%), except for developing Business, Marketing & Feasibility plans 75%
  • Minimum Equity(down payment) required
    • Youth, between 10% and 30%, determined by purpose and need
    • Others, between 15% and 30%, determined by purpose and need

 

Contribution Examples

Eligible Costs

  • Professional Business, Marketing & Feasibility plans
  • Leasehold improvements
  • Capital Costs
  • Marketing Costs
    • Promo Materials
    • Trade show Fees
    • Conference Fees
    • Business Cards
    • Website
    • Brochures
    • Advertising
    • Signage
    • Booth Expenses
    • Freight & Airfare

Not Eligible Costs

  • Bars
  • Pawnshops
  • Payday loans
  • Gambling
  • Tobacco or drug retailers & manufacturers
  • Sexually exploitive businesses
  • Passive(e.g. rental real estate)
  • Equipment maintenance
  • Market disruptive businesses
  • Existing staff salaries
  • Community owned corporations with a net worth over $10 million
  • Publishing businesses
  • Meals, entertainment
  • Individually owned businesses with a net worth over $1 million

Contribution agreement

Approved applicants will be required to provide documented proof of commercial financing, paid expenditures, ethnicity, etc.  A legal agreement must be entered into such that the contribution may become repayable to MDDF/CanNor upon default.