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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 generally be used for

    • Soft costs such as Business or Marketing Plan or Feasibility Study
    • Start-up expenses individually owned businesses
    • Market Development & Promotion
    • Business acquisition
    • Business expansion
  • Approval decision based on need, assessed by considering
    •  Equity(down payment) 10% to 30%(determined by age, net worth and project type) of project total cost
    • Ability to obtain financing to complete project

 

Contribution Examples

Eligible Costs

  • Professional Business, Marketing & Feasibility plans(3 independent quotes usually required if over $25,000)
  • Leasehold improvements, lot development
  • Capital Costs
  • Marketing Costs such as
    • Promo Materials
    • Trade show Fees & Expenses
    • Conference Fees
    • Website
    • Advertising

Not Eligible Costs

  • Bars
  • Pawnshops
  • Payday loan businesses
  • Gambling businesses
  • Tobacco or drug retailers & manufacturers
  • Sexually exploitive businesses
  • Passive businesses(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 other financing/funding, paid expenditures, ethnicity, etc.  A legal agreement must be entered into such that the contribution may become repayable to MDDF/CanNor upon default.