Kivalliq Business Development Centre
Businesses in the Kivalliq region can borrow up to $150,000 from KBDC. This is a loan you must repay with interest.
“Loans up to $150,000”
From the official program page
Before you spend any money
The official page does not list interest rates or repayment terms. Ask the centre before you commit.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Is this for you?
- You operate in one of the seven Kivalliq communities, including Baker Lake, Coral Harbour, Chesterfield Inlet, Rankin Inlet, Whale Cove, Arviat, or Naujaat.
- You have been turned down by a bank or credit union, or you simply cannot meet their strict lending requirements.
- You need funds for start-up costs, inventory, equipment, or a working line of credit.
Probably not the right fit if
- You are located outside the seven specific Kivalliq communities listed above.
- You are looking for a grant or free money, since this is a loan that must be repaid with interest.
- You can easily secure a standard commercial loan from a major bank or credit union without difficulty.
How much you'd realistically get
Up to $150,000 per loan.
What may be supported
- Start-up costs for new businesses.
- Inventory purchases for retail or food service.
- Equipment or capital improvements.
- Working capital via line of credit.
- Bid bonds for contractors.
How applying works
Effort: moderateYou must download and complete the application forms and submit them to KBDC. Be prepared to discuss how your business benefits the community.
- 01Confirm your business is located in one of the seven Kivalliq communities.
- 02Download the Online Business Loan Application from the KBDC website.
- 03Prepare your business details, including how your project benefits the community.
- 04Submit the completed application to KBDC.
- 05Follow up with KBDC at (867) 645-4580 if you do not hear back within a reasonable time.
Who to ask: Phone: (867) 645-4580
Documents commonly required
- Completed Online Business Loan Application form.
- Business plan or project description.
- Financial statements or projections (if available).
- Proof of location in the Kivalliq region.
What to know before you count on it
- This is a repayable loan, not a grant; you must pay back the principal plus interest.
- Approval looks at social and community benefits as well as profit, so be ready to explain how your business helps your community.
- The official page does not say when the loan money is paid out. Ask KBDC at (867) 645-4580 before you plan your spending.
What are your odds?
Approval depends on your ability to repay and the social benefit to the community; there is no guarantee of funding.
Frequently asked questions
Is this money free?
No. This is a loan that must be repaid with interest.
Who can apply?
Businesses located in the seven Kivalliq communities of Nunavut that may not qualify for traditional bank loans.
What can I use the loan for?
Start-up funds, inventory, capital equipment, lines of credit, or bid bonds.
How do I apply?
Download the application form from the KBDC website and submit it to them. You can also call (867) 645-4580 for assistance.
What you can combine it with
You may be able to combine this with other regional grants, but confirm with KBDC as loan terms vary.
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Page last updated ; status and deadline checked . Source: official program page.