BBN Labs — Better Business Network

NADF Financing Solutions

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NADF offers business loans up to $500,000 (with exceptions up to $1,000,000) and microloans at 8.5% interest in Northern Ontario. This is repayable financing for Indigenous-owned enterprises, and you must put in 10-15% cash equity yourself.

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“At NADF, we work with you to simplify the application process on all of our financing solutions.”

From the official program page

At a glance

Maximum supportBusiness loans: up to $500,000, with exceptions up to $1,000,000, at 8.5% to 12% interest. Microloans: 8.5% interest, with a term of up to 36 months. NADF also offers a separate Business Financing Program grant of up to $99,999.
Issued byNishnawbe Aski Development Fund
Administered byNishnawbe Aski Development Fund (NADF): an Indigenous/Aboriginal Financial Institution serving Northern Ontario
RegionOntario

Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.

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Is this for you?

  • You are an Indigenous entrepreneur (First Nations, Metis, or Inuit) living in Northern Ontario.
  • You own at least 51% of an existing business or are launching a new venture in the region.
  • You can contribute the required cash equity, which is 10% if you are under 40 or 15% if you are 40 or older.

Probably not the right fit if

  • You are not of Indigenous heritage or do not reside in Northern Ontario.
  • You cannot provide the mandatory cash equity contribution of 10-15% of the loan amount.
  • You are looking for a grant or non-repayable funding, as this program offers loans with interest.

How much you'd realistically get

Microloans for startups or working capital; business loans up to $500,000 standard, with exceptions up to $1,000,000.

What may be supported

  • Starting a new project or launching a startup.
  • Acquiring an existing business.
  • Startup costs, working capital, or equipment for new or expanding ventures (microloans).

How applying works

Effort: moderateYou must contact NADF to assess eligibility and likely develop a business plan with their guidance before applying.

  1. 01Contact NADF by phone or email to assess your eligibility and discuss your project.
  2. 02Prepare your cash equity contribution (10-15% depending on age and loan type).
  3. 03Work with NADF's business planning guidance to develop your application materials.
  4. 04Submit your application for the loan or microloan.
  5. 05Await approval and disbursement of funds.

Who to ask: Phone: 807-623-5397 or 1-800-465-6821; Email: info@nadf.org; Hours: Monday-Friday, 9AM-5PM

Documents commonly required

  • Proof of Indigenous heritage and Northern Ontario residency.
  • Proof of business ownership (minimum 51% for existing businesses).
  • Evidence of cash equity contribution.
  • Business plan or project details (developed with NADF guidance).

What to know before you count on it

  • This is a loan, not a grant. You must repay the principal plus interest (8.5% to 12%) over the term.
  • You must contribute your own cash equity upfront (10% for ages 18-39, 15% for ages 40+).
  • The official page does not list the maximum microloan amount. Ask NADF before you apply.
  • The official page does not list repayment terms for the main business loan. Ask NADF before you apply.

What are your odds?

Approval depends on meeting the strict Indigenous ownership and Northern Ontario residency criteria, plus having the required cash equity.

Frequently asked questions

Do I have to be Indigenous to qualify?

Yes. You must be an individual over 18 of Indigenous heritage (First Nations, Metis, or Inuit) residing in Northern Ontario, or own at least 51% of an Indigenous business in Northern Ontario.

How much cash do I need to put in myself?

You need minimum 10% cash equity if you are aged 18-39, and minimum 15% cash equity if you are aged 40+. Microloans require 10% equity.

What is the interest rate?

Business loans range from 8.5% to 12%. Microloans are at 8.5%.

Is there a deadline to apply?

The official page does not list a deadline, and the loans appear to be available all year. Contact NADF to start the process.

What you can combine it with

NADF also offers a separate Business Financing Program grant of up to $99,999; check if you qualify for both.

Worth reading before you apply

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Page last updated ; status and deadline checked . Source: official program page.