Microloans

If you are a Aboriginal entrepreneur seeking to establish or expand a small business in Northern Ontario, you may qualify for a microloan from NADF (Nishnawbe Aski Development Fund).

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Eligibility

Individuals:

  • Aboriginal heritage (First Nations, Metis, and Inuit)
  • 18 years of age and older
  • Reside in Northern Ontario
  • Establishing a business in Northern Ontario

Existing Business:

  • Wholly-owned or majority-owned (minimum 51%) Aboriginal business
  • Business based in Northern Ontario

 

Microloan Limits & Interest Rates

Microloans range from $1,000 to $7,500 and are offered at a flat interest rate of 8%.

 

Application Process

We recommend that you speak with a Business Support Officer prior to submitting your Microloan application. 

To apply for a Microloan from NADF, we require:

 

Benefits

A microloan may help individuals who do not have a credit history or have a poor credit rating to improve their credit scores.  NADF submits monthly reports to the credit bureaus, so this is an opportunity to start/expand business and at the same time fix your credit rating.

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