- Aboriginal heritage (First Nations, Metis, and Inuit)
- 18 years of age and older
- Reside in Northern Ontario
- Establsihing a business in Northern Ontario
- Aboriginal owned or majority-owned (minimum 51%)
- Established and operating in Northern Ontario
Microloans range from $1,000 to $7,500 and are offered at a flat interest rate of 8%.
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:
- Completed Loan Application
- Confirmation of 10% equity contribution
- Micro Loan Business Plan outline
- Master Business License
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.