COVID-19 Financing

Support for Businesses in Northern Ontario

NADF is currently administering three (3) COVID-19 emergency loan funds to support Aboriginal businesses in Northern Ontario who have been impacted by COVID-19.  

These funds are not intended to replace or duplicate government or other bank/lender emergency programs that are available to businesses in Canada.

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NADF COVID-19 Emergency Loan Fund (ELF)

A $250,000 emergency loan fund established by NADF to provide up to $25,000 in support to eligible Aboriginal businesses operating on or off-reserve in NADF's catchment area and who have been impacted by the COVID-19 pandemic.

NADF's catchment area is Northern Ontario, which NADF defines as the territories of Treaty 9, Treaty 5 (Ontario portion), Treaty 3, and Robinson-Superior 1850.

Although the focus of ELF is on existing and former clients of NADF, all wholly-owned and/or majority-owned Aboriginal businesses are eligible to apply.  Not-for-profit businesses and organizations are ineligible.

In addition to the above, ELF applicants must satisfy the following eligiblity criteria:

  • business must have been established prior to March 1, 2020;
  • business must have been impacted adversely due to the COVID-19 pandemic;
  • business was viable and not experiencing financial difficulties prior to March 1, 2020;
  • the applicant is in good standing with NADF; and
  • the applicant must have been able to obtain commercial financing at March 1, 2020.

The ELF program is intended to support eligible fixed operating costs incurred on or after March 15, 2020, retroactively. Eligible operating costs include rent, utilities, insurance, health and safety improvements due to COVID-19, etc.

How to Apply

If you are an existing or former NADF client, please contact your Account Manager by email or call 1-800-465-6821 or 807-623-5397.

If you are a new client, please email covid@nadf.org or call toll free 1-800-465-6821 or 807-623-5397 and an Account Manager will be assigned to work with you.

Other terms and conditions apply and your Account Manager will discuss these with you.

Questions?  Email covid@nadf.org

 

Indigenous Business Stabilization Program

Through assistance provided by the Government of Canada, the National Aboriginal Capital Corporation Association (NACCA) is taking action to ensure that Indigenous business owners impacted by COVID-19 have access to the support they require.  The Indigenous Business Stabilization Program (IBSP) is delivered across Canada through a network of Aboriginal Financial Institutions (AFI).

Operating as an AFI, NADF has partnered with the NACCA to deliver the IBSP to Indigenous businesses in Northern Ontario, which NADF defines as the territories of Treaty 9, Treaty 5 (Ontario portion), Treaty 3 and Robinson-Superior 1850. 

The IBSP is designed as an emergency measure to support small business owners in meeting their immediate operating cash flow needs. 

Eligible IBSP applicants may apply for up to $40,000, comprised of 75% loan and 25% non-repayable contribution to support eligible operating costs, such as rent, utilities, insurance, health and safety improvements due to COVID-19, etc.

In addition to the above, IBSP applicants must satisfy the following eligibilty criteria:

  • business must have been established prior to March 1, 2020;
  • business must have been impacted adversely due to the COVID-19 pandemic;
  • business was viable and not experiencing financial difficulties prior to March 1, 2020;
  • the applicant is in good standing with NADF; and
  • the applicant must have been able to obtain commercial financing at March 1, 2020.

 

Emergency Loan for Indigenous Owned Businesses

In partnership with the Ministry of Indigenous Affairs, NADF will be administering the "Emergency Loan for Indigenous Owned Businesses" to Aborignal businesses in Northern Ontario.  Eligible applicants may apply for up to $50,000 (50% non-repayable).

Out of the NADF catchment area?

Contact an Aboriginal Financial Institution near you.

How to Apply

If you are an existing or former NADF client, please contact your Account Manager by email or call 1-800-465-6821 or 807-623-5397.

If you are a new client, please email covid@nadf.org or call toll free 1-800-465-6821 or 807-623-5397 and an Account Manager will be assigned to work with you.

Other terms and conditions apply and your Account Manager will discuss these with you.

Questions?  Email covid@nadf.org

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