Renseignements à l’intention des entreprises du Nunavut

Canadian banks across the country, and particularly in Nunavut, generally shy away from providing lending services for start-ups or companies without a solid history of successful operation. This underscores the ongoing need for alternative financing institutions in Nunavut such as NBCC and its strategic partners.

NBCC lends money within the following parameters:

  • Maximum level of support to any one enterprise or to a group of related enterprises is $1 million;
  • Maximum term for credit facilities is five years and amortization is generally 25 years.
  • Competitive interest rates.

The types of projects that NBCC considers from small and medium sized businesses include:

  • Purchase of fixed assets;
  • Leasehold improvements;
  • Consolidation of debt;
  • Bid bond security for contractors;
  • Providing working capital for inventory acquisition; and
  • Interim or bridge financing.

All business sectors in Nunavut are supported by NBCC. At any given time, NBCC has from 50 to 70 loans with Nunavut businesses, and a total portfolio of $16 to $18 million.