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Types
of loans available:
- commercial loans for business start-up,
expansion and/or acquisition
- forgivable (non-repayable) loans - limited
eligibility
- contributions for feasibility studies
and business plans
Loan
structures
- commercial financing only
- equity requirement with each loan
- standard interest rate of 12%
- the maximum loan size for individuals
is $475,000 - no minimum
- the maximum loan size for tribes is $500,000
- no minimum
Loan
Eligibility
- all applicants are subject to a credit
check
- all applicants must be 19 years or older
(please see youth entrepreneurship for the exception)
- Nuu-chah-nulth tribes and their members
(please see below)
- persons of Aboriginal ancestry, including
status, non-status, Metis and Inuit who reside and operate
or propose to operate their business in the Nuu-chah-nulth
territory. (documentation is required)
For the sole purpose of NEDC, the term "Nuu-chah-nulth"
refers to those Nuu-chah-nulth Tribes that are members of
the Nuu-chah-nulth Tribal Council.
Application
Process
- contact your nearest NEDC office
- discuss your business ideas with a Business
Development Officer
- complete the appropriate client application
form
- submit a completed business plan for
in-house analysis
Microsoft Office© versions of of the NEDC Business Plan, Cash flow projections, and Loan Application:
BUSINESS PLAN WORKBOOK online version
Monthly Cash Flow
NEDC Application
Once reviewed and accepted the business plan
is submitted to the delegated approval.
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