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
- 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. See "About Us" page for more information on the Nuu-chah-nulth Territory.
Application Process
- Contact the NEDC office
- Discuss your business ideas with a Business Service Officer or 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.
