NEDC offers several loan programs, each with their own rules. ** Some programs can be combined with other programs (as long as it fits the other programs criteria.) Below are details on some of the funds available.
NEDC’s Business Development Officers (BDO) have expertise in developing the best funding package for you. Contact them today to discuss your business financing needs (1.866.444.6332 or in Port Alberni 250.724.3131).
Only one loan application required to access all loans: NEDC Loan Application
NEDC Loan Fund
NEDC has general loan funds available with flexible terms, interest rates, repayment options, and requirements.
Other funds available:
Several other loan funds are available, each with their own requirements:
- Entrepreneurs with Disabilities Loan Fund
- Forestry Loan Fund
- Fishing Loan Fund
- Youth Loan Fund
Contact a Business Development Officer at NEDC to discuss your project today. CONTACT US (Click Here)
Loan Eligibility
To be eligible for a loan through NEDC you must either be:
- A Nuu-chah-nulth tribe*, OR
- A member of a Nuu-chah-nulth tribe within reasonable monitoring distance, OR
- An Aboriginal person (status, non-status, Metis or Inuit/Innui) who reside and operate or propose to operate their business on Vancouver Island.
All applicants must be 19 years or older
*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
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- Contact the NEDC, and discuss your business idea with a Business Development Officer
- Complete the appropriate application forms
NEDC will conduct a credit check
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- Complete and submit a business plan
NEDC will conduct an in-house analysis
The business plan is analyzed and a summary and recommendation are submitted to the delegated approval authority. If the business plan is approved, you will receive a “Letter of Offer” from NEDC.