NWT Metis-Dene Development Fund Ltd.

About the NWT MDDF

The Metis Dene Development Fund is a cooperative effort between the NWT Metis Development Corporation and the Denendeh Development Corporation.

. PURPOSE

Provide direct loans to eligible applicants for capital, operating or interim financing for business purposes.

Provide specific guarantees to support applications of eligible applicants for loans from conventional financial institutions for business purposes.



2. TERMS

Interest rates are variable and dependent upon an assessment of the risk associated with the project, term of the loan and loan size.

Fees will consist of a minimum application fee of $100.00 for Loans up to $5,000.00 and $250.00 for Loans up to $25,000 and thereafter a 1% fee of the amount borrowed up to the loan maximum of $250,000.

Loans may be amortized up to 25 years with a maximum term of 5 years.

Maximum Loan to any one borrower or group or related borrowers $250,000.00.

Minimum equity in project will be 10%. Ie. CASH, VALUE OF LAND, EQUIPMENT.

3. ELIGIBLE APPLICANTS

Eligible applicants must be of Metis or Dene origin and are members of the Metis locals or Dene Bands of the Northwest Territories and are resident in the Northwest Territories. In addition, must be of legal age of majority.

In the case of an organization or corporation, it must be owned or 51% controlled by persons of Metis or Dene origin and are members of the Metis locals or Dene bands of the Northwest Territories and are resident in the Northwest Territories. It must have its registered office in the Northwest Territories. In order to submit an application for consideration, please include the following information: Completed MDDF Application form and a complete business plan (we provide outlines).

APPLICATION FOR MDDF FUNDING

In order to submit an application for consideration, please include the following information:

Completed MDDF Funding Application Form
Completed Business Plan Form

If you would like to request more detailed information about applying to the NWT MDDF, please click here and fill in a request form or contact us at our address. We can provide you with the necessary application forms.