BDIC Term Loans

Overview of the BDIC Term Loans program:

The Business Development and Investment Corporation (BDIC) offers Term Loans designed to help businesses in the Northwest Territories (NWT) access the funding they need to start, expand, or stabilize their operations. This program provides flexible financing options that can support a wide range of business activities, making it easier for entrepreneurs to achieve their goals.

Benefits of the BDIC Term Loans program:

• The BDIC Term Loans program provides significant financial support to businesses in the NWT. Key benefits include:
• Flexible Financing: Loans of up to $2 million are available, with flexible terms tailored to the needs of the business. This can be used for various purposes, including purchasing equipment, expanding operations, or managing cash flow.
• Support for Growth: The program is designed to help businesses grow, expand into new markets, or stabilize during challenging times.
• Competitive Interest Rates: Businesses benefit from competitive interest rates, making it more affordable to borrow the funds they need.

Eligibility criteria of the BDIC Term Loans program:

• To be eligible for a BDIC Term Loan, applicants must meet the following criteria:
• Location: The business must be located in the Northwest Territories.
• Business Type: The program is open to a variety of business types, including startups, existing businesses, and those looking to expand or stabilize their operations.
• Viability: The business must demonstrate financial viability and have a solid business plan.