Makigiaqvik Loans

Overview of the Makigiaqvik Loans program:

Makigiaqvik Loans are available to eligible Inuit owned businesses that require financing to establish or expand their business. Our Business Development Officers will work with you to find the best financing available for your business development project, including a combination of grant contributions and a Makigiaqvik Loan.

Benefits of the Makigiaqvik Loans program:

• Successful applicants may receive a secured loan of up to $50,000. The interest is at a fixed rate of 8.5%. The repayment term may be up to 7 years.
• Our current priorities include:
• Building stronger linkages with Communities
• Providing an increased level of services in the Community
• Enhancing organizational partnerships
• Improving Program Delivery
• Assessing Program Impacts

Eligibility criteria of the Makigiaqvik Loans program:

• The individual applying is Inuk and has lived in Baffin Region for 6 months or more.
• The partnership applying is at least 51% Inuit owned and controlled.
• The corporation applying is at least 51% Inuit owned and controlled.
• The corporation applying is an Inuit firm certified by Nunavut Tunngavik Inc. for inclusion on the Inuit Firm
• Registry under Article 24 of the Nunavut Land Claims Agreement and has its principle place of business in
• Nunavut,