Financial Support for Businesses

Last modified: 
12/18/2020 - 10:53

Government of Canada Funding

The Government of Canada is providing Canadian businesses facing hardship with financial supports.

GNWT Funding

BDIC Working Capital Loans

NWT businesses can take advantage of getting loans of up to $25,000 (or more if need is clearly addressed) at a rate of 1.75%. Loans will be amortized for up to 5 years with options for payment deferment for 3 months upon request.

For more information, including how to apply, please see:

BDIC Deferred Loan Payments

Clients (borrowers) of the Business Development and Invest Corporation can apply to have their loan repayments reduced or deferred until March 31, 2021 without penalty or additional interest charges. Regular interest will still be charged.

For more information, including how to apply, please see:

NWT Wage Top-up Program

The GNWT has implemented the Wage Top-up program to provide temporary financial assistance to NWT workers aged 15 or over and earning less than $18 per hour.  Businesses can administer this program for their employees, and in return, the GNWT will cover the one-time administration fee of $50 per eligible employee. This program is available until February 28, 2021.

If your business wants to participate, please see:

Entrepreneur Support (SEED)

Small businesses and entrepreneurs can apply for up to $75,000 to help in positioning them to recover and grow once the COVID-19 pandemic subsides.

For eligibility information and how to apply, please see:

Financial Support for Artists, Art Organizations and Indigenous Cultural Organizations

The GNWT provides special funding to NWT artists, art organizations and Indigenous cultural organizations. For eligibility information and how to apply, please see:

Financial Support for the Agriculture Sector

The following funding support is available to the agriculture sector:

Land Lease Rent Relief 

Rent relief is available to all holders of existing commercial and mining surface dispositions on public land. Surface dispositions are usually leases, but there are a small number of other types of dispositions such as easements or licences of occupation, that are also eligible for relief. The rent relief applies to all dispositions in effect between April 1, 2020 and March 31, 2021. If you have already paid rent that was due during this period and your account is in good standing, your payment will automatically be refunded.

 For more information, please see: