Frequently Asked Quastions (FAQ)

I want to start or expand a business.  What do I need?

 

To establish or expand your business you will need to demonstrate relevant experience, access to equity, ability to repay, and most importantly, the viability of your business idea.  

 

When should I contact NADF?

Ideally, we would like you to contact us as soon as possible after you've made the decision to proceed with your business idea.  Our knowledgable and experienced business support staff are available to assist you in your business plan research, completing financial projections,  They are also available to assist you in completing our financing applications.

What is a business plan?

A business plan is a written document that demonstrates the viability of your business idea to lenders and investors.  A typical business plan will include details of the product or service, a marketing plan, management, operations, ownership, and financial projections.

 

You may be eligible to receive a contribution from Aboriginal Business Contribution Program to develop your business plan.

 

Template: Business Plan

 

How much money do I need to invest in my business?

 

That will depend on your age, amount of your financing request, and the results of our risk assessment.  At the very least, you can expect to invest the minimum equity requirement, which is:

 

Youth (18-35 years) 10%

Regular (35+ years) 15%

 

I have completed my business plan.  What are the next steps?

 

Contact one of our our Business Support team members prior to completing your application to determine eligibility. If you require assistance in completing the Financing Application, they will guide you through this step as well.

 

When completed, submit your completed application, including applicable application fees, and all supporting documents.  A timely assessment of your financing request is dependent on us having all the information needed to assess your business idea.

 

What is a Financing Application?

 

A Financing application is a form/document that tells us about your business idea and its estimated projected costs. The application also helps us get to know you (the client) and assess your eligibility for funding. If you're looking for any type of financing from NADF, a completed SOI application is your starting point.

 

How do I obtain a Financing Application?

 

It is available electronically for download here or can be mailed/faxed to you at your request. To request an application call 1-800-465-6821.

 

Ok, I’ve filled out my application and mailed it to NADF. What happens next?

 

Your application will be processed by our staff here at NADF. This usually takes 2-3 business days, after which we will contact you to either:

 

• Make revisions to your form (if it wasn't filled properly), or

• Request your business plan for review (to proceed with financing)

For quicker processing, it helps to have your business plan prepared before you hand in your application.  

 

If you have additional questions about our products and services, call 1-800-465-6821 to speak with one of our Business Support team members.