Kitikmeot Community Futures Incorporation (KCFI) Keewatin Business Development Centre (KBDC) Baffin Business Development Corporation (BBDC)

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2 Kitikmeot Community Futures Incorporation (KCFI) Keewatin Business Development Centre (KBDC) Baffin Business Development Corporation (BBDC)

3 Business loans Business counseling, help and providing information Training Referral to other lending or business support agencies Self Employment Option counseling and referral

4 All three CFs provide loans to viable businesses in Nunavut of up to $150,000. BBDC and KCFI may lend up to $250,000 in some cases. Interest rates are standardized between the CF s and reflect higher risk lending. Administration fees.

5 Loans include term loans (anywhere from 1 year to 15), guarantees and lines of credit Higher risk/developmental loans are our mandate Evaluation of loan requests considers all lending criteria (capacity, collateral, character, cash flow, credit, community benefits)

6 Loans to the tourism sector have always been provided but the uptake is not a significant portion of our loans. All three CF s would like to work closely with the tourism industry and improve access to debt financing.

7 Capital buildings such as accommodations, restaurants, take-out s, other infrastructure (such as garages/storage) Capital purchases such as boats, tour vehicles, dog teams, kayaks, atv s, communication devices Inventory purchases such as arts and crafts and safety gear Working capital/cash flow

8 We can offer seasonal loan payment plans to match business cash flow We work closely with agencies that can offer contributions (grants) to round out financing a project- both large and small We can work with you throughout all stages of start-up or expansion, wind-down/sale.

9 Contact the CF in your region. We will work with you to develop a financing package that works for your business. Once you and CF staff are happy with the project, it is recommended to a review Board for decision. Turn around time from complete application to decision aimed at 10 business days.

10 Clients of the CF s are not only loan clients. The centers provide business counseling in a variety of areas such as business start-up, expansion, bookkeeping advice, regulatory agency advice (Labour Standards, CRA, WSCC etc ), business wind down, marketing, referrals to other programs, etc.

11 In some CFs, training is offered on a variety of topics- either provided by staff or as a support project that is funded from partnering organizations.

12 Many CFs in Canada have a library of information and resources for client use. The most typical arrangement is with the Canada Business Service Centre. There is also a computer with internet for clients to use. In Iqaluit and Cambridge Bay the CNBSC is co-located with BBDC and KCFI

13 Partnerships are very important to our organizations and we rely heavily on the exchange of information, programs and capacity of our partner organizations to improve client service

14 EDO s/municipalities Kakivak Association, Partners in Dev, KIA Nunavut CEDO, Nunavut Tourism, NACA Regional and HQ offices of EDT NBCC, AC, AANDC, CanNor, BDC

15 Kitikmeot Community Futures Incorporation Marg Epp, Executive Director P.O. Box 1331 Cambridge Bay, Nunavut, X0B 0C0 Phone Fax

16 Keewatin Business Development Centre (KBDC) P.O. Box 328 X0G 0G0 Rankin Inlet, Nunavut, Phone Fax

17 Baffin Business Development Corporation (BBDC) Valerie Kosmenko, General Manager P.O. Box 1480 Iqaluit, Nunavut X0A 0h0 Phone Toll free Fax

18 Call and talk to us first. It is quiet possible that your initial thinking on the loan amount or project amount might change. Be prepared to talk openly and honestly about your business, skills, situation, request. All information is kept confidential. Trust is important.

19 You might be worried about credit (everyone is). Don t let this stop you from pursuing your idea. Have your financials statements and bookkeeping always up to date and in order. Very important. If this is a problem, please contact us or anyone that can help.

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