More help on the way from the territorial government as the GNWT announces they have opened a second intake of applications for low interest loans to support NWT businesses through the current COVID-19 pandemic.
Applications will be accepted and reviewed on an ongoing first-come-first-served basis.
Working Capital Loans of up to $25,000 (or more if need is clearly addressed) are available from the GNWT, through the NWT Business Development and Investment Corporation (BDIC).
Non-resident businesses that can demonstrate that they employ NWT residents and support local businesses are also eligible to apply.
The first intake saw 61 loans approved totalling $1.5 million.
As well as support for 56 NWT businesses from the Loan Payment Deferment/Reduction initiative.
It is estimated that Loan Payment/Deferment has saved an estimated $269,000 per month for businesses.
This follows the GNWT’s previously committed $21.5 million in COVID-19 economic relief initiatives.
