Applications are officially open for small businesses in the NWT to receive $5,000 to help relieve some of the financial pressure caused by the evacuations.
This money is being provided through the Support for Entrepreneurs and Economic Development (SEED) Policy, which provides programs and services that promote and support NWT economic prosperity and community self-reliance. The SEED policy’s goal is to increase business activity and employment through financial support.
The $5,000 will be available until March 31st, 2024, or until all of the money made available through the SEED policy runs out. The money will be given out on a first come, first serve basis.
Some of the conditions that will make a business eligible for this assistance include;
- Insurance deductibles and payments
- Commercial rents and similar financing charges
- Interest on mortgages and loans
- Utilities, and
- Other similar costs which are deemed reasonable, which will be determined by the Department of Industry, Tourism, and Investment.
In order to apply for the money, business owners must fill out the application form, submit a copy of a valid business license, be in compliance with corporate registries, and provide official evidence of any costs incurred during the evacuation. Finally, they must submit the completed application form to their regional office.
The application form can be found by clicking here.
