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Nunavut Business Credit Corporation
1
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To support and promote economic
development and increase employment
within Nunavut communities
•
To work towards the reduction of poverty
in Nunavut by supporting business
development
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NBCC supports Nunavut’s businesses
through:
Financial Services
 Credit facilities
 Business development advisory services
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NBCC’s approach is to help Nunavut residents and
communities by:
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Supporting emerging entrepreneurs with the
establishment of new businesses.
Supporting expansion of existing businesses.
Collaboration with funding agencies and business
support organizations such as Atuqtuarvik Corporation;
Community Futures organizations; Regional Inuit
funding agencies and Federal programs.
Collaboration with Nunavut based commercial banks.
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Provide much-needed financial services
that are unavailable through traditional
banking channels in communities:
 Loans
up to $1million
 Lines of credit up to $1 million
 Contract security
 Standby letters of credit
 Bid security
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It is imperative that all NBCC advisory and
financial services are available to
businesses and emerging entrepreneurs in
all communities.
We work with the community economic
development officers and other hamlet
officials to assist with organizing our
community outreach.
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Through collaboration with the Department of Economic
Development Regional Offices and logistical support
from Community Economic Development officers NBCC
conducted the following:

Advertising in communities at key venues such as retail
stores and community services offices about NBCC
services and notice about NBCC’s visit to the community.
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Community radio announcements about NBCC services
and visit/meeting times.
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Community visits ranged from 1 night to two night stays
depending on travel schedule logistics.
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General public information sessions were held with the
support of Community Economic Development Officers
to provide an overview of NBCC services.
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One on one meetings were held with interested
businesses or emerging entrepreneurs following the
public information sessions.
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Participated in NEDA’s webinar CEDO
training program.
In May, NBCC participated in the Kivalliq
Community Economic Developers
Conference that was organized by EDT’s
Kivalliq Community Operations offices.
Presenting at the upcoming NEDA
conference in November.
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Upgrade Website to include interactive
business planning and calculation tools.
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Continuing to work on up grading and
improving online interactive access to
NBCC financial services in all
communities.

Funding received from EDT.
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Debt financing analysis and due
diligence review training is scheduled for
November 2014
Confirmed participants include:
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Staff from all three community future orgs
Atuqtuarvik Corporation
Kakivak
Funding was received from GN.
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Communications - 2 Loans
Construction – 1 LOC – 8 Loans
Finance - 1 Loan
Fishery - 1 Loan
Real Estate -1 LOC - 3 Loans
Hospitality – 1 LOC – 4 Loans
Retail - 2 LOC - 6 Loans
Service - 3 LOC - 9 Loans
Transportation – 1 LOC – 2 Loans
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Qikiqtaaluk
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Cape Dorset
Clyde River
Iqaluit
Qikitarjuaq
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2
21
1
Total : 28
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Kivalliq
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Arviat
Coral Harbour
Rankin Inlet
2
4
6
Total 12
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Kitikmeot
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Cambridge Bay
Gjoa Haven
Kugluktuk
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2
1
Total : 8
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Youth Clients
Total of 5
2
Services
 Hospitality
 Multi Media
 Transportation
Youth Clients in all three regions .
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-
Finnancial Management
 Understanding Debt Management
 Implementation of long term sustainble
and profitable business plans
 Managing Canada Revenue Agency
Obligations and Benefits
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NBCC conducts in house analysis of viable
downstream business opportunities stemming
from mineral & marine resource development
and infrastructure development.
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Emerging sectors such as scientific research.
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Supporting niche markets such as tourism, arts
and culture.
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Supporting Nunavut Business investment
in developing and establishing
partnerships and joint ventures.
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Facilitating expertise, technology and
investment transfer to Nunavut
businesses .
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1.
Sole proprietorship or incorporated
start up;
2.
Expansion of existing business;
3.
Formation of partnerships or joint
ventures .
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Consolidation of debt;
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Bid bond security for contractors; to
facilitate applicants to be competitive
during the tendering process;
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Working capital for inventory
acquisition; such as sea lift purchases;
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Interim or bridge financing;
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Purchase of fixed assets, such as
buildings, real estate and furniture that
belong to the company;
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Leasehold improvements; renovations
and expansion.
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Maximum term for credit facilities is five
years.
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Amortization ranges in years, depending
on the type of security being pledged, to
a maximum of 25 years.
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
There are two mandatory requirements in
applying for a loan from NBCC:
1.
Your business must maintain an office
in Nunavut.
 It does not have to be the company’s head
office, but you must have people working in
Nunavut in your business as a fundamental
requirement.
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2.
You must be prepared to provide
security on your loan.
Security is a requirement for all financing
consisting of a combination of:
 mortgage on real property;
 pledge on personal property;
 personal/general guarantee from the
principals of your enterprise;
 assignment of revenues/contracts.
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On going work to improve NBCC
Legislation and Policies to ensure
relevance and consistency with current
and projected economic circumstances in
Nunavut .
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The Honourable George Kuksuk is the
Minister Responsible for the Nunavut
Business Credit Corporation.
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Chairperson: Greg Cayen - Iqaluit
Vice Chairperson: Nancy KaretakLindell - Arviat
Marg Epp – Cambridge Bay
Donald Havioyak - Kugluktuk
Elijah Evaluarjuk – Igloolik
Tommy Owlijoot - Arviat
Allan Lahure - Baker Lake
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The BOD takes a hands on approach to
ensure
that NBCC is able to effectively support
Nunavut businesses and maintain the
highest standard of accountability
Through three commitees
•
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The BOD has three pro active committees
that were established to ensure:
Policy & Planning Committee
 Effective policy & business planning
Finance & Audit Committee
 Accurate financial reporting and auditing
Credit Facility Committee
 Accountable Credit Facility management