IBSP - ELP Loan Application


emergency loan application process

Guidelines: Business Application to KBDC

Program Overview

In response to the COVID-19 crisis, Kivalliq Business Development Centre (KBDC), through assistance provided by the Government of Canada, is taking action to ensure that Indigenous business owners impacted by Covid-19 have access to the support they require. The emergency loan program is a component of the Indigenous Business Stabilization program.

The Emergency Loan Program (ELP) is designed as an emergency measure to support small business owners in meeting their immediate operating cash flow needs.  These funds are not intended to replace or duplicate government or other bank/lender emergency financing/funds that are available to businesses in Canada

Maximum assistance is $40,000 comprised of a 75% loan and 25% non-repayable contribution. Loan and contribution are issued together.

Loans are:

  • up to 48 months term;
  • interest free ;
  • no payments in first 12 months;
  • loan payments begin in month 13th and are fully amortized over the remainder of the term;
  • principle repayments can be made voluntarily at any time after six months of issuance, without fees or penalties.

Eligible costs for this loan can include: 

Indigenous owned businesses negatively impacted by COVID-19 can apply for this funding to support their immediate working capital and operational needs. Eligible expenses could include:

  • non-deferrable operating expenses including , without limitation, payroll ,rent, utilities ,insurance, property taxes and regularly scheduled debt service; and 
  • emergency measures such as health and safety improvements, workplace sanitizing, and procedures to secure the safety of employees and prepare for business opening.

Funds may not be used to fund any payments or expenses such as prepayment /refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.


Please attach the following to your Emergency Business Loan application: 

  1.   A completed Application for the Emergency Business Loan; 
  2.   A copy of your 2019 Financial Statements;
  3.   A detailed cashflow projection for the period March 15 2020 to March 31, 2021;
  4.   Copies of new or existing service contracts, if any; optional (KBDC to determine whether this is a requirement)
  5.   Clear copies of your Identification: Driver’s License and confirmation of Indigenous heritage (i.e. Certificate of Indian Status). 

Dorothy Gibbons, Executive Director

Please email fully completed application with attachments to: dgibbons@kbdc.ca or you can use the form down below for submission.

If you have any questions about the loan requirements, please email your questions and phone number to: dgibbons@kbdc.ca


  • Drop files here or
    Max. file size: 256 MB.

    Submit your application using the tool above, or email it to dgibbons@kbdc.ca