Who is Northern
Enterprise Fund Inc?
NEFI is a corporation that was established in 1988 to support
business and education in northern Saskatchewan.
Who is eligible for assistance through NEFI?
Any individual or northern business residing within the Northern
Enterprise Fund Region may apply. Please see Region
of Activity map.
What types of projects will be supported
by NEFI?
Generally, any commercially-viable project may be considered including:
- the acquisition of fixed assets;
- refinancing of existing borrowings;
- the purchase of an existing business;
- establishing a new business
What kind of financial assistance does NEFI
offer to northerners?
NEFI offers developmental, real estate and commercial loans.
What criteria are used in assessing an application?
Applications are assessed on the following bases:
- Project viability
- Debt serviceability
- Management ability and related experience
- Credit history
- Security
- Equity
How much equity are applicants required to
contribute?
Each applicant is required to invest at least 10% of their own
equity in the project.
How often do the Board of Directors meet
and when is the deadline for applications?
The Board of Directors usually meet the first Tuesday of each
month. Applications should arrive at NEFI's office by the 15th
of the month for consideration at the next meeting.
What information should be submitted with
application?
In all cases, a completed application form and a comprehensive
business plan are required.
Where should I go to get help with the business
plan?
NEFI does not provide business plan consulting services, but can
offer a referral to a number of consultants in this field.
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