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Application and Funding Information

Atuqtuarvik Corporation is a 100% Inuit owned investment company that was created by Nunavut Tunngavik Incorporated (NTI) and Nunavut Trust to help ensure direct Inuit participation in major economic opportunities.


  1. Purpose of Financing
  2. Limits to Financing
  3. Terms and Rates
  4. Evaluation Criteria
  5. Documentation
  6. Evaluation Process

1. Purpose of Financing

Atuqtuarvik Corporation provides loans and equity investments to Inuit-owned businesses between the range of $150,000 and $3,000,000. For the purposes of business start-up, expansion, and acquisition. Eligible projects must be commercially viable, Nunavut-based and create benefits for Inuit in the areas of jobs, training, and social improvements.

2. Limits to Financing

The general guidelines used when assessing loan amounts are:

  • Applicants must be capable of providing their own equity; and
  • Loan and equity investment amounts are based on the percentage of Inuit ownership.

3. Terms and Rates

Rates charged are based on the bank prime and overall project risks.

Loans are for terms for 1 to 5 years. Amortization is up to 25 years

4. Evaluation Criteria

Four criteria form the basis upon which individual applications for financing are evaluated. They are:

  • The financial viability of the project;
  • The percentage of Inuit ownership and participation in management;
  • The benefits of the project to the Inuit of Nunavut. Benefits examples are: jobs; ownership; housing; language and culture; and,
  •  Financial resources from other sources (e.g., banks, Territorial & Federal Government programs)

5. Documentation

If you are interested in pursuing an application with Atuqtuarvik Corporation, we would require several items accompanying your signed application to complete our due diligence process:

  • Verification of Inuit Firm Status; Resumes for key individuals;
  • Ownership and management structure;
  • Depending on the nature of the project i.e. if shares or assets are being purchased, a valuation and/or appraisals would be required;
  • Administrative items such as business licenses, proof of insurance and WSCC coverage, prof of enrollment under the Nunavut Agreement;
  • Description of proposed business activity;
  • Investment requested from Atuqtuarvik Corporation;
  • Analysis of market and clientele served or to be served by the business;
  • Financial projections and history;
  • Details of proposed financing from all sources;
  • Detailed strategic and project implementation plans;
  • Letters of intent or documents indicating regulatory approvals required;
  • Identification of anticipated benefits of the project to the Inuit of Nunavut;
  • Any applicable environmental assessments completed; and,
  • Completed Personal Net Worth Statement.

The applicant must provide Atuqtuarvik Corporation with written authorization to verify information provided in the application through direct contact with the applicant’s bankers, accountants, creditors, employers, credit bureaus, etc.

Atuqtuarvik Corporation will need authorization on your CRA account. You can find this information at the CRA website All applications are subject to an administrative fee which is required prior to us completing our due diligence process. For more information: on Atuqtuarvik Corporation please visit our website at or reach us by phone at 867-645-5900 or Toll-free at 888-645-5901 or via email at

6. Evaluation Process

Upon receipt of a completed application package, and all supporting documentation, the Credit Department will complete the necessary due diligence process in order to make a recommendation to the Board of Directors. Once the Board of Directors make a decision on the application, the applicant will be advised of the outcome.