Prosper NWT — Term Loans
Fuel your NWT business growth with term loans up to $5 million for projects or assets. This is a repayable loan with interest rates of prime plus 2% to 4% based on credit risk. Verified against the official source on July 2, 2026.
How we verify funding records →
“Fixed or variable interest rates are available and are quoted as prime plus 2%, 3% or 4%, depending on the credit risk involved.”
Before you spend a dollar
Approval must come before spending; do not incur costs until the loan is approved.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Not sure if you qualify?
Get a free, 2-minute read on whether this program fits your business. No obligation.
Check your fit →Is this for you?
- You run a business in the Northwest Territories and need capital for assets, expansion, or specific projects.
- You are seeking a larger loan between $2 million and $5 million for key sectors like housing, infrastructure, critical minerals, or emerging technologies.
- You can provide a solid business plan and financial statements or projections for evaluation.
Probably not the right fit if
- You operate outside the Northwest Territories.
- You need immediate cash flow for general operations without a specific project or asset purchase plan.
- You cannot provide the required financial documentation or business plan for evaluation.
How much you'd realistically get
Up to $5 million per business enterprise, with specific criteria for loans over $2 million.
What may be supported
- Purchase of business assets
- Business expansion
- Business projects
- Construction purposes (with specific insurance and permits)
What's excluded or restricted
- The source does not explicitly list ineligible costs or excluded activities for the general Business Loan program, other than implying that loans over $2M are restricted to specific key sectors.
How applying works
Effort: involvedYou must complete an online application or PDF form, provide personal financial statements for all owners, a business plan, and financial projections or statements.
- 01Complete the online application at the Prosper NWT portal or download the PDF form.
- 02Fill out the Personal Statement of Financial Affairs Form for each owner/shareholder.
- 03Prepare a Business Plan and financial projections or statements as required.
- 04Gather additional documents like appraisals, insurance, or permits if applicable.
- 05Email completed forms and supporting documents to applications@prospernwt.ca.
Who to ask: Email: applications@prospernwt.ca; Phone/Address: Contact your regional office of the Department of Industry, Tourism and Investment or Prosper NWT (see https://www.iti.gov.nt.ca/en/regional-offices); General Contact: https://prospernwt.ca/contact-us
Documents commonly required
- Completed Application for Financing form
- Personal Statement of Financial Affairs Form for each owner/shareholder
- Business Plan (required for businesses operating less than 2 years or undergoing major changes)
- Financial projections for 3 years or financial statements for the most recent 3 years
- Standard Environmental Checklist
How BBN Labs helps
- BBN builds your business website and e-commerce store with the loan funds, creating a digital storefront that captures new customers and drives sales.
- BBN designs signage and vehicle wraps for your expansion, coordinating qualified partners so your physical brand grows with your business.
- BBN sets up modern POS systems and automation workflows using the financing, streamlining daily operations and saving your team hours every week.
- BBN launches Local SEO and digital marketing campaigns with the loan proceeds, designed to help your expanded business capture more local customers and build trust.
- BBN guides you through the Prosper NWT application process and deadlines so you don't lose the funding.
What to know before you count on it
- Interest rates are fixed or variable, quoted as prime plus 2%, 3%, or 4% depending on credit risk.
- Loans between $2 million and $5 million require the business to be in key sectors such as housing, infrastructure, critical minerals, or emerging technologies.
- Applicable fees may apply, but the exact amount is not stated; confirm on the official page.
- Specific repayment term length is not stated; confirm on the official page.
What are your odds?
Approval depends on credit risk, sector eligibility for larger loans, and the strength of your business plan and financials.
Frequently asked questions
What is the interest rate for the loan?
Interest rates are fixed or variable, quoted as prime plus 2%, 3%, or 4% depending on credit risk.
Are there fees for the loan?
Applicable fees may apply, but the exact amount is not stated; confirm on the official page.
What documents are required for the application?
You need to complete the application form, personal financial statements for all owners, a business plan, and financial projections or statements.
Can I use the loan for any purpose?
The loan can be used for asset purchases, expansion, projects, or construction, but loans over $2 million are restricted to key sectors.
What you can combine it with
Prosper NWT offers related programs like Working Capital Guarantee and Venture Investment; check if you qualify for multiple supports.
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Record last updated June 20, 2026; last verified July 2, 2026 against the official source. Source: official program page.