What government loan programs help small businesses in the Northwest Territories?

For a small business in the Northwest Territories, one government lender to know is Prosper NWT. The Prosper NWT Act says the Northwest Territories Business Development and Investment Corporation is continued as Prosper NWT, and that Prosper NWT and its wholly-owned subsidiaries are for all purposes agents of the Government of the Northwest Territories. This page covers the Northwest Territories only. It describes Prosper NWT through its own loan page and the Act, and it says plainly where those sources are silent. Check the current pages before you apply, because programs change.

What Prosper NWT says it offers

Prosper NWT’s business loans page, read on 25 October 2026, says it offers term loans, up to a stated maximum per business enterprise including related entities, to help finance business projects. It adds that loans in the upper part of that range are subject to specific criteria and conditions, such as being in key sectors like housing, infrastructure, critical minerals or emerging technologies. It also says applicable fees may apply and that details are provided during the application process. These are Prosper NWT’s own published terms, so confirm them before relying on them.

What the loan page does not say about buying a business

The page opens by asking, “Are you looking to purchase business assets or expand your business?” That wording covers business assets and expansion. It does not say that Prosper NWT finances buying a whole business, and we did not find a passage that does. If you are buying a business, put the question to Prosper NWT directly: is an acquisition an eligible project, and would a purchase of shares, or of assets, be treated differently? Get the answer in writing before you build a deal around it.

What the Prosper NWT Act adds

The Act defines a business enterprise as an enterprise carrying on business or otherwise conducting operations in the Northwest Territories, with further conditions set out in the definition. It lets Prosper NWT acquire and hold security for loans and other financial instruments, and make guarantees out of the Loans and Investments Fund on behalf of business enterprises. It also has a conflict rule: Prosper NWT shall not provide financial assistance to, or make an investment in, a business enterprise in which its chief executive officer, a director, an officer or an employee has a controlling interest. For an agent of Prosper NWT, or a director, officer or employee of the agent, the Act says Prosper NWT shall not do so unless it has the approval of the Minister. The Act separately says that Prosper NWT’s authority to borrow or make guarantees under the Act is subject to Parts 8 and 9 of the Financial Administration Act, unless otherwise specified. So the Prosper NWT Act is not the only statute that governs its borrowing and guarantees. Ask Prosper NWT which rules apply to your request, and whether anything in your plan, such as a guarantee rather than a loan, changes the approval path.

What this means if you are selling

If you own a Northwest Territories business and a buyer says they plan to use Prosper NWT, treat it as something to confirm, not a given. Ask the buyer what the lender has said in writing, which conditions apply, and whether the lender requires security over the business assets. The Act lets Prosper NWT acquire and hold security for loans, so ask the buyer whether the lender would take security, and over what. Your lawyer or accountant can advise on how to handle it.

Federal context

The federal Canadian Northern Economic Development Agency (CanNor) lists tools supporting the growth and expansion of territorial businesses, including training, advisory services and contribution programs. It is a federal agency, not a Northwest Territories lender. The federal Canada Small Business Financing Program is a national program for small businesses or start-ups operating in Canada under a gross annual revenue limit, delivered by financial institutions. For how loan uses are defined nationally, see what a small business loan can be used for.

Questions to put to Prosper NWT

• Is buying an existing business an eligible project, or only buying assets and expansion?
• Which criteria apply if the request is above the threshold the loan page marks for specific conditions?
• What fees apply, and when are they disclosed?
• What security would you take, and how would a sale or transfer of the business affect it?
• Does the Act’s conflict rule affect my situation if I or the buyer has any connection to Prosper NWT?