Our team of professional, dedicated staff is committed to working with our clients on a one-on-one basis. We offer developmental financing to both Aboriginal and non-Aboriginal customers through various loan funds. Financial services include short and long-term loans with flexible payment schedules, operating lines of credit and demand loans.
däna Näye Ventures recognizes the challenges faced by businesses trying to prosper in a relatively slow economy while having limited access to capital. We value non-financial returns such as job creation within the communities as part of the loans application assessment.
We work with our clients to help ensure that their business ventures are successful! In order to qualify for a loan with us, the applicants must provide a plan that will demonstrate how their business will be successful. Among other factors, this will include:
- The financial viability of the proposed business.
- The amount of equity contributed by the owner.
- The management ability and credit history of the applicant.
- Value of property, equipment or other assets for security.
- The value and type of security.
- The environmental impact of the venture.
- Employment generation and competitive advantage.
Once our clients are successful in obtaining a loan, we can support them with business workshops, individualized training sessions, and in some cases additional financial assistance.
däna Näye Ventures is the only financial institution in the Yukon that offers loans to Youth between the ages of 18 and 34 years. We are proud to support Youth who enjoy the idea and challenge of going into business for themselves.
Canada Business Loan Fund
Indian and Northern Affairs Canada (INAC) has provided däna Näye Ventures with contribution funding for both Aboriginal and Non-Aboriginal clients. The fund is to provide developmental lending to all Yukon entrepreneurs and to help support the growth and diversification of the regional economy. The maximum loan amount is $100,000.
Aboriginal Business Development Program
däna Näye Ventures is a delivery office for the federal government's Aboriginal Business Development Program(ABDP). We provide services for aboriginal entrepreneurs, youth and businesses located throughout Yukon and in the northern British Columbia communities of Atlin, Good Hope Lake and Lower Post.
We will assist clients in developing applications for ABDP support. Following are some of the areas ABDP will provide funding in:
- Developing business, marketing or feasibility plans
- Establishing a business or acquiring information technology
- Expanding/acquiring a profitable business or developing new products, services or production processes
- Project-Related Management
- Accounting and professional business advice after you start your business
Please contact the delivery officer at däna Näye Ventures for further information and assistance.
Yukon Micro Loan Program
What is a Micro Loan?
The Yukon Micro Loan program is for individuals who have not accessed credit or have had trouble managing credit in the past. A 'micro' loan can be used to start, maintain or expand a small business. It is not a requirement to have a spotless credit history or an abundance of collateral in order to receive the first loan which makes it easy to start and continue to apply for subsequent loans. The program is set to work in stages with amounts starting at $3000 and building to a maximum of $12,000. The loan terms are short and provide a convenient repayment schedule that can build credit history. Interest rates start at 12% and will decrease as more loans are obtained.
How does it work?
Unlike other loan programs, the Yukon Micro Loan is unique in that an extensive credit history and substantial collateral are not the main focus. Instead, a Micro Loan is based on character, trustworthiness and personal commitment.
Loan terms range from a minimum term of 3 months to a maximum of 3 years. After each loan is successfully repaid and your payment records are in good standing, you may apply for increased amounts of credit. Additionally, you may also qualify for an interest rate reduction of .5% for each subsequent loan you access (to a maximum reduction of 1.5%) if your repayment record was timely and on schedule.
Once approved, a financing agreement will be put into place and liens will be registered at the Personal Property Security Registry.
After you have accessed the program, you will be qualified to access our computer and financial training courses as a borrower through the Yukon Micro Loan Program.
What can I use the loan for?
Loans can be used for any business purpose such as:
- To buy or lease equipment, tools, computers, leasehold improvements, craft materials and supplies, etc.
- Pay for first and last months' business rent, advertising or purchase of inventory.
It is important to note that the funding provided through the Yukon Micro Loan Program cannot be used to refinance existing business or personal debt.
Who can apply?
Any persons 19 years of age or older who possess legal residence status in Canada and who live in, operate or plan to start a business in the Yukon Territory.
For further information or to apply to the Yukon Micro Loan Program, please contact our Financial Services department through the 'Contact DNV' tab.