The BDIC Assists NWT Businesses with Interest Rebates
YELLOWKNIFE – (May 18, 2016) – During the 2016-2017 fiscal year, clients in good standing at the Northwest Territories Business Development and Investment Corporation (BDIC) will receive interest rebates of up to $3000 on their loans.
The one year initiative that began, April 1, 2016 provides clients with refunds on their paid interest. Businesses with new loans approved during this period will also benefit from this rebate. An estimated 100 NWT companies will receive assistance from this initiative.
The BDIC has assisted NWT businesses during challenging economic times in the past. During the economic downturn in 2009, the BDIC implemented an interest rate reduction that provided financial relief to qualified borrowers of nearly one million dollars.
“Once again the BDIC is demonstrating its leadership and flexibility to provide services to NWT businesses by delivering financial assistance when it is most needed,” said Premier Bob McLeod, Minister Responsible for the BDIC. “This support will provide NWT businesses with some extra cash flow to assist in the current economy.”
Established in 2005, the BDIC supports the NWT economy by encouraging the creation and development of businesses in communities. Visit www.bdic.ca to learn more about its programs and services.
For more information, contact:
Manager Communications and Board Support
NWT Business Development and Investment Corporation
867-767-9075, ext. 86002
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