Nickel Basin Federal Development Corporation is a not-for-profit organization funded through Industry Canada and FedNor. Nickel Basin’s objective is to contribute to the success of local Small & Medium-Sized Enterprises (SMEs) by providing funding and advice, to promote economic growth and diversification that creates and maintains jobs in and around the City of Greater Sudbury.
We provide financial assistance, in the form of repayable loans, loan guarantees, equity investments, or a combination of all three. If your chartered bank, credit union or Caisse Populaire cannot assist financially or not to the extent you need, Nickel Basin can help.
Conversely, businesses that cannot obtain sufficient support from a traditional financial institution but have a viable business plan will be considered. We can assist with Working Capital for inventory and wages as well. Typically, our maximum contribution to any single project is $250,000; The North Eastern Ontario Network allows us to authorize loans of up to $600,000 and can be done on a term loan basis or preferred share issue.
